On Dec. 12, 1980, A bill to amend title 35 of the United States Code (H.R.6933, Public Law: 96-517), known as the Bayh-Dole Act provided for the legal transfer of research and technology originating from U.S. universities and federal laboratories to private companies for commercialization.

Technology transfer offices are now common at universities, non-profit research organizations and federal laboratories, and are the technology foundation for a significant number of life science companies in the U.S.