Patenting the results of university research with special reference to biotechnology research

Abstract

Biotechnology and intellectual property are two
areas that have played a significant role in the transformation of
research. Intellectual property is generally regarded as an
important driver of innovation in science and technology, as it
allows researchers, institutions, and inventors to recover their
investments during the period of monopoly rights. The patent
system encourages innovation by providing patent protection to
inventions as well as distributing useful information. Researchers
at universities increased their use of patents as sources of
information and as a significant tool contributing to the economic
progress of society. Patents have become as important as scientific
papers, especially when assessing the impact of research on society
and the economy. Since today it is expected from the Universities
not only to engage in research and teaching but also to make
money from the knowledge produced. From the collaboration of
research institutions and interested companies, Spinoff companies
have been formed, as a form of connecting academic researchers
and the private sector. New ways of promoting inventions are fully
in line with the patent protection system. Therefore, patent law is
a key factor in the development of innovative technology and
provides investment in further research that is imperative of
modern societies.