Technology transfer is the process of conveying an interest in a technology from, for instance, an academic or government research institution to a private sector entity that commercializes the technology. Over the past several decades technology transfer has proven to be an excellent way for universities to generate income from the vast amounts of research that they conduct. The law governing technology transfer includes both state and federal statutory law. The relevant federal statute is the Bayh-Dole Act (
see 35 U.S.C. § 200-212), and relevant federal regulations can be found at 37 C.F.R. 401.1-401.17.