Intellectual property protection

Abstract

Intellectual property protection is vital to maximising the benefit of research and development in the life sciences. Technological improvements, especially when embodied in commercial products, tend to be fairly transparent and therefore available to potential competitors. Such competitors can therefore acquire knowledge about state-of-the-art technology within a reasonably short period of time and with relatively modest research and development effort of their own. "[intellectual] property rights enable individuals and companies to protect those of their ideas and information that have some commercial value from exploitation by others." "It is important to note that holding a patent does not give the patent holder the positive right to market the invention that is the subject of the patent."