The U.S. Trade Representative recently released its “Special 301” annual report to Congress which outlined the Administration’s global intellectual property agenda. At PhRMA we believe that maintaining global incentives for research and development of new medicines is essential for the continued development of treatments used around the world to help improve the health and lives of patients. The importance of these incentives is underscored by the current threat of a pandemic health emergency and the need for new, innovative antiviral products.

This worldwide respect for intellectual property is the engine that will enable patients around the globe to receive the benefits of future discoveries. This respect is particularly important for American patients, who otherwise end up supporting a disproportionate share of the burden for the development of new medicines. Patients around the world are waiting for the more than 2,900 medicines currently in development by PhRMA member companies.

Protecting American intellectual property also is important to the U.S. economy. For these reasons, PhRMA and its members place a high priority on addressing the harm caused by inadequate IP protection and by the market access barriers put in place by some U.S. trading partners. We appreciate efforts underway at all levels by USTR, the Departments of State and Commerce, and the effective advocacy of U.S. overseas missions to promote compliance with international obligations.

We applaud the report’s discussion on counterfeiting problems that present public health concerns in the U.S. and elsewhere in the world. Our member companies are actively engaged in seeking solutions to these problems with the U.S. Government, governments mentioned in this submission, allied industry associations, the World Health Organization and concerned health professionals and patient groups.

PhRMA and its members are committed to helping address the public health risks and other public interests that are compromised by those who traffic in counterfeit medicines.

We are concerned that Brazil’s treatment in the report does not adequately reflect the actual barriers to effective intellectual property protection in place in that country or the international pronouncements made by the Government on IP-related matters.

We share the Government’s hope that recent statements of intent by officials in Thailand to make IPR protection and enforcement a higher priority will yield results. We are concerned, however, that the lack of progress on IPR issues in Thailand was not given sufficient weight in the final determination.

At the same time, we are encouraged that the Administration has taken steps to highlight the deficiencies of China, Russia, India, Indonesia, Pakistan and some other countries. China, for instance, continues to circumvent its obligations to protect safety and efficacy data generated by innovative companies and India is no closer to implementing such fundamental protection. PhRMA appreciates USTR’s recognition of the severity of the IP concerns for pharmaceutical companies in these countries.

In addition, we applaud the Government’s recognition of progress made by Korea in IPR protection, which resulted in removing Korea from all lists in the present report. We look forward to full implementation by Korea of additional IPR protections in the KORUS FTA upon ratification.

The ‘Special 301‘ process continues to be effective in gaining high-level attention from our trading partners – attention that is needed to redress intellectual property violations and market access concerns. PhRMA and its members look forward to working with the staff of the USTR as they continue to represent the interests of American consumers, patients, workers and industry by addressing unfair trade practices in key countries around the world.



By: Chris Singer

About the Author:

The philosophy behind the grant of Patent is “Suffer less evil for more good” and the purpose is to stimulate the investment in industrial innovation. When somebody invents a new product or process, which is capable of industrial application and discloses it to the Public through patent office, the Government may grant a Patent i.e. the right to exclude his competitors from the commercial exploitation of the invention within the country so that the expenses involved in the R & D could be recovered. By virtue of the grant, Patentee gets the exclusive right to prevent the third parties (not having his consent) from the act of making, using, offering for sale, selling or importing the patented product or process within the territory of grant. Therefore Patent confers the right to preclude the competitors and not essentially to the commercial exploitation by himself. This makes patent a kind of monopoly granted by the Government (Sovereign)



ORIGIN OF THE PATENT SYSTEM

Although there is evidence suggesting that something like patents was used among some ancient Greek cities, the origin of patents for invention is obscure. It is found that the first recorded ‘patent’ for an industrial invention was granted in 1421 in Florence (A city in central Italy) to an architect and Engineer Filippo Brunellesche (A three-year monopoly on the manufacture of a barge with hoisting gear to move marble). However Britain owns the longest continuous patent tradition, which finds its root in the 15th century when the English Crown started making specific grants of privilege termed “Letters Patent” to manufacturers and traders providing them with a “monopoly” to produce particular goods or provide particular services.

