Lecture 3- Intellectual Property Protection Flashcards
What does IP stand for ?
intellectual property
What are the 2 different types of Intellectual properties ?
1.Commercial Knowledge aka know how to do something and Copyright that
2.Registered Intellectual Properties aka Patents, Utility models
and Trademarks
What are utility models ?
A utility model is a registered right that gives the holder exclusive use of a technical invention. The right is given in exchange for public disclosure of the workings of the invention and is granted for a limited period.
What is a patent?
-A patent is a form of ‘industrial property’, which can be assigned, transferred, licensed or used by the owner.
-A patent 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 owner of the patent
-Patents are territorial and give an exclusive right in the country where the patent has been granted as long as the patent is renewed each year through the payment of a renewal fee, e.g. an Irish patent is only valid in Ireland (Republic of Ireland only).
-Patents protect technological advances. New or improved products or processes are eligible for patents.
what is intellectual property ?
refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.
What are trade marks?
A trademark is a type of intellectual property consisting of a recognizable sign, design, or expression that identifies a product or service from a particular source and distinguishes it from others. A trademark owner can be an individual, business organization, or any legal entity
What is copy right?
A copyright is a type of intellectual property that gives its owner the exclusive legal right to copy, distribute, adapt, display, and perform a creative work, usually for a limited time. The creative work may be in a literary, artistic, educational, or musical form
What is the difference between Patent, Trademark and Copyright?
A patent protects new inventions, processes, or scientific creations, a trademark protects brands, logos, and slogans, and a copyright protects original works of authorship.
Where does the word patent come from?
Ancient Greece, latin is patens, to lay open
What was the first law surrounding patents?
Venetian Patent Statute was a law created in Venice in 1474,
That gave inventors the right to be the only ones who could make and use their invention for ten years.
why? b.c of italian renaissance
Are patents a societal bargain and what philosophy surrounds patents?
YES and Utilitarianism-advocates for society that foster the wellbeing on others and opposes actions the promote harm
What are the right of exclusion ?
Based on geography , time period and intangible assets which are hard to quantify unlike tangible assets like buildings
What is the ‘good’ or benefit of patents in society?
- incentive to invest in R&D
- incentive to invest
- Incentive-to-commercialize
- Incentive to disclose
- Incentive to design around
What does it mean by incentive to invest?
It suggests that patents are given to inventors to encourage them to invest in their ideas and bring them to the market.(safety, proven innovative, time period of insured no competitors,or generic drugs)
What does it mean incentive to disclose ?
The incentive-to-disclose theory is a concept related to patents. It suggests that granting patent rights encourages people to share their knowledge with the public, which benefits society as a whole. Without this incentive, people may keep their discoveries secret, leading to wasted efforts and resources.
(make certain things public knowledge can see investors, structure of product, design and vague details about process)
what does it mean incentive to commercialize ?
Incentive-to-commercialize theory argues that by granting the inventor patent rights, it will incentivize other parties, such as investors or manufacturers, to invest in the technology and bring it to market.
what does it mean incentive to design around?
By forcing others to avoid the claims of a patentee, the patent laws encourage creativity and innovation.
What does it mean incentive to invest in R&D ?
Exclusion rights provide stronger incentives to invest in research and development (R&D) because innovators expect to appropriate a higher share of the benefits they generate.
How is aspirin patent?
Can not patent Aspirin but can patent aspirin use in treating certain disease. Bayer lost patent and rights to aspirin after world war due by US, Patent was register in 1899 in berlin. Can have right to name but can not patent drug that is wildly known.
Why are patents important to big Pharma?
Hint theres 5 reasons
-High R&D costs
-so Return of investment (ROI) can be slow
-Long development process
-high risk
-Product sometimes easy to reverse engineer
What are the stages in a drug development process and how long does it take?
Basic research, drug discovery, clinical trails phase 1-3. Regulatory approval/FDA. Phase 4 monitoring/ post approval research.
What is the important rating from big pharma for patents ?
89% patents second was 47% know how and last was 13% trademarks and 6% copyright
what is reverse engineering ?
Reverse engineering is a process or method through which one attempts to understand through deductive reasoning how a previously made device, process, system, or piece of software accomplishes a task with very little insight into exactly how it does so.
-May infringe of IP rights and copy rights
What is a PPA?
A provisional patent application (PPA) is a document issued by the U.S. Patent and Trademark Office (USPTO) that helps protect a new invention from being copied during the 12-month period before a formal patent application is filed.
It is intended to give an inventor time to pitch the idea, test its commercial feasibility, or refine a product before committing to the expensive and time-intensive process of a formal application.