Innovation Asset Blog

Report: IP rights bring innovation, profits to biotechnology industry

Biotechnology firms have traditionally been among the most active patrons of the U.S. patent system, filing applications to protect initial ideas and issuing licenses to monetize inventions and further their development. The Biotechnology Industry Organization (BIO) has underscored the power of this relationship once again by quantifying the effects of intellectual property management at all levels of the research life cycle.

Emerging markets have often been viewed as the largest benefactors of patent-protected research and development trials, as the processes and products refined under established economies can be applied to dramatic effect in impoverished settings. However, BIO analysts contend that intellectual property rights and technology transfer mechanisms encourage the type of collaborations that are as fruitful for the supplier as they are for the end user.

"We felt it was important to provide empirical evidence and case studies for a more informed discussion on the role of intellectual property in global economic development and in commercializing innovative products for patients and other consumers," stated BIO senior vice president Joseph Damond.

According to Mass High Tech, the United States has been particularly successful in facilitating public-private partnerships, accounting for seven of the top 10 spots in the BIO's ranking of most active technology transfer regions. For example, the New England corridor held more than 5 percent of all global biotechnology patents during the 2000s.

Peter Ackerman

Peter Ackerman

Founder & CEO, Innovation Asset Group, Inc.