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Intellectual property and its importance
Intellectual property and its importance
Intellectual property and its importance
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Introduction A patent is a form of intellectual property which grants the patent holder an exclusive right to an invention. A patent grants the patent owner a negative right to prevent others from making, using, distributing or selling a patented product. A patent owner can choose to exercise such rights personally or can transfer his right through succession or through licensing . The patent in a sense grants the holder a monopoly in the market for a fixed period of time. The ultimate goal of the patent system would be to encourage innovation. The system was devised to incentivize inventiveness and maximize progress in science and technology through the free dissemination of knowledge . For an applicant to be granted a patent, the invention would have to meet certain standards of patentability such as novelty, utility, non-obviousness etc., and once such standards are met, the exclusive right will be granted to the inventor or his assignee in exchange for the public disclosure of the invention . The rationale behind this is that the inventors will be able to regain what they spent on the research and development of the product due to the exclusive right and it will also increase innovation due to the information regarding the invention being available in the public domain . In this paper we will largely be looking at the innovation in the pharmaceutical industry and how it is impacted by compulsory licensing. A compulsory license is an authorization granted by the government or national authority for a third party to use, make or sell a patent, without the consent of the patent holder . Section 84 of... ... middle of paper ... ...ave the concept of compulsory licensing active in India. Due to its status of a developing nation big international companies should not get the wrong idea that they can come to India and charge an outrageous price for their products without any objections from the Indian government because they would be keen on bringing these companies to India. In my point of view this decision in the Bayer case is one of the many such decisions, which would follow suit, but just because the first case has proved to be useful for the general public and large it does not mean that compulsory licensing is a fixed concept in India now. Going by the past trends it would not be wrong to say that it would take a few good years for India to regularly practice compulsory licensing and its true effects would also only be known only when a few more licenses are issued.
(7) Hall B. Patents and Patent Policy -. 2007. The 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' of the Morse H. SETTLEMENT OF INTELLECTUAL PROPERTY DISPUTES IN THE PHARMACEUTICAL AND MEDICAL DEVICE INDUSTRIES: ANTITRUST RULES. Allison JR, Lemley MA, Moore KA, Trunkey RD. Valuable patents. Geol.
Many developed and developing countries want to protect their own industries such as India who is still reluctant to give foreign firms greater access to its economy, as shown by the political row over its much delayed decision to open up the supermarket sector to global giants
Way before their time Esther Dyson and Lance Rose both had their own opinions about the future of 'intellectual property' in the digital age. In 1995, two authors noticed this emergence of change. In the Wired article "The Emperor's Clothes Still Fit Just Fine" Lance Rose suggested that the norm of copyright infringement being a criminal act such as stealing a car would prevent this practice from becoming something that would be acceptable in society today. This leads into his argument that we do not need to change the current laws (in 1995) to prevent future copyright infringement. Esther Dyson's Wired article on the other hand titled "Intellectual Value" expresses a completely opposite view of this very same issue of copyright. Her arguments support the claim that copyright infringement would become more prominent in society and cause major revision of how we approach and pass laws toward the handling of intellectual property. Both of these articles were very predictive from the time they were written and have been proved accurate by events through the years.
Pharmaceuticals are arguably one of the most contentious of all goods and services traded in the market. While medicines are as much a necessity as foods and water, they require more technical expertise and official approbation in the manufacture. Above all, they carry a moral weight that most market products do not (The Economist, 2014). This idea of moral can be linked to the recurring debate over whether a good health (which is represented by medicines, in this case) should be considered a basic human right, or just a normal commodity. A large portion of such controversy actually lies in an existence of drug patents: should we promote for longer-lasting patents or should we have their duration shortened?
With prescription drug prices continually on the rise, especially in recent years, many have posed the question of how to control them. In their article “Why Don’t We Enforce Existing Drug Price Controls? The Unrecognized and Unenforced Reasonable Pricing Requirements Imposed upon Patents Deriving in Whole or in Part from Federally Funded Research,” Peter Arno and Michael Davis address and pose a solution to this long standing and hotly debated issue. The piece is an article published in 2001 as part of a student edited journal from Tulane Law University titled “The Tulane Law Review.” Although written in 2001, the problems addressed in this article hold the same, if not more merit than they did when the article
“If you patent a discovery which is unique, say a human gene or even just one particular function of a human gene, then you are actually creating a monopoly, and that's not the purpose of the world of patents” (John Sulston). The articles “Patenting Life” by Michael Crichton, and “Decoding The Use of Gene Patents” written by John E. Calfee talk about the patenting of genes. Crichton and Calfee both discuss the different views on gene patenting. Crichtons position is against gene patents, while Calfee feels gene patents are beneficiary. Furthermore, the authors disagree with their views of gene patents. They have different views about the cost of the gene patent tests, the privacy of a person’s genes, and research of gene patenting.
