The Quest for Market Exclusivity in Biotechnology: Navigating the Patent Minefield

Abstract

A patent is a legal device that grants an inventor market exclusivity over a new invention or medication. Market exclusivity can mean tremendous economic rewards for the patent holder because it provides the inventor with a monopoly over the invention for the 20-year patent term. Obtaining a patent and retaining market exclusivity can be a treacherous process, especially in the arena of biotechnology patents. Scientific, legal, and practical considerations must be carefully weighed to best protect an inventor's rights. This article explores some common patenting pitfalls as well as emerging issues that are specific to the area of biotechnology patenting.