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Introduction:
World Intellectual Property Day, celebrated every April 26, provided us an opportunity to reflect upon the role of intellectual property (IP) in the ongoing health crisis and dedicate IP to finding a solution. The purpose of creating and recognising patent rights is for the common public good, i.e., innovation should be made public in exchange for a limited monopoly. Thus, patents need to be disclosed to the public in order to enable further research.
Body:
Patent rights are detrimental to society:
Covid-19 and patent rights – a use case:
Patents – roadblocks or solutions:
Way forward:
Conclusion:
Creation of a pool and immediate licensing will ensure that there are hundreds of manufacturers across the world. As a result, vaccines and medicines will be quickly available. Such a pool needs the cooperation of not just countries and international organizations but also the hundreds of researchers, innovators, companies and universities involved. Concerns relating to patents and profits to be earned therefrom should be put aside. The world has to come out of this crisis quickly and patents ought to accelerate rather than impede the path. Combating the crisis and earning collectively is the need of the hour.
By: Ziyaur Rahman ProfileResourcesReport error
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