Answer to Question #210498 in Management for Kathie

Question

Given the nature of the industry, how useful will be a patent be to Jim? Explain (5 marks)

(b) Suppose, Jim does get a patent, can he bring action against infringers? Will it be worth the time and expense? Why or why not? Explain (5 marks)

Answer 1

A patent is a type of intellectual property that gives its owner the legal right to exclude others from making, using, or selling an invention for a limited period of years. In most cases, patent rights fall under private law and the patent holder, in this regards, Jim, must sue someone in order to enforce his rights. Because of this therefore, Jim has legal rights to bring action against infringers and it will it be worth the time and expense. However, patent infringement is not a crime, so there are no criminal penalties. This explains why patent infringement is so common since civil penalties are not severe