Key Terms
Intellectual Property (IP)
Intangible property representing the commercially valuable product of the human mind. Can exist in abstract or concrete
Example
Antiretroviral HIV/AIDS drugs cost $10,000-$12,000/year in the US; through compulsory licensing, a generic manufacturer
Location
Article I, Section 8 of the US Constitution.
Full text
Congress may "promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors th
Public domain
Works no longer protected by IP law; available for anyone to use freely without permission or royalties.
Patent
Inventor must disclose full details in the application (public record) in exchange for a legal monopoly for a set period
Patent holder
The owner of a patent.
Employee invents AS PART OF employment
Employer is the patent holder.
Patent examiner
Assigned by USPTO to review applications.
International protection
A USPTO patent does NOT automatically protect an inventor outside the US. IP is protected internationally only through t
Business method patent
Seeks to monopolize a new way of conducting a business process.
Patent infringement
Making, using, selling, or offering to sell a patented invention without the patent holder's permission.
DIRECT INFRINGEMENT
Copying and using an invention, or using it with a slight variation or addition.
INDIRECT INFRINGEMENT
"designing around" a patent by creating a product that is substantially the same and performs a similar function.
Most common defense
Challenging the validity of the patent.