Patent, as a Proprietary Right for the Growth of Intellectual Property: An Analysis

Abstract

A Patent is an exclusive right, given to an inventor, to exclude others from using his invention. It excludes others from creating, producing, selling, or importing the invention. This type of exclusive right that is conferred on a patent owner is stipulated in the TRIPS Agreement. Members are free to shape the exact scope of the exclusive rights under their jurisdiction, as long as they comply with a three- step test under Article 30. Some countries will grant their patent for a period of 20 years, from the date of filing the patent application, the individual granted the patent, must show, or disclose all details, concerning the invention. Article 33 of the TRIPS Agreement provides a minimum statutory term of protection, which is 20 years from the filing date. Indeed, a number of countries provide extension of patent protection or additional protection, in order to compensate a patent owner for the period during which he was not able to exploit his patent, which could be as a result, or inability of the patent office to examine a patent application in time. Patent as a proprietary right will not serve a major barrier to access, that is mainly because most patent owners will have a strong interest to license their inventions widely, especially in middle- and low-income countries. This paper, therefore, seek to emphasize, and proffer solution to the issue of patent and some patentable inventions, and its practicability as it were.