SUMMARY

ROLE OF IPR IN PHARMA INDUSTRY AND EDUCATION

Shreya Sharma, Arun Garg, Suresh Purohit, Nitika Ahuja

P.D.M. College of Pharmacy, Bahadurgarh, India

INTRODUCTION

Intellectual Property Rights are legal rights, which result from intellectual activity in the industrial, scientific, literary and artistic fields. These rights give statutory expression to the moral and economic rights of creators in their creations. Intellectual Property Rights safeguard creators and other producers of intellectual goods and services by granting them certain time-limited rights to control the use made of those productions. These rights also promote creativity and the dissemination and application of its results and encourage fair-trading, which contributes to economic and social development.

Objective

The overall aim of the Intellectual Property Rights (IPR) is that the student will learn why an active drug-IPR strategy is necessary for a company in order to earn back its huge investments in research and development, as well as to maintain its core business without infringing on the Intellectual Property Rights of other companies. Students will gain understanding of why it is important for the company’s IPR policy to have a positive contagious effect and for everyone - regardless of what function in a pharmaceutical company a pharmacist has - to be alert to identifying patentable opportunities for the company. Researchers and workers also learns why it is important for research institutes, including institutions of higher education and sector research departments, to protect the new developments/discoveries made.

IPR and Indian IndustryOne of the major challenges that Indian economy faces is in terms of the changes that are necessitated to meet the requirements of new regime, some are already compatible while others have to be made so. For e.g. Patent act is being modified in phases, the trademark act already revised etc.The implementation of WTO's Trade Related Intellectual Property Rights gives standard protection to copyrights, trademarks, layout designs and product rights. But there are many possibilities that Indian exports could even be banned because of the product patents. For instance, exports can be barred if the product in question violates patent rights in the importing country.The penalties for infringement (unauthorized usage) should be tough and enough to deter violations. The dispute settlement procedure to solve the disputes between the nations also should be put in place so that justice is done to the cause of developing countries. Besides these the remedies should be appropriately framed along with the rights. The present objective should be to provide solution expeditiously, legally, predictably, and in a non-burdensome manner. A legal mechanism is needed to deal with the problems, but it should not open TRIPs agreement for re-negotiationIPR standards vary widely across nations affecting the trade between countries, and also encouraging trade in counterfeit and pirated goods. In a globalized world where exchange of goods have become a common phenomenon protection of the rights become necessary not only for the inputs and technology. Therefore, an enterprise

requires comprehensive, well thought of and planned structure to manage intellectual capital. The increase in competition requires the intellectual capital to become the intellectual property through adequate legal protection. However, there is a huge opportunity in terms of JV's.

IPR and Education

Students will

Understand the basic principles of intellectual property rights and international patenting systems

Understand the importance of an active intellectual property rights policy in the pharmaceutical area

Have insight into the significance of evaluating the dominance and infringement situation prior to marketing a new drug, for example

Have acquired skills in reading and interpreting a patent application and a patent Have acquired skills in applying the general principles on which a patent application

is prepared, regardless of whether one is conducting drug research at an institution of higher education or a drug company.

ROLE

Financial incentive

These exclusive rights allow owners of intellectual property to benefit from the property they

have created, providing a financial incentive for the creation of and investment in intellectual

property, and, in case of patents, pay associated research and development costs.

Economic growth

The existence of IP laws is credited with significant contributions toward economic growth. 

 "IP-intensive industries" are estimated to generate 72 percent more value added  (price minus

material cost) per employee than "non-IP-intensive industries".

Some Concluding Observations:

Having understood the intricacies of the terms and their respective details and impact, it is necessary to state that Indian firms should seriously start looking at these intellectual properties as their assets and stop bothering about the prospective challenges of the competition ahead.  The main problem/ challenge that face the organizations are

Lack of clarity and proper understanding regarding the various concepts of intangible assets and their significance in increasing the value of the organization.

Even if very few knowledge based firms realize the value of these intangibles, there is no proper system in place in many organizations which take care of the measurement of these intangibles.

This presentation reveals that IPR plays a very important role in both Pharma Industry and Education.

Reference

http://en.wikipedia.org/wiki/Intellectual_property

http://www.nipo.in/knowyourip1.htm#know1

http://www.wipo.int/about-ip/en/

http://www.indianmba.com/Faculty_Column/FC534/fc534.html