General Assembly Resolution #388 Foreign Patent Act (Category: Free Trade; Strength: Mild) shall be struck out and rendered null and void.
Recognizing that many World Assembly member states use patents to encourage scientific and technological innovation,
Affirming that the complete public disclosure of an invention in exchange for temporary exclusive rights to the invention constitutes a fair trade between inventors and the public,
Commending GAR #388, “Foreign Patent Act”, for contributing to the harmonization of patent law throughout the World Assembly by establishing an international system for patent recognition,
Concerned, however, that the target resolution permits World Assembly member states to completely opt-out of the system it establishes,
Noting that research and development of new inventions requires a great investment of time, labour, and capital,
Emphasizing that if member states are free to refuse to recognize patents, they are also free to mass produce and sell inventions at a fraction of the cost required to develop them and so will inevitably undercut the original inventor on global markets,
Observing that this leaves inventors with substantial risks and few rewards, thus significantly reducing the incentive of inventors to innovate, as well as the incentive of investors to fund the research and development necessary for innovation, throughout the World Assembly,
Alarmed that the resolution also lacks any mechanism for inventors to appeal decisions of the authority responsible for international patent recognition,
Hoping that replacement legislation shall soon be passed,
The General Assembly,
Repeals GAR #388, “Foreign Patent Act”.