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The European Patent Convention requires all jurisdictions to give a European patent a term of 20 years from the actual date of filing an application for a European patent or the actual date of filing an international application under the PCT designating the EPO. [2] The actual date of filing can be up to a year after the earliest priority date.
The original patent term under the 1790 Patent Act was decided individually for each patent, but "not exceeding fourteen years". The 1836 Patent Act (5 Stat. 117, 119, 5) provided (in addition to the fourteen-year term) an extension "for the term of seven years from and after the expiration of the first term" in certain circumstances, when the inventor hasn't got "a reasonable remuneration for ...
Valuation of patent rights is one of the main activities related to intellectual property management within an organization or company. Indeed, knowing the economic value and importance of the intellectual property rights assists in the strategic decisions to be taken on the company's assets, but also facilitates the commercialization and transactions concerning intellectual property rights.
Under 35 U.S.C. § 284, a patent owner is entitled to "damages adequate to compensate for the infringement, but in no event less than a reasonable royalty." [8] Lost profits that result from infringement of their patent are also compensable. Reasonableness is determined by the standard practices of the particular industry most relevant to the ...
Reverse payment patent settlements, also known as "pay-for-delay" agreements, [1] are a type of agreement that has been used to settle pharmaceutical patent infringement litigation (or threatened litigation), in which the company that has brought the suit agrees to pay the company it sued. That is, the patent holder pays the alleged infringer ...
The purpose of the inventive step, or non-obviousness, requirement is to avoid granting patents for inventions which only follow from "normal product design and development", to achieve a proper balance between the incentive provided by the patent system, namely encouraging innovation, and its social cost, namely conferring temporary monopolies. [4]
Judging patentability is one aspect of the official examination of a patent application performed by a patent examiner and may be tested in post-grant patent litigation. Prior to filing a patent application, inventors sometimes obtain a patentability opinion from a patent agent or patent attorney regarding whether an invention satisfies the ...
This provides market exclusivity for the drug innovator outside of any patent rights. [5] Second, the Act allows the life of patents covering a drug to be extended by a portion of the time the drug is under regulatory review by the FDA, ensuring that regulatory review will not unduly consume patent life. [5]