ABSTRACT

Biotechnology and intellectual property rights (IPR) are inseparable subjects crucial to the advancement and preservation of innovations in the pharmaceutical domain. Biotechnology represents the cutting-edge technology of the 21st century, encompassing scientific and engineering methods aimed at altering biological entities or their components for diverse purposes, such as pharmaceutical advancements, agricultural enhancements, and sustainable biofuel production. Concurrently, IPR serves as a fundamental mechanism granting creators exclusive rights and safeguards for their novel technologies, processes, inventions, or designs, thereby facilitating commercial exploitation while deterring unauthorized usage by others. The fusion of biotechnology and IPR has proven instrumental in driving scientific progress and economic growth. By granting innovators the incentive of exclusivity and control over their discoveries, IPR fosters investments in research and development, thereby stimulating further breakthroughs. Striking a balance between encouraging innovation and ensuring broader access to life-saving technologies remains an ongoing challenge. Policymakers and stakeholders need to devise robust frameworks that incentivize biotechnological advancement without compromising public health or limiting the equitable distribution of resources. In conclusion, the interplay between biotechnology and IPR is pivotal for fostering progress and protecting creators' rights in the life sciences sector. Careful consideration of ethical and social aspects is essential to navigating the complexities and potential implications that arise at this unique intersection, thereby creating a balanced and beneficial biotechnological landscape for all of humanity. Keywords: Biotechnology, Intellectual Property Rights, Patent, Trademark, Open-source Biotechnology
Publication date: 01/10/2024

https://ijbpas.com/pdf/2024/October/MS_IJBPAS_2024_8348.pdf

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https://doi.org/10.31032/IJBPAS/2024/13.10.8348