After these critical phases of the entire world, the nation moves to a true modern bio economy.
In the coming years, intellectual property will undoubtedly play a key role in Healthcare, pharmaceutical domain. Intellectual property rights: how they are recognized, marketed, and managed, both nationally and globally: it will influence the form that this bio economy takes, where it will flourish and flounder, and to whom the main benefits will flow.
An intellectual property right is a vital component of academia and industry. It is an essential part of industry in the high tech sector. Standardization efforts have become a key activity for the process of industrial biotechnology sectors.
Intellectual Property Rights gives the owner and the State control over the use of his / her creations or new products for some time; it is essential for the nation’s socio-economic success. This right assists in promoting efficiency and management by disseminating new information or products and promoting competition.
Dr. Anand Bhadalkar, Joint Director GSBTM Said that IPR is the backbone of knowledge based industries including biotechnology industry. Hence, students of sciences in general, and life sciences, in particular; should pay keen attention to the principle, practices and developments in the field of IPR.
In these perspectives of view, a graduate in science could be made part of these regulatory processes.
In Broader approach says that Intellectual property represents the product of Mind and intelligence. They are ideas converted to a tangible, Protected Intellectual property right.
Furthermore, If avoiding this issues is not always possible for research and development (R&D)and industry sectors. It requires the use of technologies, in which covered by IPRs owned by others
In some of the industrial sectors, this has led to concerns about the so-called “thickets” of IPRs. In industry persons combines many tools and data from different disciplines, it is unlikely that scientists can safely continue to use IPRs. Nonetheless, the reliance on research exceptions and contractual models such as IP pledges, cross-licensing, clearinghouses, and pools could facilitate access and use of such technologies, data, etc. Therefore, even though in many countries, young scientists may already have opportunities to follow basic IP law classes and management, it would be helpful to set up additional IP training tailored to the needs of the industry.