The authentic right to access something of your own is very important. That’s why the Intellectual Property Rights (IPRs) are so important to protect your rights. A patent is one of the most important Intellectual Property Rights like a trademark, geographical indication, industrial design, and copyright.
The Patents Act of 1970 governs the grant of patents in India. After India signed the TRIPS (Trade-Related Aspects of Intellectual Property Rights) agreement in 1995, some significant changes like an increase in the term of a patent to 20 years and provision of product patents were implemented and updated. Here we are discussing the scenario of patenting in Pharmaceuticals in India.
Patents are granted to inventors to protect their inventions. It is an exclusive right that is granted by the government to the applicant of the patent. The inventors themselves can apply for a patent or can assign any other person/company to apply. Having a patent, the inventor can exclude others from any type of unauthorized activity with the invention.
Every research in the Pharma Industry has great potential to produce some absolutely unique and inventive results that can become some very useful products in the future. So, it is very important to save those inventions from any unauthorized access by any of the large number of competitors out there. Now, let’s take a look at the major Pharma patents provided by the Indian Patent Office.
A patent can be considered as a form of property. So, the transfer of a patent requires an absolute legalized process as follows –
By patent assignment, the owner of the patent can transfer all or part of the rights associated with the patent to any other person. The person who assigns is called the assignor and the person to whom the rights are assigned is called the assignee.
Patent owners can provide some limited rights to others by a patent license. The rights associated with patent licenses are subject to time, the field of use, and geographical area.