Exploring the Utility of Utility Models to Foster Innovation

A patent right provides the first and foremost form of protection for inventions. Patent regimes exist in almost every country. Despite convergence specially pushed through TRIPS, there are still important differences between these regimes. Lesser forms of patent protection for inventions, namely, utility models or short term or petty patents, constitute one of these fundamental differences. This article examines the pros and cons of these systems and comes up with the argument that such rights are necessary to foster innovation in a capitalist economy. The article further asserts that such utility models may serve to remedy the shortcomings of the patent system, provided that they are enforced within a legal structure conducive to innovation, i.e. complemented with certain restrictions envisaged in the relevant intellectual property legislation and conditioned by effective enforcement of antitrust laws