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Free Example of Intellectual Property Essay

Intellectual property refers to the temporarily assigned exclusive rights as well as the private property rights of the authors for the results of intellectual activity or means of individualization. Legislation that defines the rights to intellectual property establishes a monopoly of the owner on certain uses of the results of his/her intellectual and creative activity, which thus cannot be used by others.

It is very important to always make researches and be first in the industry with better products for customers. Being the first means being more profitable and innovative. Pharmacy industry is the one where new research means more healthy people and healthier nation. Every new preparation is the new opportunity to treat more people and therefore to receive higher profits. Nowadays, pharmaceutical industry is one of the most compatible. Every company is searching for new medicine, otherwise it is very expansive to organise research groups. Therefore, sometimes companies practise fraud. In order to protect intellectual property, the company should sign special contract with Dr. Joe Scientist. This contact should contain at least two specific points about the prohibition of new components that were discovered by him and dissemination. The first point should be about the strict legal prohibition of the information usage, this means that if Dr. Scientist shares with the other company his findings, he would be responsible for law offence and would need to pay huge compensation as a penalty. Also, Dr. Joe should know that any pills with such components would be distributed by the other firm, which would give 80% of profit to the company where Dr. Joe discovered them. This is the best way to exclude the opportunity of sharing new components by Dr. Scientist.

Discussion of intelligent rights adherence is a very huge problem of pharmacy industry. Therefore, this problem was arisen and developed in the article “Intellectual property protection and the pharmaceutical industry” where intellectual property rights were discussed in pharmacy industry. The topic of intellectual property protection was also discussed in the articles “Challenges for intellectual property management of HIV vaccine-related research and development” and “The pharmaceutical industry and world intellectual property standards”.

Code: Sample20

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