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Legal Battles In Biotechnology
Transcript of Legal Battles In Biotechnology
New or original knowledge and the creative expression of ideas is the driving force of successful businesses in the 21st century. Therefore, safeguarding such knowledge and creative expression from inadvertent disclosure or its unauthorized use by competitors is becoming increasingly critical for developing and retaining competitive advantage. Building a business also requires various types of other resources, including a network of relationships and sources of funds.
"CHECK IT TWICE"
The societal impact of the genetic engineering revolution is only beginning to be felt in the marketplace, and most molecular biologists agree that the biotechnology industry is only in its infancy. Because of the need for substantial investment of venture capital for research and development of new products, and the long time and additional capital required to bring a product to market, many new companies have struggled and remained small. Many also have folded or have been acquired by larger companies.
"KNOW THY IP"
If a true "modern bio economy" is to emerge in the yeas ahead, intellectual property will no doubt play a critical role. Intellectual property rights - the manner in which they are recognized, traded and managed, nationally as well as globally - will influence a form such a bio economy takes, where it will flourish and flounder, and to whom the principle benefits will flow.
"Genetically modified organisms, especially crop plants used in the production of food for human consumption, have generated quite a lot of controversy. It is important to distinguish among these controversies, however, in as much as criticisms of some sort may have more evidence and argument behind them than for others.
Legal Battles In Biotechnology
Although each business is unique, there are certain common experiences. The following is a top-10 list of critical legal issues that bio tech start-ups should make an effort to address with the aid of legal counsel, even when the capital squeeze is intense. An investment upfront can secure long-term dividends for the financial stability and profitability of the venture.
Headhunting is a solution to fulfilling an immediate recruitment need. We also offer a pro-active strategy through the deployment of our talent acquisition programme. This approach provides you with an open gateway to what the market can offer. This process offers you the distinctive advantage of keeping close to market movements during a time when you may not have a recruitment need but will enable you to move quicker than your competition when it comes to an active recruitment campaign.
As investors consider the many interesting opportunities presented by IP companies, they must take into account the diversity of business models that exists. There are a number of strategic models being employed – each with varying success and its own unique set of risks and benefits. With so many publicly traded IP companies in the sector, it is vital that investors spend the appropriate time and energy understanding the differences that exist.
Responsible for ensuring that IP is used as an effective tool for national development.
So that we can avoid any kind of plagiarism.
Assets are called intellectual property to the extent they bear recognized ownership.
The economic returns to creating them depend on their costs of creation, their desirability to
potential users, the structure of markets in which they are sold, and the legal rights
established to permit property owners to control their use. The legal devices that provide
such control are called intellectual property rights.
The time to think about dealing with infringement is not when it occurs nor even when the intellectual property right is granted but before it is sought Consideration should be given to the appropriate protection for intellectual assets at the earliest possible stage
The legalities at work dictate such that if you use any material owned by the company then said company can lay legal claim to the intellectual property right from the person who created the idea.
They however cannot lay claim to what you think except in the case when thinking becomes physical in some form.
The smart choice is to wait until you get home and then write your idea out on a piece of paper.
But do not the paper companies that supply the physical material have equal rights to profit from your idea as well? And not to mention the ones that let you write in something other then your own blood!
They too should legally own a portion of any and all intellectual property on account of supplying the physical components in order for you to profit from whatever thought you wrote down.
"Read All About It"
These exclusive rights allow owners of intellectual property to benefit from the property they have created, providing a financial incentive for the creation of an investment in intellectual property, and, in case of patents, pay associated research and development costs.
In 2013 the United States Patent & Trademark Office claimed that the worth of intellectual property to the U.S. economy is more than US$5 trillion and creates employment for an estimated 18 million American people. The value of intellectual property is considered similarly high in other developed nations, such as those in the European Union In the UK, IP has become a recognised asset class for use in pension-led funding and other types of business finance. However, in 2013, the UK Intellectual Property Office stated: “There are millions of intangible business assets whose value is either not being leveraged at all, or only being leveraged inadvertently”
The thrust of a competing corporation’s current and future technology development can be analyzed by reviewing its IP portfolio. The geographic coverage of the IP indicates global market strategies. The age of patents and frequency of filing disclose the product life cycle and maturity of technology. Citation counts
reveal the importance of a patent within the
industry. A look at the inventors on research teams may indicate personnel trends in R & D management. Professional analysis of the quality of patents reveals how well a core technology is protected