Why a Patent
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There are number of reasons that justify patent protection,
the most common reasons are as follow:
- Patents give incentives for economically effective Research
and Development by giving a monopoly on the patented invention. This
encourages businesses to put millions of pounds into R & D
which is ultimately of benefit society as a whole.
- Patents encourage the disclosure of inventions to the
public, without the protection of a patent many inventors would prefer
to keep their inventions secret.
- In some industries the cost of actually implementing an
invention is higher than that of the R & D, if there was no way
of protecting the invention then competitors would simply copy the
invention and manufacture it for a fraction of the cost.
- Due to the exclusive nature of patents competitors are
encouraged to think up so called 'work around' ideas i.e. they know
they cannot use the original invention due to the patent but how else
could they come about with the same end result? This brings about the
creation of alternative technologies which but for the patent would not
have been worked upon.
- Finally the registration of a patent will make the owner of
the patent rather wealthy, in 2013 the Intellectual Property
Organisation published a list of the Top 300 patent owners worldwide,
the top ten included names such as Samsung electronics, Canon K.K, Sony
Corp, LG, Microsoft, Toshiba, Panasonic and Google, no surprises!
Written by Rehana Ali
About the Author
Solicitors offer services and advice for litigation,
commercial contracts, Intellectual Property and IT legal agreements. We
are experts in commercial law with a heavy emphasis on Intellectual
Property, Internet and e-commerce law. Lawdit is a member of the
International Trademark Association, the Solicitors' Association of
Higher Court Advocates and we are the appointed Solicitors to the
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Article Published/Sorted/Amended on Scopulus 2014-12-08 08:54:16 in Legal Articles
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