BIO provides news and policy recommendations for the many issues of importance to the biotechnology industry. PatentlyBIOtech is a snapshot of what impacts biotechnology, patent law, and innovation policy in the U.S. and around the world.
You might wonder, “what’s the connection between patents and biotechnology innovation?” Let’s start with biotechnology: Biotechnology improves lives around the world: patients taking a life-saving biologic, farmers using biotech seeds which require fewer applications of pesticide, and everyone using bio-based plastics and biofuels.
Second, patents are the cornerstone of technological innovation. The biotechnology industry’s work is protected and promoted by intellectual property laws. The majority of biotech companies do not yet have products on the market, so their main, and sometimes only, assets are their ideas. Without a strong patent system to protect these ideas, investors would not invest the hundreds of millions of dollars that’s needed to fund and bring a biotech product to market–and in the hands of patients and other consumers.
It’s pretty important to understand intellectual property law if you want to get a handle on how innovation really “works” in today’s world — so join us as we explore new ideas and big events. Send us an email with your thoughts. Post your comments on articles and events, and email us articles you like.
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