Past management of intellectual property rights Essay

Past management of intellectual property rights - Essay Example It has taken centuries and these rights have faced drastic rates of dynamism and were until the 20th century that it became fully operational. The way they were managed therefore ion the past is not the way they are being managed in the current economic times. This paper seeks to assess the way intellectual property rights have been managed in the past. In light of the same, it will highlight the types of intellectual property rights and their management in the past as well as justified improvements that can be done for the future. This will create the difference between the past, present and expected future improvements. Past Management of Intellectual Property Rights Management of intellectual is a term that is holistic and is used to describe the process in which tracking the rights creation, licencing as well as their usage. According to the World international property organization, the treatment of each intellectual property is dependent on the efforts being made to preserve the cultural heritage of the specific nations that the rights are being applied (Elster, 2010, p. 24). Though they may have an international backing as far as application to the market is concerned, there is always the need to establish a unilateral management policy on all so that the basics of their maintenance in the market v are maintained. The flow of ideas is also never restricted to any international boundaries and therefore there is a very consistent view of the fact that there are very complex legal systems internationally to try and harmonize all the intellectual property rights from the different nations to suite the world market. Therefore, the past, management in general was based on the fact that each country had to satisfy its own interests, its requirements, limitations and the legal time in which the intellectual p roperty (IP) is going to be applicably necessary and valid. Patents Nicholas Luchi (2007) makes the traditional link between a patent and its registration with the government. He states that the registration takes more than one year to go through depending on the complexity of its making. A patent therefore is a grant under the issue of the government and bound by the law which allows its holder to exclude any other person or organization from commercial exploitation of the invention made (Lucchi, 2007, p. 18). The initial management is based on the application of the patent within territorial boundaries specific to the place where the invention was made and for a specific period of time. The management period originally according to the World Trade Organization (WTO) is 20 years. This shows that although there are specific regional laws concerning the property rights management, there are also universal laws set by the WTO to manage the patents since the application of these is sup posed to have a universal bearing. Under the current and past management laws, the patents are applicable to new industrially applicable inventions that take the form of machines, processes that are innovative and chemical composition. The management laws state that integration to the public is made through the subsequent conditions of patentability in existence at that moment and in line with the WTO guidelines. For instance, to safeguard the public domain, the applicant must always make application to make disclosure of the invention to the public so that there is mutual benefit and