SAQ 5: Give an example of ‘trade secret protection’ and what it protects?

Answer: The speaker discussed how some trade secrets are maintained. For example, Coca-Cola® has done this for over 100 years and as long as itcontinues to successfully maintain the secrecy of its formula, then the intellectual property protection will endure even longer than would a patent. Trade secrets protect the know-how and technical expertise, for example, to use particular information in the most useful ways.

Summary

This module has introduced the patent area of intellectual property. Patents are one of the oldest forms of intellectual property protection and, as with all forms of protection for intellectual property, the aim of a patent system is to encourage economic development by rewarding intellectual creativity. This module explained that the aim of a patent is to encourage economic and

technological development by giving reward to intellectual creativity. Under patent protection, both new creations and the further development of existing ones are covered. A breakthrough in science like the invention of penicillin is as equally important and protected as a new lever on a machine invented to make the machine run faster. Patents protect inventions and in general, an invention may be defined as a new solution to a technical problem. The solution is the ‘idea’ and protection under patent law does not require that the invention be represented in a physical embodiment. However, there are things that cannot be patented. These include; things discovered in nature and machines that defy the laws of nature, such as a perpetual motion machine. Other exclusions, which are commonly set out within the applicable law, are scientific theories and mathematical methods; schemes, rules and methods for doing business; and methods of treatment for human or animals or diagnostic methods.

Once a patent application is on file, there are two general approaches: in some countries it is reviewed only as to formalities, while other jurisdictions also examine the application substantively by a technical expert to ensure that it meets the requirements of patentability. Characteristics that an invention must have are:

- it must be new or novel;

- it must involve an inventive step,

- it must be capable of industrial application.

In short, a patent is a deal between the public and the inventor. The state, by giving protection for a fixed term ensures that the inventor gets rewarded. After expiration, which is typically 20 years after the date of filing of the application of the patent, the invention becomes available for anyone’s use. The enforcement of one's patent is a large subject, and it is the patent

holder that must negotiate or litigate the infringement of their rights. Since there is no such thing as worldwide protection, an inventor must pay filing fees and maintenance fees to each country where he or she wishes to be protected.

Legislative Texts:

• Paris Convention for the Protection of Industrial Property

• Patent Cooperation Treaty (PCT)

• Agreement on Trade Related Aspects of Intellectual Property Rights

(TRIPS Agreement)

Date: 2015-12-18; view: 668