Gaylord Specialty Healthcare’s current activities in developing intellectual property and partnering with corporate entities may in many ways be traced back to the transformational activities that occurred in the field of IP and licensing, during the 1980s.
The Bayh-Dole Act of 1980 aimed to do nothing less than transform scientific research. For the first time, it allowed American universities to own the patents on all discoveries their faculty members had made using federal research grants. In addition, universities and related discovery engines -- including hospitals and other health care facilities, such as Gaylord Specialty Healthcare -- could develop relationships with corporations to allow those inventions to be commercialized into products in exchange for participation in the financial benefits of discovery, specifically if federal research funds had been utilized in innovative discovery.
It was a short eight years later, in 1988, that Henry Chauncey Jr., armed with much of the current understanding of the Bayh-Dole Act and experience in interactions between universities and corporations, was named President and Chief Executive Officer of Gaylord Specialty Healthcare. He joined Gaylord after serving as president and chief executive officer of Science Park, founded in 1982, in New Haven, CT. Science parks are often built in close proximity to universities and with corporate partners and academic relationships both serving as important bridges — the idea being that businesses and tech companies will benefit from “cross-pollination.” Ideally, this new highway of communication leads to increased innovation. In the best-case scenario, one ends up with the Stanford Industrial Park, also known as Silicon Valley.