QST LA 245 Chapter Notes - Chapter 23: World Intellectual Property Organization, Patent Law Treaty, Trademark
23 Jul 2018
School
Department
Course
Professor
Document Summary
Intellectual property laws increase the price of many medicines that could save lives if only they were cheaper and, therefore, more readily available. Patents can sometimes stifle innovation because companies can"t conduct research on, for example, many cancer-fighting drugs, because of patents held by its competitors. Some companies become more aggressive about patenting every possible aspect of their research. The role of intellectual property laws is to balance the rights of those who create intellectual property and those who would enjoy it. A patent is a grant by the government permitting the inventor exclusive use of an invention for 20 years (or. 14 years in the case of design patents) During this period, no one may make, use, or sell the invention without permission. In return, the inventor publicly discloses information about the invention that anyone can use upon expiration of the patent. Design patent: a design patent protects the appearance, not the function, of an item.
