Patents and Economic Development
Do patents really help economic development in developing countries? Let’s take a look at some of the issues patent law is currently debating with.
The recent history seems to show that technology and knowledge are important factors for economic growth and development. Since the creation of the first mechanism to protect inventions in 15th century, the patent system has evolved with a view to promote innovation and encouraging economic development. By offering exclusive rights for a limited period, an inventor may recover R&D costs and investments. It also promotes investment to commercialize and market new inventions so that the general public can enjoy the fruit of the innovation. Further, the system is designed to disseminate knowledge and information to the public through publication of patent applications and granted patents.
Many countries, in particular least developed countries, have only begun to address the challenges of setting up an appropriate patent system in place to reap economic and social benefits. The development of these countries’ resources and infrastructure and their capacity to benefit from the rapid growth of intellectual property as a valuable economic asset in the world economy remain an urgent concern.
Standard US TM Search includes US Federal and State search. Comprehensive US TM Search also includes US Common Law databases and Internet Domain Names. Comprehensive US and International TM Search also includes searches in Canada, Europe, United Kingdom, Germany and WIPO. Customized searches are also available to assist clients with a legal analysis for brand availability or expansion, company names, foreign trademarks or common law.
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