intellectual property Flashcards
The main forms of intellectual property include:
• Copyright
• Trademarks
• Data Rights
• Patents
The principal means of protecting ‘novel’ products and processes is by:
Patents – a concept that has existed since antiquity
A patent is an exclusive right:
• Granted in respect of an invention
• That must be susceptible to industrial application
• That is new (novelty)
• That involves an inventive step
Patents are normally valid for:
20 years from the date of filing (full patent)
Renewal fees are payable at stages throughout the 20 years
It confers upon its holder, for a limited period, the right to exclude others from exploiting (making, using, selling,
importing) the patented invention, except with the consent of the patent owner
Exclusivity
Patents encourage innovation by monetary means; they represent a trade-off of disclosure in return for
monopoly.
Patents have the effect of incentivising innovation but at a cost to consumers – they might allow a higher
price to be charged than if there were no patent in existence (welfare loss).
Considerable time and expense is involved in securing patents – they have to be secured in every country or
territory depending on the local legislation.
Key requirements for Patentability
• Invention
• Novelty (newness)
• Inventive Step
• Capable of Industrial Application
Any new and useful art, process, machine, manufacture, or composition or matter, or any new and useful improvement in any art, process, machine, manufacture, or composition or matter
Invention
It applies when the invention is not already part of the “State of the art’.
Novelty
It is everything made available to the public, in the State or elsewhere, by means of a written or oral description, by use or by any other means, plus any prior Patent application.
State of the Art
An invention shall be considered as involving an ___ if it is not obvious to a person skilled in the art. It is decided on a case-by-case basis.
inventive step
it can be made or used in any kind of industry, including agriculture.
Capable of Industrial Application
It includes any physical activity of a ‘technical character’, that is, it can be interpreted as the useful or practical arts rather than the aesthetic arts.
Industry
Patent Specification is the key document filed, which outlines:
Background
Scope of the invention (abstract)
Description (enough detailed to permit it to be executed after expiry by a person ‘skilled in the art’)
Claims (strict legal text that must set out the essential features of the invention in a manner to clearly define what will infringe the patent)