Patenting intellectual property is important for a number of reasons. Health care products are designed to improve the effectiveness and efficiency of care. Without the patent, the property would most likely never enter into the public market for general use by either health care providers or clients. Products such as the specialized IV pole which also accommodates dependent drains (e.g. urinary drainage bags) (Rebar, 1991) or the premature infant pacifier (Engebretson & Wardell, 1991) are valuable assets to patient care. However, without patents to protect them as property, their value in the commercialization process would be nil. Therefore, the public benefits from this system for three reasons: (1) it encourages the inventor to make the invention; (2) the public is given the opportunity to use the invention; (3) the knowledge of the invention is made available to everyone; and (4) often royalties are returned to the institution for further research and development activities.
|Original language||English (US)|
|Number of pages||3|
|Journal||Reflections / Sigma Theta Tau|
|State||Published - Sep 1 1994|
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