Contract Law Term Paper

Between 1790 and 1860, the Patent and Trademark Office of the federal government issued just 36,000 patents- licenses that give an inventor the exclusive rights to make, use or sell an invention for a set period of time

I can protect it through employment secrecy agreement between myself and my assistant Igor. A trade secret is a plan, process, formula, or any other valuable information not patented but which gives its possessor a competitive trade advantage as long as it is kept secret .While the benefits of strong patent protection for 17 years seemed appealing, the down-side is that the secret recipe would be publicly disclosed and would be free for anyone to duplicate once the patent expires. While a patent protection might have been sufficient for a typical product of average market life span, I think Frankenstein is no ordinary/ average product. Therefore I want to give it the longest lasting protection available - protection that simply is not affordable by a patent. Moreover, there’s no substantive difference between patents and trade secrets.

this case could be an tricky in the court, because in the contract they only

The holder of the patent has sole rights over the invention for a specified period of time” (e.g., 20 years for applications filed in the United States and in the United Kingdom).

Patent infringement occurs when there is a violation of the patentee’s exclusive right. In their work, W. Kintner & L. Lahr, (1975) argue about the three types of infringement encompassed in the US Patent Act, which are: direct, active inducement and contributory.

A contract can only exist when there is a mutual agreement the parties involved in the contract and the agreement should be based on parties’ free will with no undue influence from the parties involved (Hillman, 2012). It is apparent that Jim and Laura made the decision to buy the car and they went to see the car dealer and initiated the agreement at the same time made an offer for Sedan cars after testing several cars. They agreed to the terms of the contract of sale and promised to come the following day to pick the car. These provided reasons beyond doubt that Jim and Laura were committed to the agreement and both of them were of age and of sound mind which made the agreement a legal contract beyond doubt.

Denton, G. &. (2012). Thwe difference between a contract that falls undert the UCC and one that does not and why it is important to you. Retrieved from Gunderson & Denton at Law: http://www.gundersondenton.com/business/diffe

The U.S. constitution gave Congress the power to “ promote the devellopment of the useful arts” by granting exclusive rights to inventers for a limited period of time. The purpose of a patent was to assurre the rights of the creators in exchange for not keeping these inventions secret, thus overall knowledge base grows.

At the end of the day, a trademark alludes to the brand name of an item, while a patent alludes to an invented

As mentioned, the UCC rules are applicable to many types of commercial contracts, like contracts to sale of goods, lease contracts, negotiable instruments, bulk sales, letter of credits and secured transactions.

Legal action can be taken against the person making use of patented invention without permission.

A patent is a grant generally given by the government of a country certifying that a particular individual or group was the creator of an invention or innovative process. The patent holder is given exclusive rights to their invention

Although there is a continuous debate pertaining to this matter, International laws has made the patent mandatory. This law governs only for those countries who are the members of the World Trade Organization and falls under the WTO side agreement known as

Forfeiture of the patent will not be provided for except where the grant of compulsory licenses is not sufficient to prevent abuses. Forfeiture or revocation of a patent will not be instituted before the expiration of three years from the grant of the first compulsory license.

When issuing a compulsory license, the effect is to exempt the user who produces the patented substance or uses technology from liability of infringement. If a patentee applies for a patent for a newly discovered or an alienated substance, or a synergy of entities, she is not required to disclose the “know-how” to the public. Therefore, she can retain the information undisclosed as trade secrets. Ordinarily, companies use patent and trade secret protection together in a synergistic manner to enhance exclusivity as a common strategy. As a result, if the user of a compulsory license does not comprehend the know-how, then the production of the final product would eventually come to naught.