{"id":23517,"date":"2021-01-06T11:28:29","date_gmt":"2021-01-06T05:58:29","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=23517"},"modified":"2021-07-16T15:53:07","modified_gmt":"2021-07-16T10:23:07","slug":"patent-protection-failing-to-serve-its-purpose-in-pharmaceutical-sector","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/patent-protection-failing-to-serve-its-purpose-in-pharmaceutical-sector\/","title":{"rendered":"Why is Patent Protection failing to serve its purpose in Pharmaceutical Sector?"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The Global pharmaceutical industry, operating worldwide\nleverages the patent system to protect their best interest. Despite being\nattached to a strong legal framework, the patent system has been distorted\noftentimes. Patent protection has been negatively influenced by pharma\ncompanies for the sake of fiscal benefits.<\/p>\n\n\n\n<p>The so-called lobby system in our country is held responsible for the uneven pricing of the <a href=\"https:\/\/corpbiz.io\/drug-license\"><strong>drug<\/strong><\/a> and illicit profit distribution. It&#8217;s the public who pays the price of such an unlawful act by purchasing the medicine at a considerably higher cost. In light of the above statement, let&#8217;s find out why patent protection is failing to serve its objective in the pharmaceutical industry.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/patent-protection-failing-to-serve-its-purpose-in-pharmaceutical-sector\/#What_are_the_Key_Objectives_of_a_Patent\" >What are the Key Objectives of a Patent?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/patent-protection-failing-to-serve-its-purpose-in-pharmaceutical-sector\/#Brief_on_Different_Patent_Protection_Qualifications_Eligibility_Criteria\" >Brief on Different Patent Protection Qualifications &amp; Eligibility\nCriteria<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/patent-protection-failing-to-serve-its-purpose-in-pharmaceutical-sector\/#Why_the_Patent_Process_is_failing_to_serve_its_Core_Objectives\" >Why the Patent Process is failing to serve its Core Objectives?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/patent-protection-failing-to-serve-its-purpose-in-pharmaceutical-sector\/#How_to_Safeguard_Ideas_in_the_Absence_of_a_Patent\" >How to Safeguard Ideas in the Absence of a Patent?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/patent-protection-failing-to-serve-its-purpose-in-pharmaceutical-sector\/#Why_Does_the_Drug_Industry_Need_Patent_Protection_More_Than_Ever\" >Why Does the Drug Industry Need Patent Protection More Than Ever?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/patent-protection-failing-to-serve-its-purpose-in-pharmaceutical-sector\/#Conclusion\" >Conclusion&nbsp;<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_Key_Objectives_of_a_Patent\"><\/span>What are the Key Objectives of a Patent? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p> Typically, a patent serves two purposes; one- it sparks up the interest among the manufacturers to escalate their research activities and address the problematic areas. The second motive is to advocate the broader good of the nation.&nbsp;The time span allotted for the exclusive use of new technology was intended to be considerably short, with the masses gaining the benefits in perpetuity. As such, the patent was primarily designed to stimulate not only the interest of its creator, but also growth of the nation. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Brief_on_Different_Patent_Protection_Qualifications_Eligibility_Criteria\"><\/span>Brief on Different Patent Protection Qualifications &amp; Eligibility\nCriteria<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p> The section below provides the details regarding the qualification of patent protection required to file for a patent. Any invention related to process or product that does not represent the category of non-patentable items, rejoice patent protection in India. The eligibility criteria regarding patent protection in India is as follows;&nbsp; <\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/01\/Brief-on-Different-Patent-Protection-Qualifications-Eligibility-Criteria-1024x887.png\" alt=\"Patent Protection Qualifications &amp; Eligibility\" class=\"wp-image-23518\" width=\"535\" height=\"463\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/01\/Brief-on-Different-Patent-Protection-Qualifications-Eligibility-Criteria-1024x887.png 1024w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/01\/Brief-on-Different-Patent-Protection-Qualifications-Eligibility-Criteria-300x260.png 300w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/01\/Brief-on-Different-Patent-Protection-Qualifications-Eligibility-Criteria-768x665.png 768w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/01\/Brief-on-Different-Patent-Protection-Qualifications-Eligibility-Criteria.png 1026w\" sizes=\"(max-width: 535px) 100vw, 535px\" \/><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_the_Patent_Process_is_failing_to_serve_its_Core_Objectives\"><\/span>Why the Patent Process is failing to serve its Core Objectives? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The purpose of the patent process &amp; the balances between the\ndual objectives has been distorted over the past decade.&nbsp; Increasingly, pharmaceutical companies are\nnot pouring enough money in Research and Development proportional to the\nprofits they reap from the medicines they rolled out in the market, in spite of\ntheir struggle on the contrary.&nbsp; <\/p>\n\n\n\n<p>Instead many drug producers have found that it is conducive from a fiscal viewpoint to both acquire the right to develop drug by others or buy out a medication already present in the market, and raise the price.