Patent (‘patere’ in Latin) means ‘to be open’ i.e. open to public inspection. So “Letters patent” were the open letters addressed by the sovereign “to all people to whom these presents shall come” marked with the King’s Great Seal granting a right, monopoly, title, or status to someone or some entity such as a corporation. (This grant is the opposite of letters close which are personal in nature and sealed so that only the recipient can read the contents of the letter). The earliest known English patent for invention was granted by Henry VI to Flemish-born John of Utynam in 1449. The patent gave John a 20-year monopoly for a method of making stained glass, required for the windows of Eton College that had not been previously known in England.

This was the start of a long tradition by the English crown of the granting of “letters patent” which granted “monopolies” to favoured persons who helped the king in war or otherwise. This power intended to raise money for the crown (and the Grantee also) , was widely abused as the crown granted patent in respect of all sorts of goods (salt, for example), and court began to limit the circumstances in which they could be granted. After public outcry, King ‘James I’ was forced to revoke all the existing monopolies and declare that they were only to be used for ‘projects of new invention’. Parliament eventually restricted the crown’s power explicitly through the ‘Statute of Monopolies 1623’ under King ‘James I ‘ so that the King could only issue letters patents to the inventors or introducers of original inventions for a fixed number of years. Section 6 of the Statute refers to “manner[s] of new manufacture . . . [by] inventors”, and this section remains the foundation for patent law in England and Australia . In the reign of Queen Anne the rules were changed again so that a written description of the article was given for the grant. The Statute of Monopolies was later developed to produce modern patent law.

IS IT REALLY A MONOPOLY ?

The patents are some times referred to as monopolies but that is not always true. In economics a monopoly (Greek monos (one) + polein (to sell)) is defined as a market situation where there is only one provider of a product or service. In other words monopoly is “the exclusive control of a commodity or service in a given market’ held by force or by virtue of grant from the sovereign. It concentrates income to the holder of the monopoly at the expense of those who do not hold that monopoly and hence interferes with freedom of trade.

Patent cannot be viewed as a monopoly as it is not granted to something, which is already in public domain. So nothing is taken out of the Public. People can compete a patented product with advanced technology even while a patent is in force but they need to bring out the products based on different ideas. Thus a patent behaves like a grant of real property right, in that the owner of a house may exclude others from using it, but he certainly does not have a monopoly over the real estate market. Also when we cannot establish the time at which monopoly will end and competition will begin, we limit the time for which a patent is granted. That is, we are setting the time at which the inventor will no longer be able to demand a price in excess of the zero marginal cost of his intellectual property. Therefore Patent gives the ability to preclude competition and not the monopoly in the abstract.

NECESSITY OF A PATENT SYSTEM

In order to invent something new and to develop it to a stage that is commercially viable huge investments in terms of money and labour are necessary in addition to the intellectual activity. But when the invention is revealed it comes to public domain, the inventor has to meet with competition from his rival manufactures and therefore the return of investment is not guarantied. That is why many people try to work the invention secretly but the risk of his invention being subjected to ‘reverse engineering’ persists. There comes the importance of patent system that can avert an impasse to technical advancement, which might occur otherwise. Therefore Patent system provides a social benefit, since we obtain some inventions that otherwise would not have been made. It bestows monetary reward for revealing technological innovation along with accolades for the inventor (Patent is an award for the inventor and a reward for the investor).

Grant of patent for inventions attracts investment because the commercial exploitation of the invention is possible to its fullest extent during the term of patent. Another major advantage of the patent system is that it promotes ‘invent around’ concept. Patent is granted only when the invention and its operation or use and the method by which it is to be performed are fully disclosed to the patent office. When the patentee launches the product (in which the invention is incorporated) in the market, his rival manufactures may lose the market if the product is technically advanced and cheap as compared to the existing one. The patentee can prevent others from manufacturing the same product by legal means.  But the competitors have the option to ‘invent around’ that essential product i.e. they can conduct further research and development around that product and can bring out a better invention which may result in cheaper and better product. This is possible because the invention is already revealed through the patent office in a form understandable to a ‘person skilled in the art (technology)’ and the patentee cannot prevent the further research on the product. It paves the way for a healthy competition among the manufacturers resulting in day-to-day improvement of technology. Ultimately it enhances the economic growth of the country and life standard of the people.

