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Bangalore, April 25 The innovation-driven biotechnology industry urgently needs a good IP (intellectual property) support system, according to speakers at a session on IP at the Bangalore Bio 2008.

The industry needs capacity building in the form of specialised IP courts, speedy dispensation of disputes; a proper documentation system; and judges and police officials sensitised towards IP issues. India should take urgent steps to build IP capacity, in particular in biotechnology, according to Mr Ravi Bhola, Head-Bangalore operations of IP consultancy firm K&S Partners.

There was an increased focus in the industry towards commercialising IPRs, said Ms Sushila Rao, Manager - IPR Department, Biocon Ltd. Indian companies were realising the need to profit from IPRs and their growth potential was high, she said.

Worldwide, only 10 per cent of all the patents granted in biotechnology have turned out to be blockbusters.

More Stories on : IPR | Events | Bio-tech & Genetics

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