Patents and their role Essay Example | Topics and Well Written Essays - 2000 words

Patents and their role - Essay Example Introduction Writers, inventors, artist, scientists transform their idea into tangible products or property which is reflective of all the research and effort done in achieving that final product. When this property is protected under the law it is called intellectual property rights (IP). Patents, copyrights, trademarks and trade secrets are all examples of intellectual property rights. Inventions, innovations, discoveries and artistic work etc. are as old as human history then why patents are required now. With the onset of globalization and communication mediums such as internet etc. information and knowledge transfers very easily at a very high speed. Patent rights prevent others from copying, making, using or selling the property. Patent is basically a reward to the inventor. This paper aims at studying in detail what exactly patent rights are? What was the need of their development and implementation? Some research related to rules and regulations of the patent law will also be conducted. The paper will also discuss the importance and benefits of patents. Intellectual Property Rights Intellectual property can be defined as the product of human intellect which have commercial value and that is protected by law. Intellectual property generally includes creative works, products, processes, imagery, inventions and services. These intellectual properties are protected through patents, copyrights and trademarks. Intellectual property rights along with other regulations and court decisions secure the rights through following activities. Firstly it includes restriction on selling or licensing of intellectual properties. Secondly, resolution of conflict between companies over intellectual properties and services. Lastly it involves administrative procedures such as registration and administration of intellectual property rights. There are three types of intellectual property rights patent law, copy right law and trademark law. Patent types Patent law is further di vided into three categories according to the type of the product. The three categories are utility, design and plant. The most common type of patent right is utility patent. Utility patent is usually reserved for the invention of a new yet non-obvious product. The inventor of this innovative product is granted the exclusive right of selling, using and making of this product for a period of about 17-18 years. The patent granted for new but nonfunctional design is for the period of 14 years. The expiry date of the patent of plant is the longest it lasts for twenty years (Stim). Utility patents as described above are reserved for new, non-obvious, innovative and useful discoveries. These discoveries are further categorized into five types namely processes, machines, manufacturers, compositions of matter or improvement into any of these types. Design pattern is granted for an article of manufacturer (Law). Features of Patent A patent is not just a legal document but it is a technical pu blication and it even serves the purpose of a sales brochure. It is called a technical document because it must contain sufficient information about the product which is useful for person interested in making and using the patent. Such a document is a source of technical information for the public which is not available otherwise. It also serves the purpos