Intellectual property encourages collaboration, R&D in developing economies

The USA-based Biotechnology Industry Organization (BIO) unveiled a report on the role of intellectual property rights in encouraging upstream research and development as well as downstream commercialization of biotechnology at the 2012 BIO International Convention.

“This report is further proof of the positive impact of intellectual property rights in both established and emerging economies, and will be a useful tool as we work with the many countries seeking to grow the biotechnology industry,” stated Joseph Damond, BIO senior vice president of international affairs, adding: “We felt it was important to provide empirical evidence and case studies for a more informed discussion on the role of intellectual property in global economic development and in commercializing innovative products for patients and other consumers.”

The report outlines how intellectual property rights and technology transfer mechanisms encourage collaboration and lead to the research and development of new biotechnologies, particularly in emerging and developing economies.