In many countries there are restricted areas where patent laws are applicable and these include such areas as methods of businesses and also act of mentality. The patent rights prevent other entities from selling, using, making or distribution of the invention without the patentee permission (Lehman, 1995).
Agreement on Trade Related Aspects of Intellectual Property Rights of the World Trade Organization is applicable to all members of the organization as far as any inventions are considered especially as far as technology is concerned. The protection term has been to be more than twenty years by the organization (Steinberg, 2005).
A patent excludes others from making use of your invention for a limited period usually 20 years subject to fees maintenance. In essence it is like any other property right because it can be sold, transferred, or basically abandoned once the exclusive period has expired. The government is the provider of the exclusive rights but only if you agree to provide the invention details to the public after the stipulated period of 20 years or 17 years. The rights of the patent vary according to different nations (Silverthorne, 2004).
Since the patent gives the patent holder some exclusive rights and indeed a monopoly it does not however mean that the patent holder can in any way can a ...Show more