By Natasha Darlington
Natasha Darlington is a fourth year student at the University of Warwick studying Law.
The legal procedure for granting patents as well as the exclusive rights placed on the patentee varies depending upon countries’ national laws and agreements. Whilst the frameworks vary, it is sure that the patent system has grown across the world. As stated by the World Intellectual Property Organization, the “number of patent applications has never been higher,” which has been supported by the “development of an ever-increasing range of technology.” As a result of its increased use, it is essential to discuss the emerging negative and positive issues relating to patents, which exercise a fundamental role in a number of fields including the biotechnology and the pharmaceutical industries.
The system of patents faces a number of major challenges including the actual operation of the system, issues regarding granting of patent protection to various forms of technology, and the long-term social and economic impact of the patent system. Given the rising issues within protection for intellectual property, it is necessary for lawmakers to strike a balance between promoting progress as well as finding what is best for the citizens of the nation.