The word patent originates from the Latin patere, which means “to lay open” (i.e., to make available for public inspection). A patent makes an invention viewable by the public, but also ensures a limited monopoly to the creator. From when a patent is granted, till it expires no one else is allowed to make anything that requires your patent without your express permission.

The Uruguay Round Agreement Act (URAA) was signed by President Clinton on December 8, 1994; which had an impact on a number of intellectual property laws. The part that impacts pharmacy the most is it extending patents to 20 years from the date of filing (prior to this it was 17 years under the Hatch-Waxman Act).

See also

Federal pharmacy law
Drug Price Competition and Patent Term Restoration Act

References

1. United States Patent and Trade Office, TITLE V--INTELLECTUAL PROPERTY, http://www.uspto.gov/web/offices/com/doc/uruguay/uraaact.html
2. Wikipedia, Uruguay Round Agreements Act, http://en.wikipedia.org/wiki/Uruguay_Round_Agreements_Act