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TRENTON – Legislation sponsored by Senators Byron M. Baer and Joseph V. Doria which would allow the New Jersey Commission on Science and Technology to receive a percentage of royalties from any patents, trademarks, or copyrights developed by a biotech or high energy company, was approved in the Assembly Commerce and Economic Development Committee today.

“It’s important to invest in scientific advancements in the state, and a 1985 commission was created to promote and encourage technological innovation,” said Senator Baer, D-Bergen. “The commission has provided financial support to biotechnology, information and environmental protection technology projects because many of the programs would have difficulty attracting private investors.”

TRENTON – Legislation sponsored by Senator Byron M. Baer which would allow the New Jersey Commission on Science and Technology to receive a percentage of royalties from any patents, trademarks, or copyrights developed by a biotech or high energy company, was approved in the Senate Economic Growth Committee today.

“In 1985, the commission was created to help promote and encourage scientific and technological advancement in the state,” said Senator Baer, D-Bergen. “To accomplish its mission, the commission provides financial support to biotechnology, information and environmental protection technology projects. Sponsoring these programs is critical because many of those projects would have difficulty attracting private investors due to the risks associated with leading edge research and development.”