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ARTICLE · 15 JULY 2024

The Evolution Of Patent Law In The Pharmaceutical Industry

Khurana & Khurana, Advocates and IP Attorneys
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Intellectual Property refers to the creations of the human mind while intellectual property rights simply refer to those rights that protect creations of the human mind

IndiaIntellectual Property
Monikapriya Sinha
Monikapriya Sinha
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INTRODUCTION

Intellectual Property refers to the creations of the human mind while intellectual property rights simply refer to those rights that protect creations of the human mind. These rights are vital in giving the inventors faith that their invention is protected. A similar problem with competitive pressure relates to third-party imitation including the use of techniques like reverse engineering especially within contexts like the pharmaceutical industry. Patents are legal rights provided to inventors to offer them exclusive control of their inventions and still provide penalties for infringement. Indian Patent Act, enacted in 1970 replacing the Colonial Patents and Designs Act of 1911, was also highly favourable for domestic entrepreneurs by providing a process patent regime and cutting the patent period to five years.

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