Intellectual Property Law Essay Example | Topics and Well Written Essays - 4000 words

Intellectual Property Law - Essay Example An understanding of the philosophical premises behind Property rights are necessary in the understanding of the tug of war between the owners and the users of intangible information.1 Legal Commentators have often expressed their doubts as to whether these rights are actually rights or privileges as Machlup and Penrose have noted:2 " ... those who started to use the word property in connection with inventions had a very definite purpose in mind they wanted to substitute a word with a respectable connotation, 'property', for a word that had an unpleasant ring, 'privilege'." Intellectual property as a "property" thus is an intangible category of property with boundaries that are not always clear cut and which must be actively defended by the holder against infringements. 3 Tangible property is however visible and documented, and the boundaries are more easily given than for intellectual property.4 The law has developed to protect a person who holds certain intellectual property will be able to defend this property only if he/she is granted a particular right over this property. For example in relation to patents the rights are defined by the patent authorities based on what is defined in the patent claims.Like other property (tangible) one has to pay certain fees in order to have their "intellectual" property claim examined and determined and also of continuance fees paid.5 The concept of property rights thus stems from the ideas of John Locke.6Furthermore the notions of property rights developed in the 18th century as one of the core civil rights parallel to-and mutually reinforcing-the right to liberty.7However, most philosophers have put forward the notion that property is not a natural right but rather a deliberate construction by society in order to secure protection against pressure from the collective.8 Subscribing to the view that property is justified as a foundation for liberty and personal security which provides incentives for long-term investments.Also that if these rights are not balanced or protected they will affect economic growth and poverty reduction.as unpredictable property relationships always impeded impede economic growth.9Revisiting the tangible and intangible discussion between property it can be seen that it has been argues that while tangible property rights easily cause conflict this is not the case with as the popular notion with in the case law is that "no patent can stop a person from continuing something he has done before"10.However the problem arises before the courts when the patent claims do not just include what is actually new and invented and this causes problems in identifying what is known and whether existing processes and products would infact infringe the patent.There is a marked certainity thus despite the legal framework with regard to which a ctivities are acceptable and which activities might infringe the patent. A granted patent right is considered to fall within the scope of "possessions" inArticle 1 of Protocol No. 1 to the European Convention on Human Rights andFundamental Freedoms. However, the European Court of Human Rights has declined to give an opinion on whether a patent application

Internship course (report) Essay Example | Topics and Well Written Essays - 1000 words

Internship course (report) - Essay Example I learnt about the Murabaha where the bank sells an asset at a pre agreed cost and profit after purchasing an item either will full payment or on a deferred basis. The bank benefits from the profit earned and the seller of the property also benefits since the selling takes place in a shorter time. Another product of the bank is the good Murabaha and the vehicle Murabaha whereby the bank takes responsibility of selling goods or a vehicle at an agreed cost with the seller who is a client of the bank. Immediately after the sale takes place, the bank deducts their agreed profit% and gives the rest amount to the seller(Hammonds, 2007). I learnt about the letter of credit (L/C) which is a method of payment whereby the two parties have ample protection. The bank writes to an exporter on behalf of an importer who is their client and it verifies and guarantees payment. The bank also offers financial protection to its customers through construction surety bonds such as bid bonds and performance bonds. Through these finical protections, the client of the bank is able to evaluate a construction company. Surety and bid bonds have a slight difference but in both, the construction company agrees to pay the bank a certain amount which the client is given in case the contractor fails to complete the project. The bank also offers payment guarantee as a service to their customers and return they charge a pre-agreed % on the recovered debt. The client of the bank, who in such a case is the person demanding payment, approaches the bank and provides details of the debt agreement with the debtor and leaves the task of demanding the payment to the bank. The bank also offers a service called Mudaraba which is basically an agreement between the bank and their client. In this service, the bank provides finance for a certain project which is proposed by the client who in turn provides the technical knowhow of carrying out the venture. The venture must be