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How to protect NFT intellectual property rights explored at Australian Blockchain Week
With explosive growth in the past 12 months, the non-fungible token industry is getting too big to ignore IP licenses, experts say. Cardano(ADA) Price Above $1, Is it an Indication of a Recovery or Yet Another Fake-out?
The post Cardano(ADA) Price Above $1, Is it an Indication of a Recovery or Yet Another Fake-out? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide
Cardano price is attempting to break the huge descending trend and is on the verge to form a strong bullish green candle ever since it reached the highs in September 2021. Interestingly the buying volume has increased drastically which is attempting the price to get settled above the immediate resistance levels. However, no uptrend can …
Federal Appeals Court Affirms the Role of ‘Balance’ in Scheme for Extending Term of Pharmaceutical Patents
On 18 March 2022, the Full Court of the Federal Court of Australia issued decisions relating to term extensions of patents covering pharmaceutical products: Commissioner of Patents v Ono Pharmaceutical Co. Ltd [2022] FCAFC 39 (‘Ono’); and Merck Sharp & Dohme Corp. v Sandoz Pty Ltd [2022] FCAFC 40 (‘MSD’). The two decisions have (at least) three things in common. First, both were decided unanimously by a panel comprising Chief Justice Alsop and Justices Yates and Burley. Second, both found against the patentee, with the court reversing the primary judge’s decision in Ono granting an extension of term, and confirming the primary judge’s decision in MSD nullifying a previously granted extension of term. And, third, both referred to the principle set out in the objects clause (section 2A) of the Patents Act 1990 that ‘the patent system balances over time the interests of producers, owners and users of technology and the public’ (emphasis added).
The scheme for extending the term of pharmaceutical patents inherently involves a balancing act. Its primary purpose is to ensure that patentees are not excessively disadvantaged by delays in securing regulatory approval to market patented products. For example, if a drug is not approved for use until 10 years or more after a patent application is filed, the patentee may have less than half of the standard 20 year patent term remaining to compensate for its investment in discovery and development before becoming exposed to generic competition. On the other hand, an extended period without competition necessarily exposes the wider public to higher costs of medical treatment. In an effort to balance these competing interests, the relatively complex provisions of the Patents Act aim to ensure that a ‘typical’ pharmaceutical patentee benefits from up to 15 years of exclusivity, by granting extensions of the patent term of up to five years, i.e. to a maximum of 25 years from filing. (A 2013 review of pharmaceuticals patents – which the government initially declined to release – found that 53% of such patents have an effective life of 15 years, while 89% have an effective life of over 10 years.)
The primary provisions of the Patents Act governing extensions of patent term are:
- section 70, which sets out the conditions that must be satisfied before a patentee can apply for an extension of the term of its patent;
- section 71, which sets time limits for filing of applications for extensions of term; and
- section 77, which specifies how the duration of an extension of term is to be calculated.
In each of Ono and MSD, the patentee sought to obtain an advantage, or avoid disadvantage, by arguing for beneficial interpretations of the extension of term provisions. In each case they failed. And in both cases the Full Court upheld the principle that the purpose of the extension of term scheme is to balance the competing interests of the patentee of a pharmaceutical substance against the public interest in the unrestricted use of the pharmaceutical invention after expiry of the patent. In Ono, in particular, the Full Court rejected the proposition that sections 70, 71, and 77 should be construed to achieve a commercial outcome for the patentee. In MSD the Full Court again invoked the principle of ‘balance’ in declining to permit an extension of term based on a later Australian marketing approval, in circumstances where the patentee had already obtained the benefit of an ‘export only’ approval of a substance falling within its patent claims with an effective life of over 15 years.
The relevance of the Full Court’s focus on balancing of interests, and its references to the objects clause, could extend beyond these cases. The three judges here are all among the five who recently heard the appeal in the Thaler ‘AI inventor’ case, in which the competing interests of developers and owners of ‘invention machines’, and of the broader public (who might not see the same benefit in granting patent monopolies on automatically-generated inventions), are potentially at stake. It will be interesting to see whether they adopt a similar approach to weighing up the balance of interests in that case, also.
Read more »MHIET Launches MGS-R Series, New Standby Generator Set
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The MGS-R Series is the first upgrade to MHIET's diesel generator set lineup in over two decades following the MGS-B models introduced in the year 2000. The new series features 21 models that cover all rating categories(2). Some of the models were released in November 2021 and remaining models will be introduced in sequence by the end of 2022. The new series provides outputs ranging from 500 to 2,750 kVA for 50Hz, and 460 to 2,000 kVA for 60Hz for standby offerings. With the recent modifications to turbocharger specifications and improvement on fuel system and exhaust system to the engine, all models in the series boasts 10-second start. Newly adopting MHIET-made compact and high-power 12-cylinder engine on the 1,500kVA rating for 50Hz, the best-seller in the offerings, has made its installation area the smallest-in-class. Furthermore, overhaul interval has been extended to more than double by examining how generator sets are operated at sites.
All models in the MGS-R series are compliant with the two leading industry standards: the ISO's Class G3, the organization's highest standard for generator sets; and the standards of National Fire Protection Association of the United States. They also satisfy Tier 3 and Tier 4 standards by the Uptime Institute, a private sector organization that certifies the reliability and overall performance of data centers. These days more and more data center operators require high levels of quality compliance with various industry standards.
"At a time when reliable power is increasingly critical for commercial facilities such as data centers, we are pleased to announce that we have launched this new MGS-R Series.," said Ichiro Ichihashi, Senior General Manager, Engine & Energy Division of MHIET. "Many generator sets manufacturers purchase engines from suppliers, but we manufacture engines ourselves as well as generator sets. I believe this is our strength and our value. I am confident of the reliability and dependability of our generator sets that have sold 12,000 units worldwide." The MGS Series will be assembled at Mitsubishi Heavy Industries Engine System Asia Pte. Ltd. (MHIES-A), MHIET-owned subsidiary in Singapore. MHIET will continue expanding our MGS Series to meet the growing energy needs of customers in various industries including mission-critical applications.
(1) Learn more on Youtube:
https://youtu.be/0IbPH_peSfM
(2) "Ratings" refers to the operating conditions of generator sets as defined by the International Organization for Standardization (ISO). There are different ratings such as standby and prime depending on the required operation including operating time and size of the load to accept. A generator set's output can vary according to its rating.
About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, logistics & infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.
Copyright 2022 JCN Newswire. All rights reserved. www.jcnnewswire.comMitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET), a part of the Mitsubishi Heavy Industries (MHI) Group, launched a new MGS-R Series of diesel generator sets.
A Couple of Buried Altcoins Made Huge Moves Now, Is This the Resurgence of 2017 Bull Run!
The post A Couple of Buried Altcoins Made Huge Moves Now, Is This the Resurgence of 2017 Bull Run! appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide
The crypto space is filled with huge uncertain moves at the moment as most of the assets are swinging within a pre-determined range. While Bitcoin’s price is struggling hard to seal up the levels above $45,000, many altcoins have already ignited a larger move. Interestingly, more than the popular altcoins or specifically the newer coins, …
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