Intellectual Property Rights: Open Access

Abstract

Patent Execution Strategies

Md. Faiyazuddin

Patents are considered to be enticements for innovation and thereby expected to benefit humanity by making available to the society. Pharmaceutical patents cover products that take a very long time to develop and the patent life is actually closer to 11 or 12 years since federal law requires a company to test its product for safety and efficacy and secure regulatory approval before marketing. Developing countries experience shows that such incentives focus on the market demand rather than the need of the society. This is more obvious in the health related innovation. Therefore, a strong IP protections safeguard should be held against counterfeit, illegitimate and fake pharmaceutical products.