Property Law

The conclusion is done and the recommendations of the problem are then brought forward. The IRAC varies according to the actual problem that is being tacked, in this case property law (Smith, 2003). When examining a particular problem in property law, one must first consider the statute to apply due to the fact that property law is not legislative broad and also the different types of statutes in each state.

Property is anything that is legally owned by an individual, a business or the government. The universal principle is that anyone in possession of property is entitled by law to take a legal action against a third party intruder of one’s property. The law classifies the property into personal, real and intellectual properties. Real property defines the land and everything it houses including vegetation and natural resources. Personal properties are the material objects that belong to an individual, business or government. Intellectual properties are the recognitions and financial benefits that people get from invention or creation of a product.

Real estates are fixed to the land: hence, once the transfer of property takes place, they go hand in hand. This is governed by the principal “Whatever is affixed to the soil becomes part of the soil.” The law, therefore, looks at the degree of fixation of the property, whether the property is for the better use or enjoyment of the actual land or building (Ontario Real Estate Association, 1994). This is because they are a fixture to the property and their exclusion would cause destruction to the property. Therefore they must remain with the property if transferred from one owner to the other. Personal properties, on the other hand, do not have a weighty fixation to the land or building. They are presumed not to be a fixture and carry their own weight separately from the land or building meaning that they can be easily removed without causing damage to the land or building (Christie, Manson, & Woods Ltd, 2006).

Intellectual properties share some of the characteristics of real and private property. It is a product that can be put on sale, licensed out, exchanged or given away. The owners of intellectual property are granted exclusive rights which protect their creations. Intellectual properties are intangible items such as literary works, artistic works, discoveries, musical works, symbols or designs. Common examples are patent, copyrights, trademarks and industrial design. The rights enable the initial owners of the intellectual property to enjoy profits from the property they created as an incentive. If the intellectual property is desirable, then the owners must get incentives in order to create more inventions. Illegal use of IP results to breach of civil laws; thus intellectual property users must be authorized by the patent holder.

IP Case: The Association for Molecular Pathology (AMP) v. Myriad Genetics or at buy capstone project online

In this case, the Supreme Court addressed an issue of the patentability of human genes. This is a concept of high importance in modern biotechnology industry. In this case, Myriad Genetics was concerned in the ownership of various patents which included claims to specific isolations of DNA and complementary DNA vital for diagnostic of cancer. The AMP sought to invalidate the patents by filing a declaratory judgment action emphasizing that the patents protected the products’ nature and, hence, were not valid.

In November 2012, the case was heard in New York; the court held that the two components were ineligible for patent. However, on appealing against the ruling, the federal circuit’s Court of Appeal overturned the previous ruling favoring Myriads Genetics that both DNA and cDNA in isolated form were eligible to be patented in June 2013. The court clarified that only the DNA in its natural form did not qualify for patent while in detached form, the product is patentable because it represents a biotechnological discovery (Brougher, 2014).