Guide The Role of Intellectual Property Rights in Biotechnology Innovation

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The Role of Intellectual Property Rights in Biotechnology Innovation

What is Intellectual Property Rights Biotechnology Biotechnology intellectual property rights is the legal ownership of an interest in a patent, trademark or trade secret. Compare Investment Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. This grant provides the inventor exclusive rights to the patented process, design, or invention for a designated period in exchange for a comprehensive disclosure of the invention. Behind Trademarks A trademark is a recognizable sign, phrase, or symbol that denotes a product or service and legally differentiates it from all others of its kind.

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Copyright Copyright is the exclusive right that the owner of an intellectual property has. It protects the creator's work from unauthorized duplication or use. Reading Into Proprietary Technology Proprietary technology is the combination of tools, processes, and unique capabilities businesses develop or acquire to gain a competitive edge.

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Medical Patent A medical patent is legal protection granted by the government to the inventor of a unique physical item or process with a medical purpose. How Royalties Work A royalty is a payment to an owner for the ongoing use of their asset or property, such as patents, copyrighted works, or natural resources.

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Intellectual property - Wikipedia

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New Quantity Available: 4. Seller Rating:. New Paperback Quantity Available: Published by Edward Elgar Publishing , Cheltenham New paperback Quantity Available: 1. Published by Edward Elgar Publishing Inc. New Paperback Quantity Available: 1. Majestic Books London, ,, United Kingdom. Published by Edward Elgar Publishing Ltd New Quantity Available: Chiron Media Wallingford, United Kingdom. Whether a new method of harvesting or a new machine used during sowing or transport, patent protection can be used to protect these innovations and in turn, develop a competitive advantage, or a new asset for their business.

There are over , farm businesses in Australia and each farmer produces enough food to feed people, of which are overseas. A patent generally only provides protection in one jurisdiction, and for protection overseas additional applications must be made in those territories.

It is therefore important to understand the differences between jurisdictions in terms of Patent and Plant Breeders Rights legislation. In Australia for instance, transgenic plants, plant varieties, and plant breeding processes are patentable, while in Europe, plant varieties and plant breeding processes that are essentially biological are not patentable subject matter.

Each country varies and therefore, before finalising your plans, it is important to seek advice from a qualified patent attorney. An alternative protection option exists for organisations, traditional small farmers and eco-organisations that will continue developing new varieties and alternative plant breeds — Plant Breeders Rights PBR. One aim of plant breeder rights is to provide incentives to breeders to create new varieties which could create an increase in yields, alongside those using genetic modification [9].

PBRs grant a limited commercial monopoly to breeders of new plant varieties.

The monopoly means others cannot reproduce the material, condition the material, sell or offer to sell it, import or export it and cannot stock the material for any of those purposes. The plant variety must be new, uniform, stable and differentiated from any other variety with respect to its characteristics. To be eligible for grant of a PBR, it is important that the new variety has not or has been only recently exploited. The precise length of time after such exploitation that protection can still be applied for can be as little as 12 months. If the plant variety meets the criteria for both a patent and a PBR, it is possible to apply for protection under both.

Regardless of what an innovator chooses, it is important to weigh up the advantages first. Patents have a more extensive monopoly right and protect more than the variety. They can cover the process for producing the plant, the plant product and methods of use of the plant or of material obtained from the plant. Patents provide licensing opportunities, provide protection and create an asset for the innovatorix. PBRs, on the other hand, are much cheaper, easier and quicker to apply for, they protect the variety name and while they must be new, uniform, stable and unique, they do not need to be inventive.

The process of securing protection in the agricultural sector in Australia can be complex and mistakes at an early stage may be damaging to the outcome.