Intellectual Property and its Role in the Pharmaceutical Industry

Dec 2022

Intellectual property rights are considered to be an important asset of any corporate unit. It is an indication of the creation of mind and the work that makes one entity different from the other. With better IP or intellectual rights, it would be easy to promote the possible innovations and this would be useful in the pharmaceutical industry. It is among the fastest-growing industries that will not be affected by recession or any other changes. Being one of the prime sources of medical innovation, it is important to consider what role intellectual property plays in the industry.

The right is also considered as the foundation based on which different medicinal innovations are coming out. Without the benefits of IP protection, it would have been impossible for the researchers to practice different innovations and come out with discoveries in this industry and offer better ways of cure for the sick.

Role of IPR in the pharmaceutical industry

The medical innovations that have resulted in the discovery of life-supporting drugs need protection that is offered via Intellectual property rights. The connection between the pharmaceutical item and the consumer depends on trust. This apart, the trademark of the company helps to protect the brand from distinguishing it from others. With the help of the patents, the drug company can market the item while preventing others from selling it under a different brand name. With the help of IPR, it helps identify, commercialize, plan, and protect the inventories of one company. This helps maintain better competition of the medicinal drugs, promoting better growth and development of the brands. As the companies are coming up with the latest development and innovations, IPR proves to be beneficial for the companies. Let us take a glance at some importance of IPR in pharmaceutical industries.

Better protection of medical items

A company should file for a patent application to protect the misuse of any drug or item of medical treatment. It can prevent the chances of reverse engineered, stolen for invention, and the like.

Prevents problems of infringement

With IPR, the companies can take steps against infringement of items. This further helps ensure the safety of the medical inventories across the world.

Therefore, for the proper promotion of medical innovations, the IPR plays a pivotal role in protecting it. Further, it encourages developing new drugs to fight new disease challenges that come up. The innovative ideas are converted to new medications.

Trending Blogs

Intellectual Property Rights in the Era of Counterfeit Goods

The industry of counterfeited products has taken shape due to the desire of customers to get hands-on high quality item at reasonable rates. They have great satisfaction in this and this is where the counterfeited goods are made available in the market. Different world markets are full of counterfeited products ranging from cosmetics, electronics, footwear, […]

Delhi HC’s Ex Parte Order in Coca-Cola Company & Anr vs Glacier Water Industries Ltd.

This is a case of a Delhi High court ex parte proceeding concerning trademark dilution. The plaintiff filed a suit seeking a permanent injunction, damages and to restrain them from passing off their products as that of the plaintiff. The plaintiff also pleaded the court to restrain the defendants from using the mark ‘KINLEY’ and […]

Trademarking surnames

Having difficult surnames may be challenging to explain others and also when you want to register the name as trademark. As per the trademark and merchandise act of 1958, it is stated that a mark can be refused if one choose a personal name or surname. Though, there is no such clear specification in the […]

Alibaba IPR Report Shows Ideal Brand Protection Program

As per sources, e-commerce giant, Alibaba group has successfully gained success using intellectual property rights-protection. The giant has been able to offer quality service due to well integration of the latest technological improvements coupled with partnerships with top-rated brands. Also, external stakeholders assisted the giant in offering quality service to proactively monitor, go through rights-holders […]

PTAB Should Not Disapprove Claims on the Grounds of Indefiniteness in IPR

Federal Circuit has disapproved of arguments of claims that show any reason other than anticipation pertaining to party procedures. Federal Circuit has rejected the challenge shown by Samsung Electronics America, Inc. The company challenged that PTAB can disapprove claims that are considered indefinite in IPR. Samsung has been charged on the grounds of infringing U.S. […]

Lack of Music Publishing Knowledge Robbing Indian Artists of their Rights

In India there has been a lack of knowledge regarding publishing music. It can be said that a large part of publishing an art for is still unexplored. It is not about the common people but the artists and the music companies are oblivious towards it. At the initial stage due to lack of knowledge […]

Breaking News: Toyota Loses Trademark Battle over Prius at Indian Supreme Court

The plaintiff, in this case, is Toyota Jidosha Kabushiki Kaisha and they seek to prevent the defendant, a spare parts supplier by the name M/S Prius Auto Industries Limited, from the usage of the trademarks- “Toyota”, “Innova”, and “Prius”. According to the finding of the court, two of the three trademarks mentioned, namely Toyota and […]

India dropped to 40th position in International Intellectual Property Index

India has fallen to 40th position in the International Intellectual Property Index. This index helps know about the IP climate in the 53 global economies of the present year. This is as per the report US Chamber of Commerce’s Global Innovation Policy Center. As per last year’s report, India has been ranked in the 36th […]

These days, there is an increased use of smartphones, computers and tablets and multimedia has shown its great influence in our lives. In the digital world, there are several works used by us. Have you thought whose work are we using? Well, none of us have tried to find out the owner of the work […]

Voluntary Cancellation of Trademark Registration

Trademark registration is a timely affair for 10 years, and it is registered as per the Trademark Act, 1999. There are certain rules and laws pertaining to trademarking a symbol for a brand. A proprietor can get a symbol, phrase of the word, or equivalent trademarked to be used for the brand. But there are […]