Although monopolies appear damaging at times, there are arguments that they are an advantage to society. Monopolies in the pharmaceutical industry drive companies to pursue research and development (R&D) efforts to gain new patents. According to a 1992 study, among the 24 US. Industry groups, pharmaceuticals dedicated 16.6% of their amounts to basic research, while all other industries averaged at 5.3% (Sherer 1307). This fact validates the incentive pharmaceutical companies have to get a patent and acquire more power. Pfizer encourages R&D because of the incentives and a want to obtain patents to receive more profit. Pfizer has to promote itself to be successful, creating a good brand image that consumers will trust. If the company can advertise successfully, more consumers will purc...
It is frequently argued that genetic patents are the root cause of innovation in research and development (R&D). Particularly, biotechnology companies assert that patents allow them to conduct innovative research by guaranteeing market control and royalties to the company, which reduces the overall risk of investing time and resources into costly research. Without
In week 10 of spring semester we discussed chapter 11’s Intellectual Property Law. “Property establishes a relationship of legal exclusion between an owner and other people regarding limited resources.” In this chapter, we learn that the Constitution allows Congress “to promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors to the exclusive Right to their respective writings and discoveries.”
Tanielian, M. (April 15, 2013). Comments of the Coalition for Patent Fairness. United States Patent and Trademark Office, 1-22. Retrieved from http://www.uspto.gov/ip/global/patents/comments/753609930-1_cpf_-_letter_to_uspto.pdf
Political factors: In India, there are very tough regulations put in place by the Indian govt. to avoid the monopoly conditions and govt. control remains at the top. This company is generally the state owned company therefore the decision making is very hard for the company and company has to follow the political changes which happen in the India. India has disputes with the Pakistan and China, which is continuously affecting the industry.
Pharmaceutical patents are patents for inventions within the pharmaceutical industry. Patents give exclusive rights for an invention for a product or a process of making a product [1]. There are many aspects to patents in the pharmaceutical industry that are both pros and cons; it just depends on what industry you are in. Pharmaceutical companies take out patents so they can regulate the market and restrict competition from other companies. By obtaining patents pharmaceutical companies also attract investment. In addition to this pharmaceutical companies can also regulate the price of the drug as they will be the only company selling that drug. However these aspects of patents can adversely affect the generics industry. The generics industry cannot make or sell drugs that are patented but once a patent licence expires, both the generics industry and the WHO see increased benefits as drugs become more widely available around the world (i.e. developing countries) at a lower price. Here we will discuss the pros and cons of patents from the point of view of the pharmaceutical industry, generics industry and the WHO.
Patent protection in Malaysia is governed by the Patents Act 1983, and is obtainable by either or filing a direct national application or entering the national phase of a Patent Cooperation Treaty (PCT) application. There are two patent classifications that an applicant can choose upon application, the standard patent or design patent and the utility patent.
India is a nation that is on the move towards becoming one of the leaders in the global economy. While the country still has a long way to go, it is making significant strides towards competition with nations such as the United States and England. Indian leaders have been moving towards "a five-point agenda that includes improving the investment climate; developing a comprehensive WTO strategy; reforming agriculture, food processing, and small-scale industry; eliminating red tape; and instituting better corporate governance" (Cateora & Graham p. 56, 2007). These steps are geared to begin India's transformation from a third world nation into a global economic leader. The current marketing environment in India is in transition, with both similarities and differences in comparison to the marketing environment in the US.
Patents claims focus of the mechanism, principles and components surrounding those ideas. Patents are the strongest of the law to protect the intellectual property. Patent law is based on a very strict liability standard, making a business owner’s strongest option for intellectual property protection. Patents often make use of reverse engineering. Through reverse engineering, they see if patented inventions are in used by another company. Patents have an expiration date; the design patent protect design, shape, configuration and appearance of any invention for 14 years, and utility patents that protect functional makeover and new invention last for 20