BIOTECHNOLOGICAL INNOVATIONS PATENT: A REVIEW

This article evaluates patent protection as an incentive mechanism for biotechnology innovation in India, Recent enhancements to India's patent laws, a new acceptance of biotechnology patents. It analyses the international patenting trends, patents that have significant impact and countries active in patenting. It also examines Indian patenting activity and its comparison with international trends to assess the Indian efforts. The patentability of products is essential in the biotechnology field, for limited market exclusivity compensates biotech companies' investments in research and development. The biotechnology field also uniquely faces Federal Drug Administration (FDA) approval, which includes considerable additional expense and time issues a biotech company must address.