Pharmaceutical Chemistry

Drug Patents and intellectual rights

Intellectual property rights (IPR) have been defined as Discovery, inventions, and creative expressions based on which there is a public willingness to attach the status of the property. IPR provides certain exclusive rights to the inventors or creators of that property, in order to enable them to earn commercial benefits from their creative efforts or reputation. There are several types of intellectual property protection like patent, copyright, trademark, etc. A patent is recognition for an invention, which satisfies the criteria of global novelty, non-obviousness, and industrial application. IPR is a prerequisite for better identification, planning, commercialization, rendering, and thereby protection of invention or creativity. Each industry should evolve its own IPR policies, management style, strategies, and so on depending on its area of specialty. The pharmaceutical industry currently has an evolving IPR strategy requiring a better focus and approach in the coming era. Usually, the patent in the Drug market is for 20 years, after that generic drug can be developed and made available to the patient in fewer prices

Keywords: Drug, intellectual property, license, patent, pharmaceutical

Subtracks

1. Types of Intellectual Properties and their Description
2. Role of Undisclosed Information in Intellectual Property
3. Rationale of Patent
4. Rationale of License
5. The Role of Patent Cooperation Treaty
6. Management of Intellectual Property in Pharmaceutical Industries
7. Special Aspects of Drug Patent Specification