PATENT AND TECHNOLOGY TRANSFER AS A TOOL FOR TECHNOLOGICAL DEVELOPMENT IN NIGERIA

Abstract

Patent right is one of the intellectual property rights. A patent is a legal protection and government granted authority that confers its owners with certain, exclusive rights namely to exclude others from using, interfering and dealing with the patented invention or product without a license or permission of the owner. The aim of this study is to explore how the grant of patent rights to owners over their inventions encourages research and development, enabling inventors to recoup their cost and secure returns on investment. Technology transfer (TT) is a collaborative process that allows scientific findings, knowledge and intellectual property to move from inventors like research institutions to public and private users. Salient questions exist and they are: is the extant legal system still enough to meet the increasing requirement of patent protection? How does patent right facilitate technology transfer? What are the challenges and limitations of patent rights in technology transfer? What are the strategies for enhancing technology transfer? The research methodology employed in this research is doctrinal. This method involves reliance on primary and secondary sources of law. The research found that patent right enables the originators/inventors to transfer their inventions/technology to developing regions, fostering local industry’s growth. The researchers recommended inter alia that Nigeria should strengthen her laws with respect to provision and protection of patent right and reduce the high cost of obtaining patent right.