DANGER IN THE PATENT SYSTEM

Patent system jeopardizes the developing countries and under developed countries whose technology is far behind that of developed countries. As we know, patent is the right to exclude the competitors from making or importing the patented product and not exactly the exclusive right for the commercial exploitation within the country. Moreover the number of patent applications made by the foreigners in these countries amount to more than three fourth of the total. Nationals of the developed countries may take out a patent in a developing country purely to protect the market from rival manufacturers and work the patent simply by importing the products to the developing country. It affects the domestic industry of such countries very badly because the advanced technology products imported by the patentee may be cheaper and better in quality to that of the domestic one. These domestic products cannot survive in such a market situation where consumers prefer to buy the advanced technology products, which are cheaper. As most of the third world countries are far behind the first world countries by more than a quarter century in technology competency, this situation may result in the total collapse of the domestic industry and hence unemployment when the patent holders enjoy the monopoly in these countries making it a mere market for dumping their products manufactured on large scale. That is why it becomes necessary that ‘the invention should be worked within the territory of the country on a commercial scale and to the fullest extent that is reasonably practicable’. In order to prevent the abuse of patent as a monopoly for the importation of the patented article ‘patent law’ of the said countries should incorporate the provisions for ‘compulsory license’ and revocation of the patent. It is also very essential that such countries should take measures for the advancement of Research & Development and patent awareness within the country.



By: R.S. Praveen Raj

About the Author:

Scenario: My father has been through financial problems throughout his life. 10 years ago, he and my mom have had negative credit scores due to past uses with the IRS and he even had his wages garnished. However he could scrape by and later on I helped him out by buying a home with a mortgage thereby having my name both on mortgage and title. I knew I would end up selling the property if they didn’t make payments on the mortgage as my security and I could always deduct the mortgage interest on my returns. He promised to pay off the mortgage within 2 years and in return I would give away the property to him right after that. But it’s over 6 years and the loan isn’t paid off. I have had to take out cash from my savings to keep the payments on time. The property has gone up in value over the years but my relationship with my dad has worsened. He feels I’m into stealing his money which isn’t true. My dad wants me to sign over the property to him. And he’s also looking for lenders to refinance the loan as the quitclaim would leave the mortgage payoff responsibility entirely on my shoulders. I’d like to make sure that my name is removed from the mortgage debt if at all I transfer the property and would like to know about the tax implications. Is such a transfer possible using a quitclaim? I don’t want to sell and out him in a precarious situation because he can’t make payments as he’s on social security only and in order to save a bit more, he’s looking for a refinance.

Solution:

If you’re looking to take your name off the title, you need to execute a quitclaim deed approved by your state and sign it over to your father. But, prior to recording the deed, get it signed by a notary public.

However, while you transfer the property using a quitclaim deed, your responsibility towards the mortgage doesn’t end as the deed does not free you from the mortgage payment liability. So, here’s why your father needs to do a refinance. While he refinances the existing loan with a new one in his name alone, yours is taken away from the loan doc and therefore neither are you on the title nor on the loan.

As far as taking your name off the loan is concerned, you can also request your father to talk to the lender and look into the chances of a Novation – a process by which you can simply transfer the loan to your father. But given the fact that your father has had credit and finance problems, depending upon how long they have been affecting his credit and finances, he may or may not be allowed a Novation.

However, refinance can still be a possibility if he’s looking for a reverse mortgage. But in order to qualify, he needs to be 62 years and above. Also, if your father has good amount of equity in the home, he’ll be able to get a higher loan amount with which he can pay off the current mortgage. Moreover, the property should be his primary residence and as such he needs to have his name on the title. And that’s possible only when you sign over the quitclaim deed.

The best part of taking out a reverse mortgage is, one does not have to pay back on a monthly basis. The reverse mortgage needs to be paid back only when the last surviving borrower dies or sells property or moves out.

Now, considering the tax implications of doing a quitclaim, well, if you sign over the deed, you’re the grantor and hence it’s your liability to pay taxes. If you quitclaim property without taking any money in return from your father, the transfer is regarded as a gift and the value of the gift will be the value of the property at the time of the transfer (here the value has appreciated). Now, if the value of the gift does not exceed the annual exclusion limit of $12000 (for 2008) per year per person then the donor (here it’s you) need not pay federal tax on the gift.

However, if the value of the gift exceeds $12000 and you have already given up $1,000,000 in gifts in total till now in your life, you’ll have to pay the federal gift tax. Otherwise you need not have any tax liability as such upon transfer of property. The total gift amount of $1,000,000 is the lifetime exemption for paying federal gift tax.

While the value of the gift at the time of transfer helps you decide whether to pay gift tax, it enables the recipient, your father, to determine if a deduction is available when he sells the property at a loss.



