Here’s an even shorter version of Bayh-Dole, with some paraphrasing.
Use the patent system to promote the use of inventions.
A nonprofit or small business firm may elect to retain title to any subject invention.
A subject invention is a patentable invention the contractor has acquired and that has been made under a funding agreement.
Federal agencies have a nonexclusive license to practice or have practiced any subject invention.
Federal agencies may require reporting on utilization, but any such information shall be treated as privileged and confidential and will not be disclosed to the public.
Nonprofits cannot assign subject inventions without federal agency approval except to an organization that manages inventions and is subject to the same provisions as the nonprofit contractor.
Nonprofits must use any royalties and income earned with respect to subject inventions for scientific research or education.
Federal agencies may grant exclusive licenses, including for royalties, and including granting the right to enforce patents.
A federal agency cannot grant a license unless it has received a plan for development or marketing of the invention.
Federal agencies may require licensing of a subject invention or grant the license themselves if a subject invention has not achieved timely practical application or is not reasonably satisfying health or safety needs.
Practical application means an invention is being used and its benefits are available to the public on reasonable terms.
Almost now a quick read.