Since the early 1980s, universities in the United States have greatly expanded their patenting and licensing activities. The Congressional Joint Economic Committee, among other authorities, argued that the increase in university patenting and licensing contributed to the economic boom of the 1990s. Many observers have attributed this trend to the Bayh-Dole Act of 1980, which facilitated patenting and licensing by universities. This book examines the conventional wisdom by adopting a more holistic point of view, examining the diverse channels within which commercialization has occurred throughout the 20th century and since the passage of the Act. Using quantitative analysis and detailed case studies to assess the effects of the Act, it concludes that universities must maintain their historic commitment to the free flow of knowledge to serve the global public interest and sustain their remarkable scientific and technological achievements of the past century.