This opinion piece argues against a proposal by Commerce Secretary Howard Lutnick to tax 50% of patent royalties earned by universities from federally funded research. The author contends that this tax would be counterproductive, undermining the highly successful Bayh-Dole Act of 1980 which allows universities to retain ownership and license their research. This act has spurred innovation, created startups, generated trillions in economic output, and supported millions of jobs – all benefiting taxpayers far more than a royalty tax would. The author emphasizes that the current system already provides a substantial return on investment through economic growth and tax revenue, and that government intervention would stifle innovation and waste valuable research.
An edited and extended version of an article first published in Computing, 11 May 2000, detailing the history and impact of the Palo Alto Research Center (Parc) and its inventions that shaped personal computing.
Discover how to fully automate Arduino development by integrating Claude code access to hardware. Enhance efficiency and innovation with this cutting-edge approach.
This article discusses the unique culture of innovation in the Bay Area, the world's leading center for technological advancement. The article highlights the critical factors contributing to the region's success, including infrastructure, finance, and culture.
