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Intellectual Property Rights Perspective of Patent in Indian Pharmaceutical Industry
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| Author:
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GOMASE V.S, KEMKAR K.R, POTNIS V.V.
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| Abstract:
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Over the past three decades, the Indian pharmaceutical industry has experienced consistent growth, making it a successful, high-technology sector. However, the liberalization of the Indian economy is revolutionizing Indian pharmaceutical industries as they begin to emerge from domestic markets and prepare for international competition. The current industry players consist of several privately owned Indian companies that have captured a substantial share of the domestic pharmaceutical market. As India opens its markets to international trade, the pharmaceutical industry in India is a prime example of one that is being forced to revaluate its long-term strategies and business models. Factors, for example, security of protected innovation are expanding in importance because of the developing acknowledgment of the need to guarantee assurance of significant interests in innovative work (Research and development). The Indian government is moving toward establishing a patent regime that is conducive to technological advancement and is in accordance with its global commitments. In addition, efforts are being made in India to reduce issues with the weak enforceability of existing intellectual property laws.
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| Keyword:
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Jurisprudence, Patents, Intellectual Property Rights, Pharmaceutical Industry, TRIPS
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| EOI:
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| DOI:
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https://doi.org/10.31838/ijpr/2023.15.01.013
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| Download:
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