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ARTICLE · 22 OCTOBER 2015

Trade Related Practices And Their Impact On Intellectual Property Sector

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One of the major influencers in the Indian Patent context has been the TRIPs agreement.

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Effectual Knowledge Services
Effectual Knowledge Services

One of the major influencers in the Indian Patent context has been the TRIPs agreement. TRIPs stand for Trade Related Aspects of Intellectual Property. India entered into the TRIPs agreement back in 1995 but it has been in effect since the 2005 amendment of the Indian Patent Act 1970. India started off offering protection of process patents. Though the patent filing activity in India is very less, it still allowed companies to file for process related patents, particularly the pharmaceutical sector. Since its enactment, the Indian patent system has now re-instated the product patent regime and now abandoning the process patents.

One of the main sectors to have benefited from this enactment is the pharmaceutical sector. The Indian pharmaceutical sector is the third largest in the world with a you turnover of over $ 20 billion. Most of the revenues have been realized is through the generic drug market. The generic drugs are the reverse engineered and cost effective

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