The Exhaustion of Patent Rights
A patent granted by a government gives the inventor or pioneer of a device or process the exclusive rights to use or manufacture that device or process. However, a patent is for a limited amount of time.
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History of Patents
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The first patent issued in the United States was in July 1790, though the concept was known in 17th-century England, and even in ancient Greece.
Though there are minor differences in patent law from country to country, the World Trade Organization's Agreement on Trade-Related Aspects of Intellectual Property Rights states that patents should be protected for the minimum of 20 years.
Definition
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Basically, a patent allows the person who owns it to prevent others from manufacturing, selling, or using the same item without licensing or permission, for 20 years. In the United States, a maintenance fee must be paid 3.5, 7.5 and 11.5 years after the original application.
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Exhaustion of Rights
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The exhaustion doctrine, which is also called the doctrine of first sale, states that the owner of a patent loses certain rights upon the first sale of a patented good or service. Thus if the patent owner sells to another party, the buyer can go on to sell to someone else without the patent owner's permission.
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References
- Photo Credit document case image by Maya Kruchancova from Fotolia.com
