Management of Intellectual Property Rights: A Focus on Biotechnology

The present paper talks about the role of Intellectual Property Rights (IPR) in an R&D system like Biotechnology and how it operates at a larger social, political, economic and technical platform to safeguard the noble ideas, inventions and research methodologies of an inventor. The Industries and Govt. believe that the IPR acts as a catalyst in Biotechnology inventions. However academic research suggests the role of IPR in stimulating innovation is not always certain and there may be opposite effect in some cases also. A detail on Intellectual Property management as an essential requirement has also been stated.