American Discoveries and American Jobs Commission Act of 2011 or Herb Vederman Commission on American Discoveries and American Jobs Act of 2011 - Establishes the Commission on American Discoveries and American Jobs to study: (1) the state of technology transfer from federally funded research to the private sector; (2) the possibilities for the federal government to collect royalties from early research that leads to the commercialization of a profitable product or technology; (3) the potential adverse consequences of such royalties on technology transfer, commercialization, and economic growth; and (4) the potential benefits of reinvesting revenues from federal royalties into science, technology, engineering, and math (STEM) education and seeding future federally funded research.
Requires submission to Congress of recommendations of specified regulatory and statutory changes.