Building Markets for Knowledge Resources by Della Peruta Maria Rosaria;

Author:Della Peruta, Maria Rosaria;
Language: eng
Format: epub
Publisher: Emerald Publishing Limited
Published: 2016-10-21T00:00:00+00:00

Innovative knowledge is protected through IPR. Patent rights are a subset of IPR and are registered rights. Patent rights give people ownership rights to the results of their intellectual creativity and invention, acting in a similar, albeit not identical, fashion to owning material property. Patent rights are granted by patent offices to inventors or their successors for a prescribed period of time (typically, up to 20 years), giving them the absolute right to exploit these inventions. As part of the process, when people apply for a patent, they must describe the subject of the application “in a manner sufficiently clear and complete for it to be carried out by a person skilled in the art” (Art. 83 of the European Patent Convention). The patent application defines precisely the conditions of protection being sought, expressed in a legal and technical manner. Patents can be granted to individual people, companies and other bodies. Once the patent office grants a patent, it places the subject matter and content in the public domain. The patent holder (known as the patentee) gains the exclusive right or monopoly, for a given period of time, over the manufacture, usage and selling of the contents subject of the patent. As a consequence, the patentee is legally protected so that others cannot benefit from the product or invention, but the patentee can license or sell it. It is by this means that knowledge covered by a patent can be transferred to or shared with third parties. When a third party acquires a patent or a license, they perceive it as an investment and expect to benefit from the transaction at some reasonable point in time (Troy & Werle, 2008).

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