Essay II - Catherine Rivas Bus 200 Prof. Michels November...

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Catherine Rivas Bus 200 Prof. Michels November 24 th , 2011 Legal Analysis Essay II Part 1 “The United States patent system is designed for the independent inventor- for the person whom Nikola Tesla describes as the lone worker who follows the fleeting inspiration of a moment and finally does something that has not been done before” (Seabrook). The idea of the patent system is to promote “science and the useful art,” to protect inventors’ valued creations against those who would infringe on the right granted to them by federal law. Joe Enterprise, the president of Ford Motor Company believes that Congress should eliminate the patent law; he does not recognize the damage the exclusion of the patent law would cause our society. Patents should not be eradicated for several reasons. First, the elimination of patents will discourage inventors and researches from creating and improving inventions. Second, patents should exist to reward inventors. Finally, patents create jobs and helps drive the economy. One of the key purposes of patents is to encourage inventors to invest their time and money in research and development. For example, developing a new medicine can take a lot of time and money. It involves many years of research and clinical testing, which can be very costly. If pharmaceutical companies are going to make an investment into a new product, then they will want to confirm that they will be able to protect their intellectual rights and that they will be making profit from the new drug. If patent law is eliminated, pharmaceutical companies will not be willing to develop new medicine because the creation can be easily copied by others. A disadvantage in granting the exclusivity to the patentee is that, since we are aware that
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patented drugs can be more expensive than their generic counterparts, it is not fair that the lives of many people depend upon access to a new drug, which they can only afford if it is available in an inexpensive, generic form. It is understandable, that not everyone has the resources to buy expensive drugs, however they have to understand that pharmaceutical companies invest large amount of money to help find cures to diseases. Also, there are health insurances that can partially cover the cost of the drugs. Patents reward those hardworking researches and inventors who have advanced and modernized our society. As a reward, inventors are given the exclusive right to manufacture their invention and grant licenses to others. They should be the ones to decide how much they wish to sell their invention for, and which company should they grant licenses to. Inventors should decide because at the end of the day it was their creation. For example, using the article “Flash of Genius”, Kearns sought $50 for every vehicle to which his patent would apply. The revenue he would have received if Ford did not steal his idea accounted for what he deserved for creating such great improvements on windshield wipers. It also compensates him for the long hours he
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This note was uploaded on 03/20/2012 for the course BUS LAW 320 taught by Professor Soos during the Spring '10 term at Rutgers.

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Essay II - Catherine Rivas Bus 200 Prof. Michels November...

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