Title I: Policy - Expresses the need to establish and maintain a uniform Federal policy for the management and use of the results of federally sponsored science and technology research and development.
Title II: Implementation - Requires the Director of the Office of Management and Budget to issue guidelines to assure uniform implementation of title III of this Act. Directs the Secretary of Commerce to insure the consistent application of this Act by: (1) consulting with and advising agencies regarding implementation; and (2) accumulating, analyzing, and disseminating data obtained from agencies. Authorizes the Secretary to assist agencies in promoting licensing, utilization, and protection of Federal inventions both here and abroad and to receive fees and royalties.
Requires the Secretary to report annually to Congress on these activities, including relevant statistical data and recommendations. Terminates the authority of the Secretary under this Act seven years after enactment.
Title III: Allocations of Rights-Government Contractors - Permits each agency to acquire title to any invention made under contract with that agency if necessary to protect intelligence activities or to further the policy of this Act.
Requires Federal agency research contracts to: (1) require periodic written reports on the commercial utilization of the invention; (2) reserve to the United States at least an irrevocable, nonexclusive, nontransferable, paid-up license to make, use, and sell the invention; and (3) employ a single patent rights clause, detailing the time limits and obligations of each party for moving on the invention. Grants the contractor the right to retain title to the invention, subject to the right of the Federal agency to require its commercial utilization through licensing specified terms. Permits an agency to waive its rights if to do so would be in the public interest.
Title IV: Miscellaneous - Makes technical and conforming amendments to specified Acts.