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

Abstract

Biotechnology and intellectual property are twoareas that have played a significant role in the transformation ofresearch. Intellectual property is generally regarded as animportant driver of innovation in science and technology, as itallows researchers, institutions, and inventors to recover theirinvestments during the period of monopoly rights. The patentsystem encourages innovation by providing patent protection toinventions as well as distributing useful information. Researchersat universities increased their use of patents as sources ofinformation and as a significant tool contributing to the economicprogress of society. Patents have become as important as scientificpapers, especially when assessing the impact of research on societyand the economy. Since today it is expected from the Universitiesnot only to engage in research and teaching but also to makemoney from the knowledge produced. From the collaboration ofresearch institutions and interested companies, Spinoff companieshave been formed, as a form of connecting academic researchersand the private sector. New ways of promoting inventions are fullyin line with the patent protection system. Therefore, patent law isa key factor in the development of innovative technology andprovides investment in further research that is imperative ofmodern societies.