Laboratory management of intellectual property in biotechnology

Abstract

Intellectual property (IP) rights refer to property rights in the intellectual creations of inventors and artists. Some IP rights are sanctioned by the Constitution as an economic incentive to stimulate innovation. Other intellectual property rights are judicially created to protect and promote ethical commercial activities. Societal benefits and costs are inherent to each. This paper reviews fundamental aspects of IP protection and the costs and benefits which inure to both the inventor and society. Practical guidelines will be provided for managing the day to day operations of a laboratory to maximize IP rights derived from research endeavors.