Technology Transfer Commercialization Act of 1998

Technology Transfer Commercialization Act of 1998 - Amends the Stevenson-Wydler Technology Innovation Act of 1980 to revise requirements regarding enumerated authority under a cooperative research and development agreement to permit Government laboratories to grant licenses to federally owned inventions made before the licenses were granted and directly related to the scope of the work under such agreements.

Rewrites Federal restrictions on the licensing of federally owned inventions. Requires a license applicant to make a commitment to achieve practical utilization of the invention within a reasonable time. Requires such a license to include provisions: (1) retaining a nontransferrable, irrevocable, paid-up license for the Federal agency to practice the invention or have the invention practiced throughout the world by or on behalf of the U.S. Government; (2) requiring periodic reporting on use of the invention by the licensee only to the extent necessary to enable the Federal agency to determine whether the licensee is complying with license terms; and (3) empowering the Federal agency to terminate the license if the licensee has been found by a competent authority to have violated the Federal antitrust laws in connection with its performance under the license agreement. Prohibits an agency from granting an exclusive or partially exclusive license on a federally-owned invention unless: (1) it has provided 15 days' public notice and considered all comments received (exempts from such notice requirement the licensing of inventions made under a cooperative research and development agreement under the Stevenson-Wydler Technology Innovation Act); and (2) the person requesting the license has supplied to the agency a basic business plan with development or commercialization milestones, or both. Requires any such basic business plan and any licensed invention utilization report submitted by a licensee to be treated by a Federal agency as commercial and financial information that is not subject to disclosure under the Freedom of Information Act.

Makes certain technical amendments to: (1) the Bayh-Dole Act with regard to the Government's acquisition of the rights of a private party to a federally owned invention; and (2) the Stevenson-Wydler Technology Innovation Act of 1980 relating to the distribution of royalties received by Federal agencies.

Requires the Director of the Office of Science and Technology Policy to review the general policies and procedures used by Federal agencies to gather and consider the views of other agencies on joint work statements with non-Federal entities operating Federal laboratories, or cooperative research and development agreements, with respect to major proposed cooperative research and development agreements that involve critical national security technology or that may have a significant impact on domestic or international competitiveness. Requires the Director to determine the adequacy of existing procedures for interagency coordination and awareness and to distribute to appropriate Federal agencies: (1) specific criteria to indicate the necessity for considering the views of other agencies on joint work statements or cooperative research and development agreements; and (2) additional procedures for carrying out such consideration.