Patent Law And The Patent System

It is intended both to provide thumbnail descriptions of the various intellectual property regimes to economists working in this area and to indicate where additional economic research might be useful. The other papers in this symposium provide important examples of ongoing research on the economics of intellectual property. Suzanne Scotchmer analyzes the complex effects of patent protection when innovation is cumulative. Rather than analyzing situations in which several firms vie to develop the same innovation-the approach of the "patent race" literature-her analysis examines circumstances in which only one firm can develop an initial innovation but others can also build upon it. She focuses on how the incentive to develop both the initial and subsequent inventions may be affected by the scope of patent protection. Janusz Ordover considers ways of adjusting the patent system that may help to both provide returns to the inventor, and encourage the diffusion of the innovation in the economy. His paper is part of a line of work that explores the place of the intellectual property system among the large number of institutions that affect the amount and nature of research and development that takes place. In the final paper, David

From a rule utilitarian point of view, from a macroeconomic perspective, granting software patents by giving the exclusive right to sell, use,

Introduction A patent is a right, a monopoly of limited duration, in most cases it is for 20 years. It is a right that prohibits other persons from making, using, selling or importing an invention. An invention is one thing, a way of doing something, which is new, useful, and which does not already exist in nature in the same form. There are several types of patent, but the one we are interested in is the biological patent, which is a patent on an invention in the field of biology that allows the patent holder to prevent others from making it from using it, selling it or importing it. The regulation of biological patents varies from country to country and may include biological technologies and products. Genetically modified organisms and genetic material. The patents of each country are valid only for that country. Thus, a Canadian patent is only valid in Canada and has no application in Germany and may contain specific rights, different from German patents. Each country grants its own patents, but there are several broad principles that are common to all patent systems. A set of international agreements establishes certain general standards that apply to patents; such as the duration of the monopoly, the

The second form of intellectual property that must be implemented is Patent. We must protect

The World Intellectual Property Organization (n.d.) helps one understand the importance of protecting intellectual property. They have spelled out several reasons of this importance including inventing new works in technology and culture, which allows progress to be made that, can be utilized worldwide. In addition, the legal protection of intellectual property encourages the commitment of additional resources for further modernization. Finally, promoting and protecting intellectual property encourages economic growth. It creates new jobs and industries. Protecting intellectual property also enhances the quality and

Instead of investing money into further research and development, companies and individuals are forced to spend the money on defending lawsuits and buying up patents in order to protect themselves from the Patent Trolls. According to Robin Feldman, Professor of Law at the University of California Hastings, unjust patent litigation has an enormous emotional impact on the defendants which are forced to participate in a broken patent system by the NPEs desire, and unmitigated ability, to sue for profit. It's simply extortion, except instead of offering protection from other goons, NPEs offer protection from the government which was supposed to stop them in the first place. The patent law is being used as a tool for legalized

Hello, Mr. Speaker and class; today, we will be discussing the banning of patents. Patents should be stopped, because of two main and very serious reasons that have come to my attention, and today, I will discuss them with you, and make you see the true threat that patent have to us. My first point will be about the economy, and how patents are just too expensive to maintain. My second point is that there may be too much responsibility to be able to keep the patent alive and going. Having patents may seem good at first, but once someone does it for real, they may have already ruined themselves. In fact, somebody can very well ruin themselves before they even finish signing their patents. How? Well, to sign a patent, someone will have to first pay a filing fee that’s from $250 -

Patents are necessary for technology to flourish. They provide an economic incentive to take the initial costs of researching and developing of new inventions and discoveries, which later on benefit and advance society. Without the protection of patents, as soon as a product enters the market, competitors would be able to copy and manufacture and sell the product directly without having to take the initial costs, that others have, which risks putting a stop to the creation and development of new discoveries that continue to benefit society.

While each type of patent serves a purpose, utility patents are most commonly used by inventors for their technological inventions.

Recently, Congress and the courts in the United States have been active in reining in what many have seen as patent system that has run amuck. In the process, they have placed a number of limits on patent holders’ ability to effectively and successfully enforce patents. But as opportunities to enforce intellectual property through patent suits have been narrowed, another IP door appears to be opening.

Intellectual property is the main elements for economic growth and national competitiveness. President Obama mentioned that the United States of America must support intellectual property rights to be successful in an increasingly competitive international market which help the American people to meet their goals. It clearly shows that supporting of intellectual property by government completely related to economy because it has a direct relationship with innovation which is the main buddy in economy, and its benefits will effect to every single industries. In addition, Intellectual property is not just the final product of workers and companies but also it has positive effects to innovation of products, supplies, and commercial activities (U.S. Patent and Tred mark office 2012).

The protection granted for owners of intellectual property rights under TRIPS promotes the business and economic development and that will result in increasing the level of innovation in several countries. Inventors will also be encouraged to contribute to activities involving research and development; knowing that their work is legally protected. Countries impose rights of protection to IP in order to ensure citizens are innovative in their own country. Developed countries offer very high protection of IP rights and because of that, those countries are considered very innovative.

IP Protection fosters innovation and innovation activities. Protective strategies enhance a firm’s competitive offering. Patent protection strategies described by Mazzoleni and Nelson (1998) align with the neoclassical view of organisation and profit maximisation. Increased protection of IP allows companies to create a strategic advantage. The protection offered in IP systems such as patents fosters innovation and innovative activities. IP systems secure R&D investment, which is

The market reward rationale for the patent system is based on the ability of patents to reduce transaction costs and serve as a transferable asset, thereby allowing for inventor to control the supply of the technology, and for the technology to maintain competitive pricing in the marketplace and recover costs of invention. Specifically, a patent allows for disclosure which prevents inventors from overlapping efforts or from keeping the technology a secret, thereby reducing transaction costs and making it easier to work with interested parties. The transferability of the patented technology further eases collaboration and commercialization efforts, allowing inventors work with appropriate companies who are well able to commercialize the

Today, business often crosses the boundaries and thus inventors are required to protect their inventions in the countries where they wish to operate. Patent systems of different countries are different and this creates much problem. They are often very reluctant to do business in countries where protection is very less or almost nil for their invention. Thus, neither inventor nor the countries enjoy the benefit of patent. If we examine rules of different countries then many differences can be found but at the same time many similarities can also be traced out. However, by effort and cooperation many of these differences can be minimized. Harmonization is considered as a tool for minimizing these differences of patent system of different countries.