Technology Transfer Commercialization Act of 1998

[AI summary unavailable — showing source text] Technology Transfer Commercialization Act of 1998 - Amends the Stevenson-Wydler Technology Innovation Act of 1980 (Stevenson-Wydler Act) to revise requirements regarding enumerated authority under a cooperative research and development (R&D) agreement to permit Government laboratories to grant licenses to federally owned inventions for which a patent application was filed before the granting of the license, and directly within the scope of work under such agreement. (Sec. 3) Rewrites Federal restrictions on the licensing of federally owned inventions. Requires a license applicant to make a commitment to achieve practical utilization of the invention within a reasonable time. Requires such a license to include provisions: (1) retaining a nontransferable, irrevocable, paid-up license for the Federal agency to practice the invention or have the invention practiced throughout the world by or on behalf of the U.S. Government; (2) requiring periodic reporting on use of the invention by the licensee only to the extent necessary to enable the Federal agency to determine whether the licensee is complying with license terms; and (3) empowering the Federal agency to terminate the license if t…