Example Of Contrasting And Comparison Of Patent And Intellectual Property Rights (IP) Essay
Type of paper: Essay
Topic: Invention, Patent, Business, Commerce, Copyright Law, Property, Government, Politics
The corpus of patent entails the provision or granting certain property rights to a person that has invented new ideas and knowledge (Mansfield, 909). This right may be granted by the government, through trademark offices or by the Patent Office. Patents are usually granted within a specific period of time, although the length of this time varies from one nation to another. In the United States, the length of the period, which a patent is granted is 20 years from the exact date when the patent is applied (Mansfield, 909). Additionally a patent is basically considered a trade between a trademark office or the government and the inventor. That is, an inventor sells his/her idea to the government and the government in exchange offers exclusive rights to the inventor to use the idea/knowledge within a specific period of time. A case of a patent may occur when a person develops a new method of communication and informs the Trademark Office or the government of this idea, while paying certain fees to ensure that he/she is provided with exclusive rights to use this information over specified period of time.
In terms of Intellectual Property, it encompasses patent, copyright and trademarks among others. Intellectual property is basically personal idea such as; literary works, music creation, artistic works, symbols, logos, images, names of products or organizations and symbols (Helpman, 12). It is these ideas that are protected by the law in the form of patents, copyrights as well as trademarks. As such, the major similarity between Intellectual Property (IP) and Patent is the existence of a unique idea and an inventor in both cases, while their main difference is the fact that a patent is basically a legal structure used to protect personal ideas or intellectual rights of an individual (IP) (Cornish, 7).
Helpman, Elhanan. Innovation, imitation, and intellectual property rights. No. w4081. National Bureau of Economic Research, 2012.
Cornish, William et al. "Intellectual property: patents, copyright, trade marks & allied rights." (2013).
Mansfield, Edwin, et al. "Imitation costs and patents: an empirical study." The Economic Journal (1981): 907-918.