<p begin="00:00:00.00" end="00:00:09.24" style="1">[MUSIC PLAYING] </p>
<p begin="00:00:09.24" end="00:00:11.91" style="1">ELIZABETH DOUGHERTY: The ability to receive a US patent provides</p>
<p begin="00:00:11.91" end="00:00:14.38" style="1">the incentive for inventors to choose</p>
<p begin="00:00:14.38" end="00:00:17.40" style="1">to disclose their invention, knowing that they can obtain</p>
<p begin="00:00:17.40" end="00:00:20.57" style="1">protection to then take it to, start, build,</p>
<p begin="00:00:20.57" end="00:00:22.42" style="1">and grow a business. </p>
<p begin="00:00:22.42" end="00:00:24.89" style="1">Patents, in fact, create and develop</p>
<p begin="00:00:24.89" end="00:00:28.64" style="1">entire industries, which produce jobs, a strong economy,</p>
<p begin="00:00:28.64" end="00:00:31.73" style="1">and make our lives better, healthier, or more fun.</p>
<p begin="00:00:31.73" end="00:00:34.30" style="1"> </p>
<p begin="00:00:34.30" end="00:00:36.34" style="1">So whether one's an entrepreneur hoping</p>
<p begin="00:00:36.34" end="00:00:39.20" style="1">to start a small business in a corner shop,</p>
<p begin="00:00:39.20" end="00:00:42.18" style="1">or hoping to in fact create something much, much larger,</p>
<p begin="00:00:42.18" end="00:00:43.48" style="1">patents are the cornerstone. </p>
<p begin="00:00:43.48" end="00:00:46.22" style="1"> </p>
<p begin="00:00:46.22" end="00:00:48.39" style="1">REBECCA HYNDMAN: My name is Rebecca Hyndman.</p>
<p begin="00:00:48.39" end="00:00:50.84" style="1">I'm 19 years old, and I'm the inventor</p>
<p begin="00:00:50.84" end="00:00:54.40" style="1">of US Patent 7,726,080. </p>
<p begin="00:00:54.40" end="00:00:57.44" style="1">It's for an under-floor storage system.</p>
<p begin="00:00:57.44" end="00:00:59.50" style="1">One of the reasons I wanted to get a patent</p>
<p begin="00:00:59.50" end="00:01:01.64" style="1">was to protect my rights to my invention.</p>
<p begin="00:01:01.64" end="00:01:06.24" style="1"> </p>
<p begin="00:01:06.24" end="00:01:07.99" style="1">TERESA STANEK REA: The granting of patents</p>
<p begin="00:01:07.99" end="00:01:11.79" style="1">encourages innovation by providing a legal basis</p>
<p begin="00:01:11.79" end="00:01:15.52" style="1">to allow inventors to benefit from their intellectual</p>
<p begin="00:01:15.52" end="00:01:16.02" style="1">property. </p>
<p begin="00:01:16.02" end="00:01:20.81" style="1"> </p>
<p begin="00:01:20.81" end="00:01:22.57" style="1">CHARLES KIM: It offers protection,</p>
<p begin="00:01:22.57" end="00:01:25.57" style="1">so that other people cannot use your invention without</p>
<p begin="00:01:25.57" end="00:01:26.71" style="1">your permission. </p>
<p begin="00:01:26.71" end="00:01:28.88" style="1">GARY NICKOL: It's actually like a piece of property.</p>
<p begin="00:01:28.88" end="00:01:31.78" style="1">It's like a deed that you can buy and sell,</p>
<p begin="00:01:31.78" end="00:01:34.12" style="1">except it has an expiration date.</p>
<p begin="00:01:34.12" end="00:01:37.06" style="1"> </p>
<p begin="00:01:37.06" end="00:01:38.48" style="1">ELIZABETH DOUGHERTY: Our inventors</p>
<p begin="00:01:38.48" end="00:01:40.38" style="1">come from many walks of life and just</p>
<p begin="00:01:40.38" end="00:01:42.86" style="1">as many reasons for getting a patent.</p>
<p begin="00:01:42.86" end="00:01:44.82" style="1">CHERYL TYLER: A lot of times, the patent holder</p>
<p begin="00:01:44.82" end="00:01:47.21" style="1">just enjoys the satisfaction of knowing</p>
<p begin="00:01:47.21" end="00:01:49.13" style="1">that they have a patent with their name on it.</p>
<p begin="00:01:49.13" end="00:01:51.13" style="1">WAEL FAHMY: They have to meet three requirements</p>
<p begin="00:01:51.13" end="00:01:52.19" style="1">to get the patent. </p>
<p begin="00:01:52.19" end="00:01:56.51" style="1">It has to be new or novel, it has to be useful to the public,</p>
<p begin="00:01:56.51" end="00:01:58.50" style="1">and it has to be non-obvious. </p>
