An Overview of the U.S. Patent System

Thursday, 31 July 2014 01:07 by The Lunatic

(Note: This was a term paper I wrote for an MBA class in 2012. I recently ran across it in my files and thought it would be a good addition to my blog. Enjoy!)

An Overview of the U.S. Patent System
David M. H. Workman

Introduction

A Patent is a form of legal protection for an invention, allowing the patent holder to have exclusive rights to make, use, or sell the invention for a specific period of time (typically either 14 or 20 years in the U.S., depending on the type of patent).

To secure a patent, a Patent Application is submitted to the U.S. Patent and Trademark Office (USPTO); the application consists of two major elements: a description of the invention, and certain claims (which define the scope of protections desired under the patent application). The USPTO may grant the patent for the invention, but allow or disallow each of the claims individually. “Broad” claims mean that the applicant is asking for the invention to be protected in a wide range of uses, and are more likely to be rejected (and if allowed, are more likely to be challenged by competitors). “Narrow” claims mean that the invention has very focused and well defined commercial applications, which are less likely to be challenged.

For a patent application to be approved, it must meet a certain bar for (1) Novelty, (2) Non-Obviousness, and (3) either Utility, Distinctiveness, or Ornamentality (depending on whether it is a “Utility”, “Plant”, or “Design” patent, respectively). The USPTO reviews the patent application to ensure that the patent, and each of the claims, meets the bar for each criterion.

During the application process, the patent may be rejected if “prior art” (i.e. any published diagrams or descriptions which show that the invention is not original) is found by the USPTO, or if any aspect of the invention was publicly disclosed by the inventor before the filing date. Even after the patent has been granted, others may challenge the validity of the patent (or any of the individual claims) if prior art is presented which is proven to have been publicly available before the application date.

Patents cover an amazingly diverse range of ideas – from describing the optimal radius of the bend in a wire paper clip, to More...


Categories:   Economics | Miscellaneous
Actions:   E-mail | Permalink | Comments (0) | Comment RSSRSS comment feed