The Advantage And Disvantage Of Patent System

The Advantages and Disadvantages of the Patent System - from an Approach of Patent Law later on 6 rounds of lawsuits since 2004, in Dec 2010 Protech, a Chinese go alongical anaesthetic company in the long run won the sheer infringement lawsuit against Leviton Manufacturing Company, an American base global top 500 company. This is the depression time that a Chinese enterprise prevails in U.S. patent law. But the toll is gigantic: 6 years time and over 30 million US dollars 1. The lawsuit has caused a hot controversy in mainland China on how and if patent should be protected. It is a long-time existing turn: is patent system really economically efficient or is it good for the maturement of the whole society. handed-down patent system supports that patent law boosts initiation, increases the economic growing and contributes to the technology improvement. Chinese patent law stipulates in its first term that the legislation of patent law is to protect the patent right of the inventor, encourage world, help to widen the application of the basis and to improve the development of sciences and technologies. The patent-supporters hold that patent system go away clear huge economic benefit, ie. patent system give incentivize more than innovation and hence add more novel products or new method to the society. They argue that innovation itself is a loving of public welfare and the society should encourage its realization. provided the materialization of the innovation or other smart holding requires big gist of manpower and monitory input, and if the innovation has been publicized, it whitethorn be copied or imitated easily. If there isnt any protection over the intellectual property, other competitors can copy the innovation at a much lower cost. This caused the so-called free-riding problem, which kernel the inventor bears huge research and development cost fleck other competitors enthral the result at lower or even no cost. This will largely demotivate the innovation ! of individuals or companies...If you want to trounce a full essay, order it on our website: OrderCustomPaper.com

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