Biotechnology Intellectual Property

INTELLECTUAL PROPERTY RIGHTS | BIOTECHNOLOGY INTELLECTUAL PROPERTY     Intellectual property rights have Biotechnology intellectual property as one of the varied streams of IP. The biotechnology intellectual property promotes the development of new biotechnology products and discoveries. Biotechnology has grown so much to an extent that new uses for old products and employment opportunities are evident in this biotechnology arena. Biotechnology Intellectual Property or Biotechnology Patents add value to new laboratory discoveries, it provides incentives for private sector investment into biotechnology development for new medicines, diagnostics for treatment, monitoring of intractable diagnosis and agricultural and environmental products to meet the global needs. Biotechnology Intellectual Property  plays a vital role in agriculture. Patents and plant variety protection certificates are used frequently to protect technological advancements. The above said rights allow the owners to prohibit competitors from "making, selling, using" an invention for a limited period of time.   The science of biotechnology has been pushing the frontiers of human knowledge and Intellectual Property. As scientists create new techniques and apply them commercially there has emerged a new industry for patent protection. There has been number of patents filed from biotechnology industry than other industry. Inventors who develop biotechnological innovations rely on IP rights to protect and validate their work. The inventors also rely upon IP licenses to gain access to needed tools and technologies.   When comparing biotechnology with other technology, the advancement of this technology is very high that they are being covered by patent system and hence routinely licensed and marketed. Due to the emergence of modern biotechnology, the most important issue is the legal characterization and treatment of trade related biotechnology processes and products which are termed as Biotechnology Intellectual Property Rights which are available to protect the property. In biotechnology, the processes and products are the important examples of intellectual property for example; development of genetic engineering techniques. These techniques encourage industries to allocate labour, research and development (R & D) and funding for the production of commercially marketable items. Biotechnology Intellectual Property implements many legal and public policies which are a challenge to biotechnological research which are undergoing drastic changes.    The developments of crop varieties which are protected by "Plant Breeders Rights" (PBR's) are also another example of Biotechnology Intellectual Property. Through PBR the new varieties of crops that are developed by the plant breeders enjoy the exclusive right for marketing the variety.   The intellectual property system can help realize the benefits of biotechnology. It can do so by examining the exclusive rights over what knowledge is, how knowledge is distributed, at what cost and who makes the decision. IP systems try to manage the competing needs and desires of those who produce and make use of new knowledge as well as those who buy products and services made through the use of this knowledge. IP systems also interact with existing national and international policies for innovation, health and agriculture to produce certain economic and social outcomes. The policy makers adjust and implement IP systems so that they achieve desired social, scientific and economic outcome in Biotechnology.

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