U.S. patent laws have undergone many changes in recent years, both through Congress and the courts. This article summarizes recent developments relating to judicial decisions, legislative initiatives, and patent office policy, and provides some practical advice relating to administration of intellectual property. As illustrated by the latest judicial decisions, the law makes no distinctions between academic research and research done for commercialization and profit. Therefore, those involved in research administration at not-for-profit organizations, colleges, or universities must not assume that they will be treated differently or that certain provisions of the patent laws do or do not apply to them. Such assumptions can have a severe impact on the ability to license the technologies developed at these institutions. Instead, those involved in research administration should adopt a "commercialization" mindset in order to successfully identify, protect, and capitalize on intellectual property generated at the institution.