In reality, taxpayers could only reap benefit of the invention if they had large financial resources, sophisticated technical skills and the personal interest in practicing the invention. Further, this scenario would require inventions that are ready to go to production stage. In today's complex technological environment, federally funded research is rarely ready to go to production when universities are ready to license it. Such development is often time consuming and costly. Taxpayers do benefit from inventions by having access to a broad range of products developed by a predominantly competitive marketplace.
New drugs are a prime example.
If the invention has been dedicated to the public through publication, no commercial firm would devote extensive resources to developing the first commercial application, knowing that any of their competitors can step in and reap the profits of commercial exploitation once the invention has been proven. Patents, and the seventeenth year exclusive position they provide to the inventor, or to the inventors designee, are necessary for successful commercial development of inventions. Return to Index 12. Most universities have regulations regarding the faculty member's time obligations to the university. The issue is further controlled by regular reporting of the investigator's consulting and other outside commitments.