<p begin="00:01:58.50" end="00:02:01.04" style="1">CHERYL TYLER: The examiner will take that patent application.</p>
<p begin="00:02:01.04" end="00:02:02.78" style="1">They read through the disclosure--</p>
<p begin="00:02:02.78" end="00:02:05.26" style="1">he's looking at the drawings and also the claims--</p>
<p begin="00:02:05.26" end="00:02:07.95" style="1">what the applicant is claiming the invention to be.</p>
<p begin="00:02:07.95" end="00:02:09.41" style="1">VERONICA EWALD: We will search what</p>
<p begin="00:02:09.41" end="00:02:13.17" style="1">we call prior art, which can be magazine articles, journal</p>
<p begin="00:02:13.17" end="00:02:17.94" style="1">articles, other patents, or patent published applications.</p>
<p begin="00:02:17.94" end="00:02:19.85" style="1">GARY NICKOL: There could be a new technology</p>
<p begin="00:02:19.85" end="00:02:21.44" style="1">that's never seen before. </p>
<p begin="00:02:21.44" end="00:02:25.27" style="1">So each application is examined very carefully</p>
<p begin="00:02:25.27" end="00:02:26.27" style="1">on its own merits. </p>
<p begin="00:02:26.27" end="00:02:28.35" style="1">ELIZABETH DOUGHERTY: Now, once that patent exists,</p>
<p begin="00:02:28.35" end="00:02:30.35" style="1">it spurs innovation further. </p>
<p begin="00:02:30.35" end="00:02:32.72" style="1">By keeping it for an exclusive period of time,</p>
<p begin="00:02:32.72" end="00:02:36.24" style="1">it also encourages the inventor to not sit on their invention,</p>
<p begin="00:02:36.24" end="00:02:38.41" style="1">but in fact to move that technology forward.</p>
<p begin="00:02:38.41" end="00:02:41.26" style="1"> </p>
<p begin="00:02:41.26" end="00:02:44.17" style="1">CHERYL TYLER: The patent becomes part of the public domain--</p>
<p begin="00:02:44.17" end="00:02:45.93" style="1">WAEL FAHMY: --which means it's accessible to everyone.</p>
<p begin="00:02:45.93" end="00:02:47.47" style="1">And when it's accessible to everyone,</p>
<p begin="00:02:47.47" end="00:02:50.03" style="1">that means everyone can access it, can look at it,</p>
<p begin="00:02:50.03" end="00:02:53.05" style="1">can modify it, and again, create the cycle</p>
<p begin="00:02:53.05" end="00:02:55.16" style="1">of something new and useful for the public.</p>
<p begin="00:02:55.16" end="00:02:56.78" style="1">CATHRON BROOKS: It'll create innovation</p>
<p begin="00:02:56.78" end="00:02:59.06" style="1">by having these patents available and the</p>
<p begin="00:02:59.06" end="00:03:00.39" style="1">designs out there in the market. </p>
<p begin="00:03:00.39" end="00:03:02.01" style="1">People will see them and think of something</p>
<p begin="00:03:02.01" end="00:03:03.30" style="1">they want to change about them. </p>
<p begin="00:03:03.30" end="00:03:04.82" style="1">CHERYL TYLER: The ideas keep coming.</p>
<p begin="00:03:04.82" end="00:03:07.12" style="1">And the more that people think of new things</p>
<p begin="00:03:07.12" end="00:03:09.64" style="1">and get them patented, that just tells you</p>
<p begin="00:03:09.64" end="00:03:13.08" style="1">how our society is going to develop.</p>
<p begin="00:03:13.08" end="00:03:15.00" style="1">CHARLES KIM: It's very common to see something</p>
<p begin="00:03:15.00" end="00:03:17.74" style="1">come across my desk and subsequently</p>
<p begin="00:03:17.74" end="00:03:20.94" style="1">to see that feature in a smartphone or in a tablet.</p>
<p begin="00:03:20.94" end="00:03:23.47" style="1"> </p>
<p begin="00:03:23.47" end="00:03:25.05" style="1">TERESA STANEK REA: By our very nature,</p>
<p begin="00:03:25.05" end="00:03:26.76" style="1">human beings are innovators. </p>
<p begin="00:03:26.76" end="00:03:29.40" style="1">By disclosing their invention to the public,</p>
<p begin="00:03:29.40" end="00:03:33.26" style="1">patent owners provide valuable information to society</p>
<p begin="00:03:33.26" end="00:03:37.12" style="1">and inspire the next generation of innovators.</p>
<p begin="00:03:37.12" end="00:03:48.37" style="1"> </p>