ABSTRACT Federal legislation in the United States mandates that technology developed by federal government agencies must demonstrate socioeconomic benefits to justify the expenditure of funds as part of their fiduciary capacity. The mandate is operationalized by requiring federally funded agencies to seek socioeconomic benefits for the nation by developing programs designed to transfer government sponsored or developed technologies to the private sector. This mandate has led to substantial increase in the amount of technology transfer efforts by agencies, with limited results. Challenges include both the recruitment of firms to participation in technology transfer programs and weak efforts by recruited firms to fully commercialize products. This article posits that a marketing exchange approach to technology transfer will facilitate successful technology transfer and commercialization. A conceptual framework is presented from which to view government technology transfer efforts.