Patent protection in the biotechnology industry: a unique approach to obtaining fast patent rights.

Strong intellectual property protection is as essential in the biotechnology field as in any other cutting-edge field. Biotechnology patents can serve to promote the advancement of new medicines, diagnostic equipment, and agricultural products. Biotechnology patents not only reward inventors for their inventions through market exclusivity, they also can stimulate research and the flow of scientific and technological knowledge on a global basis. Biotechnology patents further encourage companies to invest in developing new drugs, therapies, and equipment. This development often takes many years and is a very expensive and risky process. Without patent protection, competitors could copy the developed drugs, for example, and sell these drugs at a substantially lower price because they have not expended the resources necessary to develop the drugs. In this situation, the competitor could capture a substantial portion of the market with a lower priced drug and the innovating company would be required to lower its price to compete and, as a result, may never recoup its substantial development costs. Thus, it becomes critical to obtain patent protection and to do so as expeditiously as possible. This article addresses a unique approach to obtaining fast patent protection to help companies capture or maintain market share and exclusivity and prevent would-be copiers from undercutting the substantial investment expended by these companies.

Biotechnology-derived products have the potential to positively change our society, from improving health care to creating a cleaner, safer environment. Recent developments such as the sequencing of the human genome provide a foundation that will support decades of research, discovery, and development. Indeed, the markets recognize this potential, and as a result, significant investment has flowed into …