The Thailand Research and Innovation Utilization Promotion Act B.E. 2564 (2021) (TRIUP Act), which is also referred to as the Thai Bayh-Dole Act, came into force on May 7, 2022. The enactment of the TRIUP Act is a culmination of years of deliberation by the Thai government and various stakeholders, and is modeled after the success of the adoption of the Bayh-Dole Act in other jurisdictions, such as the United States, Japan, and Korea. Under existing intellectual property laws in Thailand, patentable inventions are owned by the employer, hirer, or commissioning party by default, unless they explicitly agree to a different arrangement with the inventor. Public research organizations and government agencies in Thailand have always had their own institutional policies addressing the ownership, management, and exploitation of intellectual property rights. While certain government funding agencies may co-own such intellectual property rights with the relevant research institutes, some have adopted a more restrictive approach by retaining full ownership of any intellectual property rights arising from research and development efforts carried out using their funds. Instead of allowing the inventors to have full ownership rights over their inventions, these funding agencies would grant them a license instead. The promulgation of the TRIUP Act changes this. Under this new law, inventions made with the government’s funding belong to their inventors (e.g., universities and research institutes). Overview The TRIUP Act requires fund recipients and researchers (usually represented by their employing institution) who wish to own their research or innovation results to disclose them to the funding government agency or organization within a specified period, and to notify the funding party of their intention of ownership together with a commercialization plan. If a fund recipient or researcher fails to do so, the research or innovation results will belong to the funding party instead. The