For years, China has stolen hundreds of billions of dollars’ worth of American companies’ intellectual property — everything from patented software code and computer chips to prescription drug formulas and weapons systems.
Thankfully, the Biden administration is making a concerted effort to curtail this theft. Federal investigators now open a new counterintelligence case against Chinese actors every twelve hours on average.
But while administration officials fight China’s high-tech piracy with one hand, they’re threatening Americans’ intellectual property with the other hand. They are threatening to undermine a 42-year-old law that has enabled universities to effectively move research discoveries from the laboratory to the marketplace. This academic-to-industry “tech transfer” process is a foundation of pharmaceutical and high-tech innovation — and upending it would kill the goose that has been laying golden eggs for four decades.