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Alayzia Harris, Dr. Roger D. Blair, Department of Economics, University of Florida, 207 Grinter Hall P.O. Box 115500 Gainesville, FL 32611
This paper aims to showcase the increased expansiveness of Eminent Domain, and how it has impacted the rights of those who hold patents. According to the fifth amendment of the United States’ Constitution, Eminent Domain allows for the government to seize property, for the purpose of using it for public use and ideally further serving in the best interest of the public. However, when exercising this power, the government must provide just compensation to the constituent or owner, who will be most affected by this procedure. Although Eminent Domain specifies the seizing of property, it has since been applied to Intellectual Property matters, especially through compulsory licensing. Patents within the pharmaceutical industry are especially affected by the frame of serving in the best interest of the public through Eminent Domain, at the risk of governmental infringement on patent rights. Historical cases of this phenomenon will be examined in order to track the effect of changes in demand and the value of the patented material within the market. Through this analysis, the findings will unpack the complexities of justly compensating patent owners for the entitlements awarded by owning a patent. It will also expound on the legal implications for future patent right infringement. Keywords: Patent, Eminent Domain, Intellectual Property
Presenter: Alayzia Harris
Institution: University of Florida
Type: Poster
Subject: Economics
Status: Approved
