Intellectual Property (IP)
Patents are designed to protect the composition and application of inventions or, in the case of the pharmaceutical industry, new compounds or uses. For an invention or new compound to be patentable is must be determined to be useful, novel, and non-obvious. This usefulness can be demonstrated by describing it applications. Patents expire 20 years from the original filing date, and help to prevent others from legally commercializing the invention, its derivatives, and downstream products without permission.
The most useful patents in the pharmaceutical arena are those that cover the composition of an effective drug and its application for treating particular diseases. This patent strives to prevent any other company from manufacturing the drug using any methods, and selling the drug for any indication without first obtaining a license from the patent holder. A utility patent covers the use of a drug for treating a particular disease. These can be obtained for indications not covered under the composition patent.
It is important that the scope of the intellectual property including patents, know-how, and trade secrets be understood and protected through appropriate documentation and agreements. To avoid ownership and control problems, a company should initiate an IP Program to help it maintain and protect its portfolio.
|
Accomplishments
