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Patent Report

patent

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Finni Jean Tajanlangit
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34 views1 page

Patent Report

patent

Uploaded by

Finni Jean Tajanlangit
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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What is Patent Law?

Patent Law is a type of intellectual property that gives its owner the legal right to exclude
others from making, using, or selling an invention for a limited period of years, in exchange for
publishing an enabling public disclosure of the invention.

It is called REPUBLIC ACT NO. 8293 AN ACT PRESCRIBING THE INTELLECTUAL PROPERTY CODE AND
ESTABLISHING THE INTELLECTUAL PROPERTY OFFICE, PROVIDING FOR ITS POWERS AND FUNCTIONS,
AND FOR OTHER PURPOSES

What is this all about?

A patent is the granting of a property right by a sovereign authority to an inventor. A patent provides
the inventor exclusive rights to the patented process, design, or invention for a certain period in
exchange for a complete disclosure of the invention. A patent is the granting of a property right by a
sovereign authority to an inventor. Utility and plant patents are granted for 20 years, whereas design
patents are granted for either 14 or 15 years, depending on when filed.

Three types of patent:

Utility patents, or patents for invention, issue legal protection to people who invent a new and useful
process, an article of manufacture, a machine, or a composition of matter.

Design patents are patents issued for original, new, and ornamental designs for manufactured products.
Design patents protect the design or look of something. They require the invention to which the design
belongs to be original and useful.

Utility patents, or patents for invention, issue legal protection to people who invent a new and useful
process, an article of manufacture, a machine, or a composition of matter.

A real life example:

Patents provide an incentive for companies or individuals to continue developing innovative


products or services without the fear of infringement. For example, large pharmaceutical companies can
spend billions of dollars on research and development. Without patents, their drugs and medicines
could be duplicated and sold by companies that didn't research or invest the needed capital for R&D.

In other words, patents protect the intellectual property of companies to help their profitability.
However, patents also serve as bragging rights for companies demonstrating their innovativeness.

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