Patents as a measure for eco-innovation

Abstract

First paragraph: What is a patent? A patent is an exclusive right to exploit (make, use, sell, or import) an invention over a limited period of time (20 years from filing) within the country wherethe application is made. Patents are granted for inventions which are novel, inventive(non-obvious) and have an industrial application (useful). There are other types ofexclusive rights over intangible assets, notably copyright, design protection andtrademarks, but patents provide a broader protection that extends beyond the specificexpression of an invention to the invention itself. Due to this control over the technology,the patent holder is in a position to set a higher-than-competitive price for thecorresponding good or service, which allows recovery of innovation costs. In return, theapplicant must disclose the invention in the text of the application, which is published 18months after application (From OECD report Patents and Innovation: Trends andchallenges, 2004, p.8).