In October of last year Puerto Rico's Legislative Assembly approved Act 150 to sponsor and promote the participation of academics, professors and researchers from the University of Puerto Rico in the development of intellectual property and the transfer of technology into industry. The objective of this legislation is to increase research into and the development of technology in Puerto Rico's academic arena, in a broadly similar manner to that in which the Small Business Patent Procedures Act, the Bayh-Dole Act and the Cooperative Research and Technology Enhancement (CREATE) Act of 2004 have functioned in the United States. Previously, University of Puerto Rico professors, researchers and academics were not allowed to license their innovations or work alongside commercial entities.
Source and further details: "Puerto RicoTechnology transfer: the way forward", article by Eugenio J Torres-Oyola, Laura Belendez, Maristella Collazo (Ferraiuoli Torres Marchand & Rovira), posted on International Law Office.
