Reading: (CU2 M3) Patents
Patent law is an increasingly complex area of the law filled with conflict and controversy. It creates a property right of the design of useful new inventions for a certain period, after which the patent expires. Be sure to take note of the three types of patents. Note also the kinds of things that cannot be patented. The section includes an interesting exploration of the ability to patent a living thing. Note the remedies available to patent holders when patents are infringed upon and the emergence of patent holding companies, or patent trolls, which derive revenue solely from suing for patent infringement.
Please read The Legal and Ethical Environment of Business: Chapter 9 Section 2 (Patents) (Links to an external site.)Links to an external site. (PDF)