Posted on 01/15/2024 8:47:54 AM PST by Red Badger
If it ain’t broke, break it.
This is Joe Biden’s guiding principle. He took President Donald J. Trump’s much-tighter southern border and ripped it as wide open as a gutted trout’s belly. Biden turned Trump’s energy independence into begging Iran and Venezuela to pump more oil. He also devolved Trump’s peace in the Middle East into a five-front Arab war on Israel and let the Houthi terrorists convert the Red Sea into a shooting gallery.
And for his next trick, Biden wants to impersonate a Latin autocrat.
On December 7, a date that shall live in infamy, Biden’s Commerce Department proposed a mechanism to invoke the so-called “march-in” clause of 1980’s bipartisan Bayh-Dole Act. This would empower Uncle Sam to capture and control patents that fully or partially were funded with federal research grants, if Washington bureaucrats disliked the market prices or rollout speeds of their ensuing technologies.
As usual, Biden hopes to capsize the efficient, productive status quo. Since senators Birch Bayh (D -Indiana) and Bob Dole (R – Kansas) secured this legislation, universities and other institutions have owned the patents that emerged from federally funded research. Many then license these patents to companies and entrepreneurs who nurture them into goods and services. (Officially this law is the University and Small Business Patent Procedures Act of 1980.)
“Since its passage more than 40 years ago, the Act has spurred nearly 300 new drugs and discoveries that have driven the innovation economy — contributing $1.7 trillion to the US gross industrial output and adding more than 5.9 million jobs,” according to Laura Savatski, former chair of AUTM, an intellectual property licensing group.
Before Bayh-Dole, under 5% of federally supported patents were licensed. By 2022, AUTM data show, 9,884 licenses and options arose among that year’s 16,857 US patent applications. By that measure, 58.6% of patents typically are licensed each year, nearly 12 times the pre-Bayh-Dole pace.
The resulting embarrassment of riches has improved lives from Kansas to Kazakhstan:
Google’s pioneering search algorithm
Firefighting drones
HDTVs
Honeycrisp apples
Nicotine patches
Rotavirus vaccines
Taxol cancer therapy
Touch screens
Windows software
Zerit anti-AIDS treatments
Now imagine life with few new amusements, business tools, or medical cures. The ever-meddlesome Biden now wants new powers to reassign or simply nationalize patent licenses if his pests decide that these items are not marketed quickly or cheaply enough.
“Bayh-Dole did not intend that government set prices on resulting products,” its authors explained in The Washington Post. “The law makes no reference to a reasonable price that should be dictated by the government. This omission was intentional.”
Such Big Government caprice would karate chop private investment. Why would venture capitalists license new patents if federal busybodies could march in, expropriate, and award them to politically connected competitors?
Even worse, anti-capitalist bureaucrats could snatch licenses and sit on them while chanting, “Equity!” “Social justice!” or “Climate!”
Biden & Co. argue that when the state goes marching in, cheaper medicines will flow like the mighty Mississippi. This will prove to be yet another Marxist mirage, as drug companies avoid licensing patents for fear of being fleeced by the Everything for All crowd.
Taxpayers also will suffer if these patents cannot be harnessed. They never will taste the fruits of scientific developments that stay theoretical. They also will not collect the corporate taxes that commercialization now yields.
While America faces a $34 trillion national debt, and $875.5 billion in annual debt service, the marginal corporate taxes from these new products represent federal revenues generated by economic growth rather than higher tax rates. Even the late, great Milton Friedman would bless such tax receipts. Assuming today’s 21% corporate tax, Bayh-Dole’s $1.7 trillion in blessings already would have rendered unto Ceasar up to $357 billion.
Bayh-Dole was “possibly the most inspired piece of legislation to be enacted in America over the past half-century,” The Economist swooned in 2002. It “unlocked all the inventions and discoveries that had been made in laboratories throughout the United States with the help of taxpayers’ money. More than anything, this single policy measure helped to reverse America’s precipitous slide into industrial irrelevance.”
Twenty-two years later, Joe Biden is not amused. As he bans gas stoves and incandescent bulbs, mandates electric vehicles, censors his critics, and labors to imprison the leader of the opposition, he increasingly resembles the late, not great Latin dictator Hugo Chavez. Giving Biden and his comrades the power to smash patents and grab them for “better uses” would imperil property rights and endanger innovation. This could cripple the conveyor belt that speeds modern marvels from university labs to Best Buys, Walgreens, and Whole Foods across America.
Joe Biden should peel his sticky fingers off of Bayh-Dole.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Deroy Murdock is a Manhattan-based Fox News contributor.
The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.
Ping!......................
Right out of Atlas Shrugged.............I wish they’d stop using it as a Guide Book!.................
They’re implementing Directive 10-289....
Ayn Rand calls it right again.
Directive 10-289:
Point Three. All patents and copyrights, pertaining to any devices, inventions, formulas, processes and works of any nature whatsoever, shall be turned over to the nation as a patriotic emergency gift by means of Gift Certificates to be signed voluntarily by the owners of all such patents and copyrights. The Unification Board shall then license the use of such patents and copyrights to all applicants, equally and without discrimination, for the purpose of eliminating monopolistic practices, discarding obsolete products and making the best available to the whole nation. No trademarks, brand names or copyrighted titles shall be used. Every formerly patented product shall be known by a new name and sold by all manufacturers under the same name, such name to be selected by the Unification Board. All private trademarks and brand names are hereby abolished.
this is kind of confusing.
if we that taxpayer paid for the research that created a patentable product, why should the taxpayer not get some benifit ?
Baby steps Bob.
It’s that weasel word ‘partially’.........................
Who'd have think that Democrat-Commie-Socialist-AHOLES would use Atlas Shrugged as a manual to destroy the country?
Read it 4x over the last 20'ish years. Maybe it's time for another read-through to see if I've missed anything that the DummyCraps are going to try next.
My 2 cents:
1) The govt shouldn’t have been funding the research to begin with.
2) If the govt does fund it then the citizens own at least a portion of the resulting patents. I would recommend a percentage based on the amount the govt provided vs what was privately funded.
3) The result of the universities owning these patents has resulted in grossly inflated monetary benefit to the universities that should have been used to offset tuition - instead tuitions have continued to grow multiple times above the inflation rate and university administration staffing has become inflated with a bunch of non-value adders. (Hell tuition should be free based on the amount some of these schools have made).
“the so-called “march-in” clause of 1980’s bipartisan Bayh-Dole Act. This would empower Uncle Sam to capture and control patents that fully or partially were funded with federal research grants, if Washington bureaucrats disliked the market prices or rollout speeds of their ensuing technologies.”
The onslaught continues.
Why would they go to all that trouble? They will just do what they have been doing. Stop enforcing the law and enjoy watching whiners complain to the deaf ear of the legacy media.
Harvard has a $65 BILLION EMDOWMENT and still begs for more as the tuition rises even higher.................
It’s about power. It’s about rubbing people’s faces in it.
CALL CONGRESS
(202) 224-3121
U.S. House switchboard operator
Give your zip and your state to be connected to your Rep.
MESSAGE: Does the Biden govt ever focus on initiatives that benefit taxpayers? This astounding Biden patent steal initiative illustrates what is wrong with so much of the Biden administration: It’s rife w/ people who lack the mental capacity to handle their job.
I still have my copy.
Corporate welfare is still welfare.
“Google’s pioneering search algorithm”
Didn’t Google steal that fair and square? I always thought the government would step in sometime.
All government money comes with strings attached.......................
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