Innovative Key to Product Patent in Pharmaceutical Industry : Intellectual Property

Intellectual Property means those creations of the legal mind in relation to which the state confers upon individuals a statutory monopoly for a prescribed term to prevent their unauthorised exploitation and Patent is nothing but the Intellectual property. A patent is an exclusive right awarded to an inventor of a product or process, which prevents others from making, selling, distributing, importing or using the invention, without licence or authorization, for a fixed period of time. A patent claim relating to a pharmaceutical product may relate to an active ingredient as such independently of or jointly with formulations, salts, prodrugs, isomers, etc., or cover any of these subject matters separately. It may also solely cover a manufacturing process or include both a process and a product.