Unit 3 Lesson 5 Technology Transfer and Patents

Big Idea Patents are catalysts of new technologies and businesses and they stimulate economic development through technology transfer.

Purpose of Lesson: To familiarize students with the relationship between the protection of intellectual property through the patent process and technology transfer.

Selected Learning Objectives: Define intellectual property (IP) Explain a patent Describe the relationship between the protection of intellectual property and economic growth. Research and report on the patent process. Interpret information about patents and technology transfer using graphs.

Engagement Students, working in pairs, write a one-sentence analysis of the following quote. “Imagination is more important than knowledge.” Albert Einstein Share your thoughts on the quote

Intellectual Property what is meant by the term “intellectual property?” Share your thoughts

Intellectual property (IP) is an umbrella term for various legal entitlements that attach to certain names, written and recorded media, and inventions. The holders of these legal entitlements may exercise various exclusive rights The term intellectual property reflects the idea that this subject matter is the product of the mind or the intellect.

Intellectual Properties The term implies that intellectual works are analogous to physical property and is d. consequently a matter of some controversy. Albert Einstein’s preference for imagination over knowledge is a starting point, because IP is based on the power of imagination Einstein understanding of IP That it is the source of personal, cultural, and economic advancement.

Think Think for a minute about the relationship between Intellectual Property and economic well-being of a nation. Write down your thoughts in a word document Students will present their ideas regarding the relationship between Intellectual Property and economic well-being of a nation.

Exploration The economic well-being of a nation is sometimes expressed in terms of Gross National Product or Gross Domestic Product (GDP). GDP = C + G + I + NX "C" is equal to all private consumption, or consumer spending, in a nation's economy "G" is the sum of government spending "I" is the sum of all the country's businesses spending on capital "NX" is the nation's total net exports, calculated as total exports minus total imports. (NX = Exports - Imports) Read more: zOdxbusinesses zOdx

Copyright - is the area of the law that provides protection to original works of authorship such as: Books painting architecture musical compositions computer software Copyright

Patents an indication of the amount of invention and innovation going on in a county is the number of patent applications.

Which Country had the greatest increase in patents between 94-98

Economic Growth Why are some countries are rich and others poor? It is generally agreed that knowledge and inventions have played an important role in recent economic growth. accumulation of knowledge is the driving force behind economic growth.

Promoting Growth For countries to promote growth, their economic policies should encourage investment in new Research and Development (R&D) and subsidize programs that develop human capital.

Four ways patents can help economic growth Patent information facilitates technology transfer and foreign direct investment. Patents encourage research and development at universities and research centers. Patents are catalysts of new technologies and businesses. Businesses accumulate patents and engage in licensing, joint ventures, and other revenue-generating transactions based on such assets.

Technology transfer (spin-offs) occurs when a new user applies an existing innovation developed for one purpose in a different function. Ex) Wheel chair made of aerospace composite material Light Weight Easy to Manuever

Question “What is a patent?”

Answer a patent is an exclusive right granted for an invention, which is a product or a process that provides a new way of doing something or offers a new technical solution to a problem.

“ What does a patent do?”

Answer a patent provides protection for the invention to the owner of the patent. The protection is granted for a limited period, generally 20 years.

“ What kind of protection does a patent offer?”

Answer Patent protection means that the invention cannot be commercially made, used, distributed or sold without the patent owner’s consent. These patent rights are usually enforced in a court, which, in most systems, holds the authority to stop patent infringement. Conversely, a court can also declare a patent invalid upon a successful challenge by a third party.

“ What rights does a patent owner have?”

Answer who may—or may not—use the patented invention for the period in which the invention is protected. may give permission to, or license, other parties to use the invention on mutually agreed terms. The owner may also sell the right to the invention to someone else, who becomes the new owner of the patent. Once a patent expires, the protection ends owner no longer holds exclusive rights to the invention, which becomes available to commercial exploitation by others.

Patent Purpose The purpose of a patent is to safeguard the investment of the inventor or creator and to give credit where and when it is due.

Assignment Extension Students will research the following questions and develop a report on patents. (See 1. Student Resource 3.5.1) Students will answer the following questions in their reports. (See 2. Teacher Resource 3.5.2) What role do patents play in everyday life? How is a patent granted? What kinds of inventions can be protected? Who grants patents? Why are patents necessary?