RP now has tech transfer law, DOST lauds passage

A proposed bill that seeks to roll out mature and potentially important technologies generated by government-funded researches to the market was finally enacted into law recently after almost three years into legislation.

President Gloria Macapagal-Arroyo signed Republic Act 10055, otherwise known as “An Act Providing the Framework and Support System for the Ownership, Management, Use, and Commercialization of Intellectual Property Generated from Research and Development Funded by Government and for Other Purposes” or the “Philippine Technology Transfer Act of 2009” into a full fledged national statute on March 23 at the Malacañang Palace. The new law is expected to serve as the blueprint for a nationally coordinated technology transfer framework of government-funded researches.

Department of Science and Technology Secretary Estrella Alabastro said that the whole science community is overwhelmed with this development.

Sec. Alabastro said that this new law, a landmark policy on technology transfer will revolutionize the commercialization of technologies generated by researches funded by the taxpayer’s money. (PIA-Bohol)

Source: BoholNewsDaily