Intellectual Property: An Experimental Analysis Of A Therapeutic

A patent is a legal document giving inventors the property right to their own invention. A patent didn’t always mean the rights to an invention though. A patent used to mean a special privilege or favor. It also could be used to acquire more land or obtain rights to explore a new land. Presently the patent is used only for the rights to your invention. Virginia Alexandrea from The United States Patent and Trademark Office wrote the article “General Information Concerning Patents” where she described what Patent rights include.

The “Patent” article from The New Book of Knowledge by Donald W. Banner describes how a patent was created, what it is used for, and how to obtain it. To begin, a patent didn’t always mean the rights to an invention. A patent used to mean a special privilege or favor. It could be to acquire more land or get the rights to explore a new land. Now a days we know patent as the rights to your own invention. The writers of the constitution want to protect inventors, so they decided to write rights in the constitution. “Article I, Section 8, says: "The Congress shall have Power…to promote the progress of Science and useful Arts, by securing for limited Times to…inventors the exclusive Right to their…Discoveries."”(Banner, 1). In 1790 congress passed

Generally, patents support invention and innovation by granting companies with patents the rights to gene sequencing. Normally, the lure of potential patents drives researchers to think creatively to obtain a patent for their work. Patents provide varied opportunities in research and development. The researchers will invest in patented genes and this is the backbone of innovations. Lastly, patenting will help in traceability in case a problem arises from the use of the GMOs from agricultural biotechnology.

Patent law provides the strongest monopoly rights of the intellectual property (formally known as IP) system (Kratz, 2010). Patents may be thought of as a statutory monopoly right granted to an individual for their specific invention (Kratz, 2010). Two observations about the patent system may be made clear; it is often times thought of as a race, and inventions are built on the work of others (Kratz, 2010). The idea of patenting is a largely controversial debate within the realm of research; as any dispute, there are both pros and cons to each side. This paper will first look at both sides of the argument regarding the patent system; however, by the end it will be made clear that the negatives outweigh the positives of the patent system.

Every engineer strives to achieve a certain goal throughout their career. Some focus on becoming successful both in their job and in their lives, while others work to build a better world. Some engineers might have different goals, yet each engineer reaches certain milestones throughout their career that have a worthy value. Creating a patent, is by far one of the most prestigious achievements an engineer, inventor, or anyone acquire in their lifetime. Being able to brainstorm and formulate a specific item or article no other has thought of is truly something that most can only dream of. Yet what does making a patent really consist of, apart from bragging rights and maybe self-satisfaction? Patents serve as potential money-making ideas that can increase in value over time. Some patents can be worth millions while others have less worth than your pocket change. Regardless of the exact amount a patent can be worth, they still hold value which could potentially increase over time, making it a worthy investment. Next, having a patent hung up in one’s office or stated in a resume or CV is truly an eye-catching achievement that is highly regarded. It represents one’s creative and innovative abilities which can be very much needed when applying for a job or a certain position within a company. Finally, patents allow one to sell, use or make an invention with under legal protection from the country they live in. The key word there is invention, which is an idea or creation that can

Patent: A patent is a government issued license that gives the holder of the patent certain exclusive claims to a process, invention, or design for a given period. A patent protects the holder of the patent from copyright infringement, and also gives the

used in the making and use of the product. A majority of patent applications are in

A patent is simply a license issued by a government that acknowledges an invention and protects the inventor from having others steal his/her original design/idea and produce it in order to make a profit from it. This is the financial benefit that accrues from an invention but there is another value that may be assigned to an inventor. That of course is the professional satisfaction that the inventor will feel when his work is acclaimed by his peers or in the case of popular inventions, fame of the public. The latter may be achieved by publishing the idea (or a description of

Any inventor has the right to patent his or her idea or product in order to gain from its profits, but today, thanks to all the communication gained by globalization there are real patent wars that sometimes are not about a real breakthrough but about who gets to make money, reaching to ridiculous patents like the one filed by google title "Hand Gestures to signify What is important" (Kieger, n.d.)

Patents are the essential means by which a firm protects its proprietary knowledge. A patent is defined as a grant made by a government that confers upon the creator of an invention, the sole right to make, use, and sell that invention for a set period of time. There are two types of patents in reference to the pharmaceutical industry:

This essay would discuss the purpose of patent laws. It would present the two main perspectives on the implications of this law. Since it is necessary to understand the role of such laws, this essay will shed light on the impacts and advantages of patent laws. The viewpoints of renowned scholars would be mentioned to present distinct criticism on implementing such law. Gradually, the linkage between intellectual property and patent laws would reveal its role in a modern society, in which some suffer and some gain. The conclusion of this essay would tie the main discussions and arguments that were presented and establish my viewpoint on this

Then a patent search will be performed through patent database. After passing the evaluation of the commercial potential of this invention, it will be patented. This patent will then be legally protected by US law. If the patent process is filed in other countries, for example, China, the ownership should also be protected by the local Chinese government.

Few know the impact that patents have on the pharmaceutical industry development. The evolution of this industry is closely linked with the evolution of patent system (Salazar, nd.). Lehman (2003) explains in a simple way the definition of patents. According to him, patent is the property right that the creator has over his creation, if it is new, useful and not obvious. The reason for the existence of this protection is to safeguard products from being copied without compensation for the author or inventor. Since the adoption of intellectual property law in the realm of the chemical and pharmaceutical industry, the process of innovation of treatments and creation of drugs have been galvanised (ibid.). However, if on the one hand it brings

A patent is a form of Intellectual Property defined by WIPO as “an exclusive right granted for an invention, which is a product or process that provides… a new way of doing something or offers a new technical solution to a problem” (WIPO,2017). In practice a patent is a document issued, upon application, by a government or regional office which describes an invention. Creating a legal situation in which the patented invention can only usually be exploited with the authorisation of the owner of the patent, and therefore the right granted is exclusionary. Thus enabling the patentee to prevent others from producing, using, selling or importing the invention without the patent owner’s permission. The purpose of a patent is to ultimately

The United States Patent Office is where companies or individuals can file documents to obtain a legal monopoly for a product or process that they have created (Jennings, 2015). Three types of patents include utility or machines lasting 20 years, the design, or production that lasts 14 years, and plant that lasts 20 years. Because of the race to be the first person to invent or create a product the America Invents Act (AIA) came about in 2011. This allowed Americans to compete with other countries that had filed before them as well as increase the patent process from 3 to 4 years to 12 months. A patent holder has the right to solely profit from the patent. If someone steals the idea the individual has created then they have done a patent infringement. This entitles the patent holder to damages and legal action against the party that stole the idea. In order for a