Intellectual Property And Technology : The Real World : Legal Matters Sweet As Candy

There is just a one person who sells products or services and there are no incentives which help to break this monopoly. There are many monopoly industries in the market. In monopoly, they use patents because they don’t like if someone’s copy their inventions.

Patent: A government authority or license conferring a right or title for a set period, especially the sole right to exclude others from making, using, or selling an invention.

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.

While a trademark cannot be infringed upon at any time, if a trade secret is obtained through legal means it is no longer protected from use. With a patent, third parties are prevented from making, using or selling the invention thus protecting the funds used in the research and development (R & D)effort. This initial investment can be recovered and if the product is desirable, business success is realized for the property owner.

Most nations grant patent priority to the individual who can prove (s)he was the first to invent.

Article I, Section 8 of the U.S. Constitution provides the federal government with the power to issue patents and copyrights in order “to promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries” (U.S. Const. art. I, § 8). A patent provides the inventor with an exclusive right to “use, license or sell and invention,” (U.S. Const. art. I, § 8), as such the product, service, process or design becomes the personal property of the inventor(s).

Technological development allows areas in advancement to be replicated, that’s why three types of patents exist to protect inventions and discoveries to be replicated or stolen. The first type is Utility Patents. This patent pertains to new processes, products or machines. The second patent is a Design Patent.

My goal is to make sure that clients who have an acceptable idea or invention that deserves to be protected should have that idea patented by the federal government. I have the expertise and knowledge to take you through the entire process step by step and achieve the best result for you.

An effective system of intellectual property is important in facilitating innovation as well as economic growth within a country and across all its borders (Davidson, Monoti, Wiseman, 2012). The current global economy is concentrating more in the invention of ideas that are original, other than in manufacturing of machines. To enhance and protect these ideas, there ought to be effective intellectual property laws. The government of Australia has prioritized the protection of original ideas from individuals through copyright, patent, and trademarks among other intelligent property laws, which give the inventor a temporary period to enjoy the financial benefits of his or her original idea. The major purposes of intellectual property laws can be contested; therefore, they create areas of interest for

Intellectual property represents ideas created by minds of humans that require certain rights for their use. Intellectual property gives companies a competitive advantage and attracts the attention of other business partners and investors (Lee, 2016). With such importance, it is necessary for the law to protect these ideas from being used by unauthorized individuals. To shield from this, trade secrets, patents, and copyrights are used to protect the ownership of intellectual property (Legal Information Institute).

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.

A patent is an exclusive right granted for an invention, product or process that provides a new way of doing something, or that offers a new technical solution to a problem. An invention in general must fulfill certain criteria in order to be protected by a patent. For example, the Patents Act, 1970 in S. 2(1) (j) defines invention as a new product or process involving an inventive step and capable of industrial application. In other words, an invention in order to be patentable must show an element of novelty, must show “an inventive step”, and must be of practical use. Particularly, the Patents Act, 1970 defines “inventive step” as a feature of an invention that involves technical advance as compared to the existing knowledge or having economic significance or both and that makes the invention not obvious to a person skilled in the art. In other words, patent rights are not available for new advances that are merely obvious extensions or modifications of prior designs. Besides, the requirement of difference over prior art, there is a requirement to establish the extent of common general knowledge that exists while

This idea of patenting technology has been long debated. In some ways, patents help push the boundaries and expand the horizons of technology. Patent laws help protect innovators who create never-before seen technology from having their idea stolen and mass produced by a competing brand name. Furthermore, these laws encourage these visionaries to be the first to brainstorm and develop a game-changing idea or to take a good idea and expound upon it. The Coalition for Patent Fairness is a group of companies dedicated to “enhancing U.S. innovation, job creation, and

The patent rights can be granted to these types of intellectual property as stated above. The patent right for an invention will last for a period of 15 years. Utility models or industrial design patents last for five years.

Intellectual property is critical to many companies in order to foster innovation and boosting their revenues. Many industries rely on the protection of patents, trademarks and copyrights as they are valuable assets for companies’ success. By protecting intellectual properties, it ensures that the original owner reaps full benefits from his/her ideas, features, products and creations.