Intellectual Property Rights

Description :

Industrial property (IP) rights are extremely important for the pharmaceutical industry. The use of the IP system by SMEs in the pharmaceutical industry depends largely on the business strategy of a company, its size, resources, innovative capacity, competitive context and field of expertise. Research-based, innovation-led companies that seek to develop new drug, improve or adapt existing drugs or develop new pharmaceutical/medical equipment or processes, tend to rely heavily on the patent system to ensure they recover the investments incurred in research and development. Companies that rely on licensing in or licensing out of pharmaceutical products will need to be knowledgeable about the patent system to so that they are able to negotiate fair and balanced licensing contracts.

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