monopoly problem associated with the patent system. It introduces the notion of an optimal patent-one where the patent life and the licensing royalty rate are both determined optimally. Under certain simplifying assumptions it is shown that the optimal patent will have an indefinite life, for both process and product innovations. Some preliminary calculations suggest that the use of compulsory licensing may lead to substantial welfare improvements, even if the patent life is left unchanged at 17 years
significant reform to the patent system in the United States since the Patent Act of 1952, which redefined the patentability of patent to include being nonobvious in addition to new and useful (1). The demanding need for patent reform had been discussed and debated frequently both within the literature focusing on patent trolls and consistently in Congress with the introduction of many patent reform acts that were never enacted: the Patent Reform Act of 2006 at the 109th Congress, the Patent Reform Act of 2007
In the United States, both U.S. Patent Law and U.S. “ Food and Drug Administration” (FDA) law govern the exclusivity rights for new pharmaceutical products. As Chinese companies invest research time and money in developing new drugs, it is important to keep in mind both the relevant U.S. patent law and the applicable FDA law that could affect the exclusivity period for that drug in the United States. Mistakes in not obtaining proper patent coverage or satisfying the FDA laws could cost the drug company
A patent is the right to individually protect intellectual property from others making, using, selling or importing the invention granted by the United States government. The patent was first seen in 1474 in Venice, when the statute allowed grants and restrictions of European monopolies. Similar to the modern patent, an explanation, description, and proof of the inventions usefulness was required in order to receive the patent. Over time, the British system adopted this system and after U.S. and
Intellectual and Patent Infringement between Apple and Samsung Introduction Intellectual Property Concepts: Patents, Trade Mark, Trade Secret and Copyright The modern economy is principally technology-driven. Technology products are normally creations of the mind. They entail unique techniques, products, or brands. In order to protect their own investment, entrepreneurs need to safeguard these creations because they are intellectual property. Intellectual property is the mind’s product, but can be
Introduction. The Professional Standards Board for Patent and Trademark Attorneys (PSB) has received a complaint against Michael Masri (Masri) and Julie Chun (Chun). The PSB is to decide if disciplinary proceedings are warranted against Masri & Chun before the Patents and Trade Marks Disciplinary Tribunal (PTMDT). The professional conduct of Masri and Chen is discussed in relation to the Patents Regulations 1991 (Cth) and Code of Conduct for Patent and Trade Marks Attorneys . Breaches are discussed
Summary This Supreme Court decision decides a software patent complaint between Alice Corporation Pty. Ltd. (Alice) and CLS Bank International et al (CLS Bank). The question in this case asks whether a patent claiming the use of a fundamental economic principle is eligible for patent because it applies the use of a computer. Procedural History The petitioner of the case, CLS Bank, has several patents (Nos. 5,970,479, 6,912,510, 7,149,720, 7,725,375) pertaining to the “exchange of financial
The United States Patent Office (“USPTO”) faces criticism from its users and legislators that the timeliness of the patent process and ultimate quality of issued patents are inadequate. In order to address this criticism Congress made several changes to the authorities of the USPTO in the last decade and considered more changes in 2009. Nevertheless, problems persist and some stakeholders argue that reorganizing the USPTO as a government corporation would best alleviate these problems by broadening
the government is mishandling the patenting office with the awarding of patents for human genes. Gene patenting is blocking the advancement of modern medicine and could be costing many patients their lives. The hold on research results in the discovery of fewer cures for modern diseases. The United States Patent Office awards patents to companies that discover cures, tests, and medical operations for human genes. These patents are in use to compensate these companies for their discovery and encourage
Apple Inc. v. Samsung Electronics Co.: An Exploration of Patent Law and Ever-Evolving Technology April 15, 2011 marks the date that kick-started the most high-profile US design patent cases of all time; a lawsuit that could possibly change the face of technology as we know it. Apple Inc. sued Samsung Electronics Co. on the grounds that Samsung’s smartphones as well as tablets infringed upon Apple’s technology and design patents (Apple Inc. v. Samsung Electronics Co., 2013). Deemed by the United