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Biotech Industry Report Says IP Rights Inspire Innovation

Many people believe that intellectual property rights (IPRs) as barrier to innovation. According to popular beliefs, IPRs can increase the barrier to entry in an industry for new firms. But history hints the opposite. A report presented at the 2012 BIO International Convention in Boston, Massachusetts shows that in the last decade increase in patents have been equalized by growth in the biotech and pharmaceutical sectors in India, Brazil, Singapore and other countries with uprising economies.


Science, Image Credit: Wikimedia

Joseph Damond, vice-president for international affairs at the Biotechnology Industry Organization (BIO) pointed out, “There’s been active debate about whether stronger intellectual-property rights are a help or a hindrance to developing industries.” Research shows that growth in biotech and pharmaceuticals in some developing countries are matched with increasing patent numbers. As the sectors, grew in these countries the IPR index of those countries also increased. David Torstensson, a senior consultant at Pugatch and an author on the report, said, “In the literature we found that no, patenting does not stand in the way of research.”

The report can be obtained from Pugatch Consilium.

Source: Nature

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