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"Innovation is the central issue of economic prosperity." — Michael Porter, Harvard Business School professor.
In fact, the entire body of patent law is dedicated to encouraging innovation, both domestically and abroad. More specifically, patent law's goal is incentivizing innovation by monetization. Indeed, innovation is not only limited to the invention itself but also how to maximize the monetization of the invention. Enter licensing in the context of patents.
Licensing inventions vis-a-vis the licensing of patents is not a new practice by any means. However, the explosion of innovation in industries such as technology and pharmaceuticals has placed patent licensing at the forefront of economic advancement. You cannot have a meaningful conversation about innovation without mentioning licensing.
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This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
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