Get The Role Of Intellectual Property Rights In Bio- Technology Transfer ... - Isaaa

Intellectual property rights (IPR) refers to the legal rights given to the inventor or creator to protect his invention or creation for a certain period of time.[1] These legal rights confer an exclusive right to the inventor/creator or his assignee to fully utilize his invention/creation for a given period of time.

Just like with other industries, intellectual property rights allow biotech firms to establish ownership and protect their products from the threat of competitors.

IP gives the IP owner ( which is not forcibly creator) an exclusive right over the use of his/her creation for a certain period of time. Protected IP becomes a legal right, which is a necessary precondition for IP commercialization and technology transfer.

A DNA or genes of organisms cannot be patented because it is a natural product, but cDNA is patentable because it is modified by researchers and is not an original product of nature. IPR is usually considered in three types i.e. patents, trademarks and copyright.

Through the protection of intellectual property, innovation and growth in the IT industry can continue to thrive. Industry players are incentivized to invest in research and development of new technologies, knowing that their innovations will receive legal protection and provide a fair economic advantage.