University Technology Transfer and Economic Development Proposed Cooperative Economic Development Agreements Under the Bayh Dole Act

Abstract

"'[I]n difficult economic times, political stakeholders in the technology transfer process usually view success in economic impact terms, and often from short-term and parochial perspectives - how many jobs in my state next year?' Although universities increasingly pressure their technology transfer specialists to become stewards of their regions' economic development, most specialists have no experience in strategic economic development planning, or in forming collaborations that foster local government economic development. Furthermore, current regulations do not provide specialists with much guidance on how to facilitate economic development collaborations between their offices and other nonprofit organizations. This Article proposes that Congress amend the Bayh-Dole Act to provide guidance on how universities can enter into newly proposed Cooperative Economic Development Agreements (CEDAs) patterned after the Stevenson-Wydler Act's Cooperative Research and Development Agreements (CRADAs)."