The draft Thai Bayh Dole Act has been approved at the joint sitting of the National Assembly on 17 September 2021. The bill received 494 votes in favor, allowing it to soon take effect.
The Thai Bayh Dole Act has been proposed by NXPO on behalf of Ministry of Higher Education, Science, Research and Innovation (MHESI). The Act grants ownership of inventions made with government funding to inventors – mostly universities and research institutes, thus providing the power to manage their IPs and the freedom to negotiate licensing terms that would best encourage the commercialization of technology. The Act also includes the profit-sharing principle which will gives incentive researchers and guidelines for the government to issue compulsory licenses in case of national emergencies.
By unlocking all the inventions and discoveries made from public research funds, the Thai Bayh–Dole Act is expected to create many more spin-offs and start-ups to drive an innovation-driven economy, encourage inventors to develop novel products or services to meet market demand and invigorate the country’s overall economy.