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Biotechnology & Intellectual Property Protection
01 June 2003Cathal Lane
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Technology Ireland, May 2003.
As a result of the current drive by the Department of Enterprise, Trade & Employment, and Science Foundation Ireland, the Biotechnology Industry in Ireland has expanded dramatically in recent years with continued focus on innovation and development. With this innovation comes an ever-increasing need for patent protection, writes Cathal Lane, Partner at Tomkins & Co., European Intellectual Property Experts.
While there are critics, protection is indispensable. This applies in particular to high investment/development cost projects. Biotechnology is a prime example. Venture capitalists and other fund sources simply will not fund a project which cannot be protected by way of patent.
Why? The simple reason is imitation. It is cheaper to copy than innovate. Bringing a medicinal product to market through clinical trials can cost in excess of EUR 100 million and is very high risk. Piggy-backing on that success costs substantively less and is relatively low risk even for products/processes that are less costly to develop. After all, no-one is going to imitate something that is not commercially viable. Protection is a fundamental cornerstone.
Patent protection essentially offers a 20-year exclusive right to the innovator in return for disclosure of the invention. After the exclusive period expires the patented invention is free for use by the public. This process supports the fundamental tenet of the patent system which is the need to reward innovators for their efforts. It is also worth noting that Tax incentives exist in Ireland for income received under certain patents.
Some misinformation has surrounded patent protection in relation to biotechnology. While certain restrictions do apply in certain jurisdictions, it is possible, with good patent advice to patent a new, inventive and industrially applicable biotech product or process. To this end, in seeking advice on patent protection, it is beneficial to identify an attorney with in-depth knowledge of the technology involved in your innovation. This is due to the highly technical nature of writing patent specifications.
If you wish to learn more about Patent, Trademark or Design protection Tomkins & Co recommend that you speak to a specialist intellectual Property (IP) advisor.
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