First Principles of Business Law

4. Property rights in intangible things

4.4.1. Patents

By experimenting with well some known chemicals, and with a little luck, Albert has formulated a new kind of adhesive that is quick setting and so strong that it allows the hinges on cupboard doors to be glued rather than screwed in place. Albert wants to make sure no-one else can copy or use his new glue without paying him to do so. He wants to know if his formula is an invention which can be protected by a patent.

Which of the following statements is correct?

(a) Because it is made from chemicals that are already well known, Albert's formula is not an original invention that can be protected by a patent.

(b) A formula for a new product, even if made from well known chemicals, is an invention that can be protected by patent.