Patent Law And The Patent System - 1016 Words

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. Benefits The most predominate benefit to the patent system is that it gives the inventor the right to stop others from taking credit for their work or ideas. By keeping the patent system, as a monopoly, companies and individuals are more likely to be motivated to become innovative which, in turn has the possibility of advancing the economy (Inventor Basics, 2011). Along with possibility of further innovation, the patent holder maintains exclusive rights to use the invention as they wish. Therefore, in some cases this leads to a higher profit for the inventor; which can balance out the costs of applying for a patent (Inventor Basics, 2011). One further positive for the patent holder maintaining all rights to their invention deals with theShow MoreRelatedPatent Indirect Infringement Of Patent Infringement1202 Words   |  5 Pages1.Introduction Patent indirect infringementï ¼Å'as the name impliesï ¼Å'is opposite to patent direct infringement. Generally, the conception of patent indirect infringement is to meet the need of pantent protection. It expands the protection domain of the patent right to the no-patented products, improves patent protection’s horizontal and provides sufficient legal protection for patentees. Nowadays, more and more countries ordain the system of indirect infringement in their patent laws in order to protectRead MoreThe Patent And Its Effect On The Improvement And Advancement Of Overall Technology1588 Words   |  7 PagesA 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. andRead MoreThe Smartphone Industry : A Competitive Market1693 Words   |  7 Pagesutilize patents to increase their sphere of influence within the tech wing. Company growth and the bottom line may be the primary focus, but a secondary goal of stagnating competito rs through tech control is vital to staying king of the hill. Intellectual property is defined as an invention or work that is the result of creativity. A company may apply for a patent, copyright, or trademark to protect intellectual property. A patent is essentially a limited monopoly in which the patent holder isRead MoreIntellectual Property And Technology : The Real World : Legal Matters Sweet As Candy1071 Words   |  5 Pagesproperty law comes into play. The impact intellectual property law has on the technology industry is demonstrated through its procedures, demand, and recent successes. High Tech Intellectual Property Law Intellectual property is defined as â€Å"intangible rights protecting the products of human intelligence and creation, such as copyrightable works, patented inventions, trademarks, and trade secrets.† The most common use of intellectual property law in the field of technology is patent law; patents areRead MoreApple Inc. v. Samsung Electronics Co.: An Exploration of Patent Law and Ever-Evolving Technology1166 Words   |  5 PagesApple 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 UnitedRead MoreHarmonization Of International Patent Law1350 Words   |  6 Pagesboundaries 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 simila ritiesRead MoreThe Mayo Collaborative Services And Mayo Clinic Rochester1355 Words   |  6 Pages(Prometheus) patents. After Mayo’s Prometheus sued Mayo claiming patent infringement. This paper will examine the Mayo Collaborative Services v Prometheus Laboratories, Inc. case that refers to the patent infringement law. We will examine both sides of the case by exploring Diamond v. Diehr, Mackay Radio Telegraph Co. v. Radio Corp. of America, Bilski v. Kappos, and Parker v. Flook’s relationship with the case. This paper will ultimately conclude in favor of Mayo because Prometheus’ patents effectivelyRead MoreEssay On Patent Systems1342 Words   |  6 PagesLaw Regulations (ACE 592) Juhi Tomar 1. Patent systems allows inventors all around the world to file and claim some form of intellectual property as their invention which gives them exclusive rights to make use of this property for a certain period of time (usually 20 years), after which it is available for public use. The inventor must release all details regarding the invention which are needed to utilize the property by experts/professionals in the field. The patent system gives rise to manyRead MorePatent Laws And Its Legal Justifications1704 Words   |  7 Pagesof them being the patent system. Patent is an intellectual property right that relates to innovations and grants exclusive ownership right of an invention to a patentee, and protects the patented product to reproduction, using, selling, importing, or process producing the patented product (John and Wendy 1). This paper explores the patent law in India in relation to its legal justifications(domestic and international), as well as the ethical considerations in relation to patent medical drugs. TheRead MoreIntellectual Property in India909 Words   |  4 PagesIntrà ¶ductià ¶n It was never the à ¶bject à ¶f patent laws tà ¶ grant a mà ¶nà ¶pà ¶ly fà ¶r every trifling device, every shadà ¶w à ¶f a shade à ¶f an idea, which wà ¶uld naturally and spà ¶ntaneà ¶usly à ¶ccur tà ¶ any skilled mechanic à ¶r à ¶peratà ¶r in the à ¶rdinary prà ¶gress à ¶f manufactures. Such an indiscriminate creatià ¶n à ¶f exclusive privileges tends rather tà ¶ à ¶bstruct than tà ¶ stimulate inventià ¶n. It creates a class à ¶f speculative schemers whà ¶ make it their business tà ¶ watch the advancing wave à ¶f imprà ¶vement, and gather its fà ¶am