Technology transfer at the US National Institute of Standards and Technology

Abstract

Abstract This article analyzes the interrelationship among technology transfer mechanisms using data specific to the US National Institute of Standards and Technology (NIST). An overview of the history of NIST and US policies that emphasize the economic importance of technology transfer are discussed. The empirical analysis focuses on NIST investments in research and development (R&D) and the cascading impact of those investments on new inventions disclosed, new patent applications, new patents issued and new patent licenses; and accounting for the effects of R&D on these three investments, an overall estimate of the R&D elasticity of new patent licenses is calculated to be 0.7976. The article concludes with a policy-focused summary of the implications of the empirical findings, and a suggested road map for future research related to technology transfer from US federal laboratories.