Patent Law

PATENT LAW

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Introduction

Definition of Key Terms

Patent law is that body of law that deals with patents , copyrights and trademarks . It is commonly referred to as those laws that deal with intellectual property rights . People who develop new inventions are entitled to profit from the same and their rights are contained in statutes that detail how the rights are to be administered . The inventor is awarded a patent for a minimum of ten years and anybody that wants to manufacture

the product must seek permission from the holder of those rights . Trademarks are registered labels by which various products go by . Thus for example the brand name Coca- Cola refers to the soda made by the Coca Cola Company . Anybody making a drink with the same name will be guilty of infringement of the law governing intellectual property rights and be liable to pay damages to the registered owner of that trademark . In addition the courts may demand that all such products be destroyed . Copyrights refer to all registered material that is acknowledged as belonging to some person or body . Thus the `Time Magazine is a copyright of the company that publishes it . Unauthorized reproduction of such material in part or in full can lead to serious repercussions for the offender . In most cases musical material , movies and print material is pirated by people who want to profit unfairly from the sale of such material . Pirated goods form a major part of illegal business especially in countries where anti piracy laws are not strongly enforced . Intellectual property rights form the basis of ones wealth The ownership of a trademark , copyright or patent entitles the holder to royalties any time their product is played , sold or reproduced

Current Situation in China

China is the world 's fastest growing economy and business activities of various types are going on in all sectors of the economy . The production of most items is by indigenous companies that have pioneered the research and development of these goods . However a significant number of producers are infringing on the intellectual property rights of others by not paying for use of their material . Books are being reproduced and sold without the author getting any benefit from the sales . Movies musical videos , and songs are being copied by unscrupulous business persons and sold on the open market . This practice has even extended to the counterfeiting of trademarks like Bic biros , Energizer batteries and established pharmaceutical trademarks like Johnson Johnson or Panadol So widespread is the practice that the holders of these patents copyrights and trademarks have complained loudly to the Chinese government to do something about it . The official response has been lukewarm and it is proving difficult to stamp out this illegal trade

Companies are making great losses as dishonest manufactures flood the market with counterfeit products that are selling at very low prices The genuine products which are priced much higher lack a ready market and consequently the companies make huge...