Introduction to Intellectual Property Rights (IPR)

Introduction to Intellectual Property Rights (IPR):

• Intellectual Property Rights (IPR) refer to legal rights granted to creators and inventors to protect their intellectual work from unauthorized use.
• It promotes innovation by rewarding creators with exclusive rights over their inventions or works.

Types of Intellectual Property Rights:

1. Patents – Protect inventions (processes or products) for 20 years.
2. Copyrights – Protect literary, artistic, and musical works.
3. Trademarks – Protect brand names, logos, and symbols.
4. Trade Secrets – Protect confidential business information.
5. Geographical Indications (GI) – Protect products linked to specific regions (e.g., Darjeeling Tea).
6. Industrial Designs – Protect the visual design of products.

Importance of IPR in Pharmaceuticals:

1. Patent Protection – Allows pharmaceutical companies to secure exclusive rights for new drug formulas.
2. Innovation Incentive – Encourages research and development (R&D).
3. Market Advantage – Prevents copying and maintains competitiveness.
4. Generic Drugs – After patent expiry, generic manufacturers can produce affordable versions.
5. Compulsory Licensing – Allows governments to authorize the production of patented drugs during emergencies.

International Agreements:

1. TRIPS Agreement (1995) – Sets international standards for IPR.
2. WIPO (World Intellectual Property Organization) – Manages global IPR protection.

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