Role of the Interrelation of Intellectual Property Rights in the Pharmaceutical Industry: A Comprehensive Exploration of Medicinal Accessibility within the Pharmaceutical Industry
Keywords:
Intellectual Property Rights (IPRs), pharmaceutical pricing dynamics, medicinal accessibility, TRIPS compliance, compulsory licensing, pharmaceutical data exclusivity, pharmaceutical industry, innovation incentives, affordable access, global health, pandemic preparedness.
Abstract
Intellectual property rights (IPR) have been defined as ideas, inventions, and creative expressions based on which there is a public willingness to bestow the status of property. IPR provide certain exclusive rights to the inventors or creators of that property, to enable them to reap commercial benefits from their creative efforts or reputation. There are several types of intellectual property protection like patent, copyright, trademark, etc. Patent is a recognition for an invention, which satisfies the criteria of global novelty, non- obviousness, and industrial application. IPR is prerequisite for better identification, planning, commercialization, rendering, and thereby protection of invention or creativity. Each industry should evolve its own IPR policies, management style, strategies, and so on depending on its area of specialty. Pharmaceutical industry currently has an evolving IPR strategy requiring a better focus and approach in the coming era.
How to Cite
Yogesh Dewahe, Shivani Shukla, & Disha Chouhan. (1). Role of the Interrelation of Intellectual Property Rights in the Pharmaceutical Industry: A Comprehensive Exploration of Medicinal Accessibility within the Pharmaceutical Industry. International Journal of Pharma Professional’s Research (IJPPR), 15(2), 156-164. Retrieved from https://ijppronline.com/index.php/IJPPR/article/view/460
Section
Articles