The Push for the Free Transfer of IP Rights in Medical Biotechnology

Abstract

Abstract Biotechnology is a broad range of technologies that employ living organisms or parts of them to make diverse products. Biotechnology, within the American bioeconomy, is a growing topic of concern with recent investments to help address infectious diseases, food security, and energy security. From vaccine development to comprehensive DNA mapping, the medical biotechnological industry is rapidly expanding at the forefront of technological advancement. The evolution of biotechnology as it is known today began in the 1980s with the commercialization of biotech products. The future of biotechnology is bright with scientific breakthroughs, government incentive offerings, cost-effective research and development, and therapeutic advancements to cure medical conditions that currently have inadequate or no inaccessible therapies.