Research supported by US taxpayers generates large financial payoffs — but for the private companies that exploit the research, not for the taxpayers who funded it. For example, every $100m invested by the National Institute of Biomedical Imaging and Bioengineering produces almost 25 patents that have the potential to generate corporate revenue. One remedy suggested by the Times is to require companies that exploit federally funded discoveries to reinvest a portion of their profits in additional research.
(Source: The New York Times)
Published in Dawn, Economic & Business, July 6th, 2015
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