The Biden administration, despite its good intentions, has set a dangerous precedent by supporting a waiver at World Trade Organization that could remove IP protections from COVID-19 vaccine creators.Over the past decades, I have been working with universities and their scientists to commercialize their discoveries. This waiver could signal a larger intrusion by the federal government in intellectual property rights at American universities, research institutes, and companies large and small.The federal government could use the IP waiver to force universities and public research facilities to re-license patents. It would be a shame.The Bayh-Dole Act, which Joe Biden voted in favor of, was intended to encourage innovation by allowing universities the right to own patents on research findings and license them to companies for use in real-world products. The government held the patents for any federal grant-supported discoveries, and 95 percent of the patents remained unutilized in federal repositories.Bayh-Dole laid the foundation for exceptional economic growth in cutting-edge sectors, including software and agriculture. Since 1996, the law has been crucial in facilitating the creation, financing, and launch of over 13,000 startups. Bayh-Dole was instrumental in the development of over 200 drugs, including the mRNA technology used in COVID-19 vaccinations. Other technologies include Honeycrisp apples and Google's search engine, 5G phones, Honeycrisp apple, drought-resistant seeds, and technologies that range from Honeycrisp phones to Googles search engine. Bayh-Dole contributed $1.7 trillion to America's economy and supported 5.9 Million jobs.Bayh-Dole permits the government to claim control of a patent that was granted federal funding, provided the invention is not being used commercially. Sens. Birch Bayh, Robert Dole and others drafted the Act to allow march ins in cases of commercial abuse but not for price control.Continue the storyThe fact that federal control has not been exercised during the entire existence of the Acts is proof that it is difficult to achieve. Over the years, several petitions to march in were filed. However, none of them succeeded. A group of 34 state attorneys general, led by Xavier Becerra from California, attempted to compel Gilead Sciences and reduce its remdesivir price. Although the attempt was unsuccessful, Becerra is now in Washington as secretary of Health and Human Services.It is obvious that drug prices must be lower. However, IP waivers and march ins are not the right solutions. These efforts could lead to a decrease in funding for startups that are able to commercialize research findings from academic institutions.Take the University of Florida or the University of South Florida. My venture capital fund has funded new delivery systems for gene treatment and an experimental cure to blindness. Bayh-Dole was instrumental in the commercialization of UFs dorzolamide (an ophthalmic drop for glaucoma) and FSUs metalalkoxide process to produce Taxol (a chemotherapy drug for lung and ovarian cancers).What is the secret to such innovation in the Sunshine State, and across the country? Scientists love to see their hard work pay off in innovative ways that improve the lives of people. Economic incentives are also important. Scientists cannot work for nothing. They are responsible for their families, mortgages, and bills just like everyone else.Intellectual property is not just about good business. Over my 40-year career in intellectual-property, I have witnessed the immense power of American university scientists. The strength of our innovation ecosystem depends on intellectual-property rights. We should not march into the laboratories of those whose work makes the globe a safer place.Louis Berneman is a Naples resident and the founder partner emeritus at Osage University Partners. He was the past president of Association of University Technology Managers.
