Innovation Asset Blog

Pharmaceutical companies band together for intellectual property protection

Intellectual property discussions take high priority in the pharmaceutical industry as decisions affect not only business interests, but the health and safety of consumers. In an effort to address these concerns, the Pharmaceutical Industry Labor Management Association recently vowed to redouble its efforts for fraud prevention and intellectual property protection.

Within a unanimously adopted resolution, authors highlighted the merits of ongoing intellectual property preservation efforts being carried out by labor and industry leaders and called for expanded vigilance within those endeavors.

"PILMA will join ongoing collaborative efforts - both within the business community and the trade union movement - to protect our knowledge-based economy, innovation industries and affected U.S. workers by fighting intellectual property theft, counterfeiting and piracy at every level," the report stated.

Within the pharmaceutical interest group, ongoing advocacy efforts are being viewed as a key factor motivating Congressional leaders to take action and reform the U.S. patent system with the recently passed America Invents Act. PILMA is now expected to focus its efforts on the PROTECT IP Act, a proposed bill which could bolster enforcement efforts aimed at websites selling counterfeit medications.

Peter Ackerman

Peter Ackerman

Founder & CEO, Innovation Asset Group, Inc.