Intellectual Property

Intellectual Property within the Bio-Technology Industry

Intellectual property within the Bio-Technology Industry are intangible, this includes ‘patents’, ‘trade secrets’, ‘copyrights’ and ‘trademarks’. The rights to shield this property exclude others from making, copying, using or selling proprietary items. Specifically bio-technology, one example of intellectual property is the processes and products, which are a direct effect during a development process in the creation of a particular product. The Research outcomes as intellectual properties promote industries to add budgets for labor, R&D groups and facilitate production of commercially viable products if relevant.

Patents can be granted after application is submitted, fulfilling certain statutory requirements. Upon the awarding of a patent, by the Patent and Trademark Office (PTO), it is then published, made available to the public, on a weekly basis. This ensures that rivals may try to improve the patented invention, thus further advancing technology. Advancement is essentially made through a propagation of thoughts and only marketability can ultimately establish which patented inventions are successful in a commercial application. However, patented subject matter must meet three criteria’s: utility, novelty and statutory subject matter. The problem arises specifically towards biotechnological inventions is that utility criteria can be established, but establishing the novelty and statutory subject matter to products are where the difficulties arise.

Trade Secrets are often described as private proprietary information or physical material that allows a definitative benefit to the owner. Trade secrets that are in the area of biotechnology usually include substance like: hybridization conditions, cell lines, corporate merchandising plans or customer lists, just to name a few. Trade secrets, unlike patents, have unlimited duration and therefore advert the patent application condition...