COVID-19 And Its Effects On Intellectual Property

The effects of the COVID-19 pandemic have been felt worldwide and across all business sectors. The pandemic is also leaving an impact on the protection of existing intellectual property rights ('IPRs') and on IPRs in the process of acquiring protection.

Whilst in normal circumstances IPR rightholders are granted protection over their intellectual property ('IP') against third-party use, the pandemic has created an unprecedented situation whereby IPR holders may be forced, even temporarily, to allow third-parties to use their IPRs, example patents or designs, for the public interest.

Suspension of IP rights?

Medical devices and medicinal products are generally protected via patents giving companies the legal right to inhibit third-party use. Patent protection allows creators to secure a quasi-monopoly, at least for several years, over their own unique inventions, after having invested time and money into the creation of the IP.