Chemistry and Life science sectors are gaining importance over past few years. Lot of new chemical entities and many new technological inventions have been developed in Life science and Biotechnology as a result competition has increased tremendously. Biotechnology is a field where technology advancement is very quick, investment is high but return benefits are very minimal and slow. Therefore, it has been very challenging to properly protect inventions and other innovation-oriented achievements in these fields. Many aspects make these fields different and probably harder to protect then general inventions on more traditional fields, such as mechanics or chemistry.
There are different types of IP created by chemical and life science sector such as vaccines, seeds, plants, medical devices and software, brands and domain names. Most of these different assets can be protected by more than one form of IP protection. In the biotechnology, patents are most relevant IP’s but other forms are also applicable and used extensively.