Essay on Patent Reform Gives Protection for Financial Investements

Let me make it clear, there is no doubt that property rights are a necessary feature of a successful economy. This certainly includes intellectual property rights, which ensure quality and consistency for buyers, and secure incentives for continued production by the sellers. However, intellectual property rights are inherently more abstract than rights concerning physical property, and there has always been a legally interpreted grey area concerning intellectual property.

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.

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).

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.

Innovation of research for diseases is a key part to their treatment, and Crichton and Calfee disagree whether patents barrier this research. When an item or idea is patented it means it's owned; therefore no one else can use it without the owner's permission. Michael Crichton discusses how patents are

Under 15 U.S. Code § 1127, a trademark protection is granted on words, symbols, or

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

Intellectual property rights were first born as far back as medieval Europe. During these times, groups of artisans in a particular industry were given permission from the government to control conduct in other industries. These group’s job were to oversee what items were being imported, marketed, produced as well as how new inventions were introduced to the market. [1] Intellectual law during this time period was driven mainly by political and religious reasons since they were a huge part of everyday life. In 1710, intellectual law was made more specific with the passing of the Statute of Anne. This gave inventors an initial 14-year protection period and a possible 14-year renewal. However, it did not protect the inventor from foreign-language translations and the people were able to complain if prices were too high. [2]

In essence patents create a monopoly on a product or invention for a limited period of time (Lau & Johnson, 2013)

A copyright gives the originator of literary, artistic, or music works the right to perform, publish, record, or print them. This can include sound recordings, paintings, photographs, films, melodies, television, radio broadcasts, cable programs, performances, and even codes to computer programs (Legal Information Institute). Since copyrights cover several different types of materials, the duration varies depending on what work is being protected. According to the Copyright Act of 1976, musical, artistic, and literary works created after January 1, 1978 have copyrights that last 70 years after the author has passed away, 95 years after publication, or 120 years from creation, whichever expires first (United States Copyright Office, 2011). However, the published editions of these works have copyrights that last 25 years after being first published. Broadcast and cable programs, on the other hand, have a copyright duration of 50 years after being created

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.

In the business world, being able to compete in the marketplace is critical to a company 's success. One of the ways organizations are able to improve the likelihood for success is by patenting their intellectual property (IP). Intellectual property is defined by Google (n.d.) as, "a work or invention that is the result of creativity, such as a manuscript or a design, to which one has rights and for which one may apply for a patent, copyright, trademark" (para. 1). When a company or individual is granted a patent, it is given exclusive rights to the invention 's use for a specific period. Lau and Johnson note that permission must be granted by the patent-holding company, also known as the patentee, to be able to make, use, or sell the patented product and failure to obtain permission is an infringement on the patent owner 's rights (2014). Infringement is an actionable offense, and it is up to the patentee to defend it. One example of patent infringement is the case involving Retractable Technologies, Inc. v. Becton, Dickinson and Co., (2013). This case demonstrates the importance of intellectual property, how it can be protected, if protections go too far, and consider the balance between the content producers and that of the public good.

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

Imagine what the future may be like in fifty years with continual technological advances and the possibility of creating intelligent machines that can construct roads, plant and produce foods, and even build homes. Eventually, individuals will have little to no contribution in these processes. These technologies will eventually appear as perpetual motion because individuals will receive something for spending little to no time or energy. If all of our wants and needs were readily available, we would then start to question the use of a monetary exchange system. Now, what would the incentive be for protecting intellectual property rights? There most likely wouldn’t be one and every inventor will create for the sole purpose of creating. This possible, future, scenario is exactly where we are headed regarding intellectual property rights. Everybody wants to make the

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