Why is there a patent on an algorithm that was developed using tax-payer money? Or maybe more importantly, why is it "available for licensing". Technically, I already own a small portion of the technique!
Public institutions generate revenue from patents as well. All in all not a bad system as long as the revenue flows to more research. A cut is taken along the way usually so that private business expertise can help the sales & marketing process.
The Bayh-Dole Act is the reason that this can happen when the research is federally funded (in the US).
For sure - this horrible act is poison to progress in the sciences, and I believe has shown to be part of why medicine & med devices are so expensive.