Advancement in the various fields of technologies like nanotechnology, biotechnology, databases, genetic resources, computer software etc. increases the trend of their commercial exploitation. This has triggered the efforts of industries, organizations, or individuals to fit in subject matters into the IPR (Intellectual Property Rights) regime, more particularly in the patent system.
The utilization of newer nanotechnologies for the development of useful products requires large economic investments. Even after development of these products, they may need to undergo screening and trials in order to be declared safe and effective utilization. Many such products get rejected even at the last stages of trials and all the investments made in such product development are wasted. Hence when any such product passes all regulatory tests and obtains market authorization, the organization, in order to recoup all the investments made in product development, are keen to obtain strong legal protection (like patents) against anyone trying to free ride on the developed product by copying it. Once a product hits the market, the reverse engineering or copying the chemical formula is quite simple and inexpensive matter. This necessitates the demand of intellectual property protection; but it may not be easy to protect them by just restricting in the conventional framework of copyright, patent and trademarks. There are also some efforts to develop new legal frameworks to meet demands of these new technologies. This note highlights various implications of IPR on novel nanotechnological development.
Journal of Advanced Scientific Research
Dr. Neeraj Kant Sharma
Editor-in-Chief, Journal of Advanced Scientific Research