RSM100Y1 Chapter Notes -United States International Trade Commission, Respondeat Superior, Patent Infringement
Document Summary
A patent gives an inventor exclusive rights to an invention for a period of time. Patents take a long time to process, and patent infringement cases can take even longer: many firms turn to the us international trade commission (itc) because it can move these cases along faster then other courts/agencies. The us is known as the world"s most litigious society because of what seems like an unreasonable fondness for filing lawsuits. It is estimated that the average us family pays a hidden litigation tax of 5% each year because the costs of lawsuits force businesses to increase their prices. Lawsuits are as much a canadian concern as they are american because of the high level of business exchange that takes place across our common border. Administrative agencies (i. e. crtc) also perform some limited judicial functions, but are more properly viewed as regulatory branches of government.
