By Heather Walker*

To encourage innovation, the government may provide a private company with an equipment authorization to develop new technology or create rules and regulations encouraging such development. However, private companies risk losing money on their innovations if the government later revokes an equipment authorization or changes a project unless the government compensates them. Although the Constitution prevents the government from taking property without providing just compensation, in order for the Takings Clause to apply, what was taken has to be deemed property in the first place. Where the government has passed rules and regulations to incentivize a specific private company to invest and develop innovative technology, the authorizations and created property should be found to be a property interest that can support a takings claim. By recognizing these interests as property interests, companies will be more inclined to partner with and support innovation that deals with pressing problems as they know they are guaranteed a certain level of protection.