By: Samantha Taylor

About the Author:

Long term cyprus baggie asked:




The demand for Cyprus long term properties on the east coast of Cyprus locations of Larnaca, Oroklini, Pervolia, and Protaras , Kapparis,Paralimni, are increasing.The Cyprus propertry market is booming regards long term cyprus rental property. Furnished and unfurnished apartments and villas are most popular.

The Furnished apartments in areas like Paralimni and Kapparis, which are semi residential areas, are averaging 550 euros per month for a long term let of 12 months.Tenants are vetted for financial status, and with security bonds taken to ensure the properties are looked after, contracts are signed, and long term properties are being succesfully rented, enabling a financial return, on Cyprus property purchased by second home buyers.

Cyprus long term property rentals are available furnished and unfurnished, and a large pecentage of rentals are of the furnished option. The unfurnished cyprus properties attract lowever rents. The Cyprus winter let properties are not so popular, with many bars restaurants, in the ayia napa and Protaras areas closing from late October to April time. Lettings Cyprus is our company who attracts many clients looking for Cyprus long term villas and apartments, which are ideal for the relocating from the uk, to Cyprus for a new life. Furniture packs are available for owners of Cyprus property, who have no time to travel to Cyprus to arrange the furnishing of the properties thet have purchased. Our advise on furnished cyprus rental property, varies depending on the owners choice regards long term or short term stays.

Our long term lettings services and Cyprus property marketing services are available to owners and investors, interested in a steady rental income. Our full property management services includes monthly rental reports, and inspection visits, along with rent collection, and utility bill payment coverage. Furnishing rental property that previously sat empty, can increase your chances of finding a new tenant, and with our property furniture services available for a budget to suit each owner, its woth considering, if the property you have is un occupied.

Contact us for free advice on all rental aspects for Cyprus long term and holiday rental properties here on the east coast of Cyprus.

E-Renter USA Ltd is a Consumer Reporting Agency, serving property managers, landlords and real estate investors for over four years. E-Renter offers Tenant Screening, Rental Credit Check, and Background Check services needed to meet the challenges of today’s Real estate market or any other business sector. Our full-service, hands-on approach to tenant and employee screening draws on the expertise of our staff of dedicated professionals. A strong commitment to excellence has helped E-Renter become a leader in the field, and has won praise from our diverse group of clients. In fact, E-Renter was awarded the Certificate of Excellence by the Better Business Bureau (BBB) as the “2006 Winner of the Western Washington Better Business Bureau innovative Business Practices Award”.

Our nationwide services allow our clients to relax with the knowledge that their rental property is in safe hands, is well-managed and their return is maximized. Similarly, our pre-employment background checks are as effective with large offices as they are with smaller businesses of all sizes. Wherever you are in the United States, E-Renter services are targeted and result-oriented. We identify prospective candidates for your company or property and approach them directly. All our investigative activities are geared towards identifying the best possible tenant for you or the most capable employee to take your business from one success to the other. The entire process is cost-effective!

E-Renter provides extensive and significant coverage as far as evaluating your prospective residential tenants or employees are concerned. Specifically, we use our search records compiled from 38 states to return felonies, misdemeanors, traffic violations, sex offenders and incarcerations, bankruptcies, judgments, liens, credit limits, payment patterns, reported employment and evictions records search of all 50 states and more! We conduct the broadest possible searches to provide you the most comprehensive details about your prospective tenants or employees, at whatever level of confidentiality you require.

The Nationwide tenant screening services at E–Renter include Name and Address Identity, Social Security Number Identification, Previous Name and Address, Birth Date, Employment History, Public Records and Civil Judgments, Consumer Trade Report, Payment and Loan History, Previous and Current Credit Information. In addition, free customer support 7 days a week is a cherry on the cake!

Property managers can use the E-Renter online access to order and review reports. This service demands no monthly fees, no minimum billing amounts, and no annual fees. You only pay for the reports you order! The following reports can be yours in a matter of seconds-

• Consumer Credit Report

• Criminal Records Search

• Eviction History

• ID Verification

• Business Credit Reports

In today’s complex world- wrought with crime and distrust, you need the representation of a professional Consumer Reporting Agency that places your interests first. We would like the opportunity to put our experience to work for you. E-Renter can help you! Please visit www.E-Renter.com for more information.



By: E-renter

About the Author: