SOCIAL,ETHICAL AND LEGAL IMPLICATIONS OF BIOTECHNOLOGY

Intellectual Property Rights Intellectual property right is an idea, a design , an invention, a manuscript which can ultimately given rise to useful product. The development of such a property, as a rule requires intellectual inputs ingenuity an innovativeness it also demands considerable monitory and all other resources. But the major problem with IP is that they can be copied, imitated or reproduced, this minimizes the returns to original inventor.

Objectives of IPR Financial incentive: These exclusive rights allow owners of IP to reap monopoly profits these monopoly profits provide a financial incentive for the creation of IP, and pay a associated research and development cost. Technology diffusion: Technology diffusion occurs if IP is licensed or sold, conversely technology can equally be prevented from being shared should the owner wish not to sell license.

Economic growth: The legal monopoly granted by IP laws are credited with significant contributions towards economic growth. Industries which rely on IP protections are estimated to produce 72% more value added per employ than non IP industries.

BENEFITS OF IPR Advancing knowledge and bringing new knowledge eventually into the public domain through the unique source information contain there in. Identifying the trends and experts in a field Evaluating the strength of competitors Identifying unexplored area for undertaking R & D so as to become a leader in that area. Identifying unprotected areas to avoid infringement

Types of ipr Copyrights Trade marks Patents Trade secret

COPYRIGHT Copy right gives the author of an original work exclusive rights for a certain time period in relation to that work, including its publications, distribution and adaptation, after which time the work is said to enter the public domain.

Exclusive rights To produce copies or reproductions of the work and to sell those copies To import or export the work To create derivative works To perform or display the work publicly To sell or assign these rights to others To transmit or display by radio or video

TRADE MARKS A trade mark is a distinctive sign or indicator used by an individual, business organization or other legal entity to identify that the products or services to consumers with which the trade mark appear originate from a unique source and to distinguish its product or services from those of other entities.

PATENT Patent is an IPR relating to inventions and is grant of exclusive right for limited period provided by the government to the patentee in exchange of full disclosure of his invention for excluding others from making using or selling, importing the patented product or process producing that product for those purposes.

RIGHTS OF PATENTEE

TRADE SECRET When the individual owning an IP does not disclose the property to anyone and keeps it as a closely guarded secret to promote his business interest it is called TRADE SECRET

ADVANTAGES OF TRADE SECRET Trade secret protection is not limited in time so long as a information or invention that is trade secret is kept secret secrecy as well as novelty are the touch stones of a Trade secret. Where a patent will only be granted for an invention that meets the statutory requirements of patent ability in the country where a patent is sort a trade secret can be maintained without meeting any statutory test so long as a trade secret is unique. When an invention is maintained as trade secret competitors are not apprised of the secret. It is true that the enforcement of the patent right can be a very expensive undertaking.

DISADVANTAGE OF TRADE SECRET Trade secret protection is viable only so long as a secret remains . It is perfectly proper to try to discover a trade secret legitimate means for eg. Reverse engineering of the product presented to the public. Another undesirable aspect of trade secret protection is that there can be no enabling publication if the trade secret protection is to continue.