maheshwariandco

  Protection of IPR provides fair incentives to innovations, helps prevent potential IP infringement and enables inventors from defending infringement cases. Specifically in the pharma sector, the process of identifying ones IP, protecting ones IP and commercialising the asset provides exclusive rights to inventors of life-saving drugs to market their products openly, reap profits from their R&D efforts and also prevent others from unauthorized manufacturing or sale of these products. IP protection in the pharmaceutical sector holds significant importance, as it provides commercial advantages and also holds public health considerations. Some key ways in which the Indian pharmaceutical industry can effectively manage its IPRs are outlined below. 1. Patent registration It is imperative for pharmaceutical companies to obtain a registration for its novel drug or medical equipment or process. For obtaining a patent, the drug/ equipment/ medical process must be novelty, inventive and...