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 8/10 Excellent --- www.cnet.com http://www.cnet.com/8300-13796_1-79.xml
| Michael Valek, Chris Ryan, and Matt Wermager are lawyers with the firm of firm of Vinson & Elkins LLP. Here, they discuss recent developments in our intellectual property system, the role the law plays to encourage innovation, as well as why any or all of this should matter to the rest of us. ... |
Tuesday, April 29, 2008 --- 87 days ago http://www.cnet.com/8301-13796_1-9930778-79.html?part=rss&tag=feed&subj=BLIP:Blo
| A patent is a deal with the U.S. government. In exchange for elevating the knowledge of the public in general by publishing a description of an invention, the government gives, in return, a "monopoly."
But the monopoly in the patent world is a different animal than what most would consider a true monopoly. When most people think about a monopoly, they think of the ability of one person or company to assert dominance in a certain market by being the only seller of a product. That is not the case in the patent world. A patent does not guarantee any dominance in any market whatsoever; in fact, it does not even give the patent holder the right to make the patented product at all.
While seemingly counterintuitive, this is the way the patent system has to work because of the nature of patentable inventions. Sir Isaac Newton, arguably one of the greatest scientists and inventors of all time, perfectly but unintentionally characterized the patent system when he said, "If I have seen further it is by standing on ye shoulders of Giants."
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