Why Your Phone so Smart but Expensive
Mostly every piece of technology has several patents on it. When the products are more complicated, then there are more patents on them. The smartphone is an excellent example of a small piece of technology that has many patents. In general, the Patent rights have given the reasons for companies and engineers to create innovations. Since the patent covers their hard work and any other companies that want to use it, they should pay the patent holders.
The World Intellectual Property Organization (“WIPO”) is an international organization that works related to intellectual property rights, including patents. Based on WIPO website, its defined patent as follows:
A patent is an exclusive right granted for an invention, which is a product or a process that provides, in general, a new way of doing something or offers a new technical solution to a problem. For registering a patent, inventors should provide technical information about the invention, which means the object of a patent must be disclosed to the public in a patent application.
WIPO also explains that, in principle, the patent owner has the exclusive right to prevent or stop others from commercially exploiting the patented invention. Patent protection means that the invention cannot be…
