CHALLENGES IN BIOTECHNOLOGICAL PRODUCT INNOVATIONS PATENT: A REVIEW

This article evaluates patent protection as an incentive mechanism for biotechnology innovation in India, Since the 1970s much attention has been paid to the patentability of biotechnology. Most of the attention has focused on genetically modified organisms, whole and partial deoxyribonucleic acid (DNA) and other products derived from living systems using recombinant DNA and associated techniques (“modern biotechnology”) The biotechnology revolution has just begun to touch lives in the developing world. India is one that has immense potential to utilize biotechnology amongst developing countries, to its advantage to solve some of its most intractable problems of productivity, health and environment. Recent amendments and enhancements to patent laws in India, a new acceptance of biotechnology patents in recent trends. Patents that have significant impact and it analyses the international patenting trends, and countries active in patenting their inventions. It also examines Indian patenting activity and its comparison with international trends to assess the Indian efforts. However, the Trade Related aspects of Intellectual Property Rights (TRIPS) Agreement, to which India is a party as a member of the World Trade Organization (WTO), requires some level of protection of in pertaining to biotechnological inventions, which include groups of plant varieties. India must implement most of its TRIPS obligations by end of 1999 and is currently in the process of drafting revised legislation. Data exclusivity allows protection of the innovative products for limited market exclusivity compensates biotech companies’ investments in research and development.