Technology Transfer Commercialization Act

Citation: Technology Transfer Commercialization Act, Pub. L. No. 106-404.

Overview
The Technology Transfer Commercialization Act, signed into law on November 1, 2000, made alterations in current practices concerning patents held by the government to make it easier for federal agencies to license such inventions. The law amended Pub. L. No. 98-480 and Pub. L. No. 96-517 to decrease the time necessary to obtain an exclusive or partially exclusive license on federally owned patents. Previously, agencies were required to publicize the availability of technologies for three months using the Federal Register and then provide an additional 60-day notice of intent to license by an interested company.

The Act shortened the period to 15 days in recognition of the ability of the Internet to offer widespread notification and the time constraints faced by industry in commercialization activities. Certain rights are retained by the government. The legislation also allows licenses for existing government-owned inventions to be included in CRADAs.