Scientists have isolated genes that cause particular diseases and modified genes that alter organisms for particular reasons (for example, to help beneficial plants and animals to survive under harsh conditions). Make an argument as to why businesses that develop modified organisms should be able to preserve their property rights by patenting such organisms. Then, make a counterargument as to why such organisms should not be patentable. Please provide the sources

Answer:

Businesses that develop modified organisms should be able to preserve their property rights by patenting such organisms because:

a) Keep others out of the market – patent allows its owner to exclude others from making, using, selling, offering for sale, importing, or exporting an invention included in the patent’s claims for a definite amount of time.

b) Revenue from licenses or sale – A common way to make money from patents is to license the technology to others. A licensee will pay an up front license fee plus a royalty.

c) Retain the right to practice the invention – Applying for a patent may be the best way to accomplish innovation as this gives the patent holder an incentive to reap all the benefits and hence innovate more.

d) Give your product credibility- patenting gives the business an edge over others as it creates a good image of the product in the minds of the consumers.

However, some of the ill effects include:

a) Costly - there is a bare minimum fees to get a patent granted and to keep it alive.

b) Liability – Another drawback to owning a patent is the lawsuits that may be associated with the patents. A competitor may try to invalidate your patent if the price is right. The patent owner is responsible for enforcing his own patents, so if the owner wants to stop another from infringing the patent he must do so at a cost.