The Bayh-Dole act is less than 100 years old, but it is in my view one of the major causes of the phenomenon you describe.
(It should also be, incidentally, taught as one of the great examples of unintended consequences: by all accounts it was designed to increase the independence of universities by letting them keep the monies they got from commercialization. Then somewhere along the way policy-makers realized Bayh-Dole was a great excuse to encourage universities to do tech transfer. And now essentially every grant that doesn't have some tech transfer proposal is almost automatically in trouble when compared against those that do.)
(It should also be, incidentally, taught as one of the great examples of unintended consequences: by all accounts it was designed to increase the independence of universities by letting them keep the monies they got from commercialization. Then somewhere along the way policy-makers realized Bayh-Dole was a great excuse to encourage universities to do tech transfer. And now essentially every grant that doesn't have some tech transfer proposal is almost automatically in trouble when compared against those that do.)