Summary
The U.S. government, led by Commerce Secretary Howard Lutnick, is considering taking a share of the money from patents developed by major universities with federal funding. Lutnick argues that because the U.S. taxpayer funds the research, the government should benefit from the profits generated by these patents. This approach follows other government moves to gain financial stakes in private companies.
Key Facts
- The U.S. government is looking to share in patent profits from federally funded university research.
- Commerce Secretary Howard Lutnick expressed the government's interest in gaining financial benefits from university patents.
- The Trump administration already takes a cut from private companies like Intel and Nvidia.
- Lutnick suggests the government should get half of the benefits from patents funded by taxpayer money.
- Lutnick has contacted universities like Harvard and plans to contact the University of California system about this proposal.
- The Bayh-Dole Act of 1980 currently allows universities to keep ownership of patents from federal funding.
- The proposal suggests that sharing patent revenue could help fund U.S. Social Security and reduce deficits.
- Not all universities profit significantly from commercializing patents, as many face financial and logistical challenges.
