2. Introduction: UN multilateral trade organization formed on
January 1, 1995 as the successor to GATT and the court of
final settlement in trade disputes.
WTO
The World Trade Organization (WTO) is the only global
international organization dealing with the rules of trade between
nations.
3. Objectives:
1. Removal of all barriers to international trade in goods, services
and intellectual property.
2. Equitable and speedy resolution of disputes between trading
partners.
3. Identification of non-compliance with trade agreements.
4. PATENT LAW :The law of patents is a legal framework that
establishes a patent system which supports and encourages
technological innovation and promotes economic development.
Patents : A patent is a grant by the federal government to an
inventor, which gives him the exclusive right to make, use and
sell his invention for a specified period of time.
5. Patent Rights: "the exclusive right granted by a government to
an inventor to manufacture, use or sell an invention for a certain
number of years.
Limitations:
1.After the term of the patent has expired, anyone is free to make,
use or sell the patented device.
2.A patent may not be renewed.
3.The patent holder may continue to make, use and sell his device.
6. Types of Patents : There are of three different types:
1.Utility patent: These have a term of ten years from the
filing date.
2.Design patent: 14 years from the date of issuance in the
USA. The rules vary in some other countries.
3.Plant patents: It is a patent issued for newly invented strains
of asexually reproducing plants.