&nbsp;As a result, the patent protection has now restrained and failing to serves its core objectives. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Safeguard_Ideas_in_the_Absence_of_a_Patent\"><\/span>How to Safeguard Ideas in the Absence of a Patent?&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Obtaining patent protection is a costly affair, and oftentimes\nnew ideas might possess non-adherence with patent protection qualifications.\nHenceforth, in such circumstances, you might need to look for another\nalternative to safeguard the idea. The following strategies would help you\novercome that dilemma and might prove beneficial in protecting your ideas.<\/p>\n\n\n\n<p>Make sure to conduct in-depth research before hiring any\nthird-parties to serve this purpose. Make sure to secure substantial evidence\nregarding the company&#8217;s track record to determine its performance in the\nconcerned area.&nbsp;<\/p>\n\n\n\n<ul><li>Draft a confidentiality contract <strong>(Non-Disclosure Agreement<\/strong><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Non-disclosure_agreement\"><strong>[1]<\/strong><\/a><\/sup><strong>) <\/strong>with the associates to safeguard your idea.<\/li><li>Draft a Non-compete agreement while appointing workforce to avert any breach of the idea.<\/li><li>Furthermore, make an application regarding the provisional patent to avail preliminary protection for your design or invention.<\/li><li>If applicable, endeavor to obtain <a href=\"https:\/\/corpbiz.io\/trademark-registration\"><strong>trademark registration<\/strong><\/a> if your concept adheres to creativeness or which is related to branding.&nbsp;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_Does_the_Drug_Industry_Need_Patent_Protection_More_Than_Ever\"><\/span>Why Does the Drug Industry Need Patent Protection More Than Ever?&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Patent protection is nothing short of an asset for the\npharmaceutical companies finding it hard to safeguard their ideas. Large pharma\ncorporations spend billions of dollars every year for the development and\ntesting of new medicines.&nbsp;<\/p>\n\n\n\n<p>Furthermore, once they succeed in inventing a new league of drugs, they opt for the <a href=\"https:\/\/corpbiz.io\/patent-registration\"><strong>patent registration<\/strong><\/a> to secure them against the act of duplication. During the patent registration, the applicants are supposed to publish the new medicine, enabling them to sell it exclusively.<\/p>\n\n\n\n<p>Technically, the patent registration remains valid for 20 years.\nThe said timeline is enough for the Pharma Corporations to recoup the funds\nthey invested for developing the drug. Furthermore, the patent protection\nsystem prepares the roadmap for further development by ensuring the commercial\nincentive for the firm. However, the aggressive lobbying by the bigger\norganization and agencies has undermined its credibility to a considerable\nextend.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The patent protection has yet to emerge as primary options for the drug manufacturers for securing the IPR of the newly developed medicines. Since, patent can allow the companies to skyrocket the price of their medicines; the government has to step in to inculcate new provision in the Patent Law. This not only allows the masses to pay less money for the new drug but also enables the companies to improve their credibility over the course of time.&nbsp;The government should consider revising the policies under Patent Act to get more and more drug manufacture on board. This would enable the manufactures to pour in a substantial amount of money to develop new drug and enjoy long-term benefits. <\/p>\n\n\n\n<p>Connect with <a href=\"https:\/\/corpbiz.io\/\"><strong>CorpBiz<\/strong><\/a> if you still have some queries in your mind regarding this topic. Use the comment section to share your views or question, and we will try to respond to them promptly. You can also have verbal communication with our professionals in case if you seek some expert-oriented advice on government-based registration and license. We are one-stop destination for government registration and licenses in India. <\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/abuse-of-patent-right-with-respect-to-drugs\/\">\nLets Understand the Abuse of Patent Right with respect to Drugs\n<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Global pharmaceutical industry, operating worldwide leverages the patent system to protect their best interest. Despite being attached to a strong legal framework, the patent system has been distorted oftentimes. Patent protection has been negatively influenced by pharma companies for the sake of fiscal benefits. The so-called lobby system in our country is held responsible [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":23520,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[282],"tags":[1396],"acf":{"service_id":"20"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":3220,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/23517"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=23517"}],"version-history":[{"count":8,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/23517\/revisions"}],"predecessor-version":[{"id":33047,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/23517\/revisions\/33047"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/23520"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=23517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=23517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=23517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}