BWI: Now is the Time for India to Realise IPR Values – Panelists at Bangalore Bio 2009

Press release from Business Wire India
Source: Bangalore Bio 2009
Saturday, June 20, 2009 07:55 PM IST (02:25 PM GMT)
Editors: General: Economy, People; Business: Advertising, PR & marketing, Business services, Healthcare, biotechnology & pharmaceutical, Information technology; Technology; Healthcare
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Now is the Time for India to Realise IPR Values - Panelists at Bangalore Bio 2009


Bangalore, Karnataka, India, Saturday, June 20, 2009 -- (Business Wire India) -- Panelists at the session on " IP Management, Licensing and Valuation" on the final day of Bangalore Bio 2009 opined that India has just entered a phase of not only filing more and more IPRs, but also realising the true values of IPs. According to them: India has unparalleled opportunity in commercialising IPRs. Most of the hurdles in India in realizing the true potential of IPs are self imposed and avoidable. There should a change in seeing the science from technology perspective to commerce perspective. Experience of the people who are filing IPRs is not up to the mark. Industry should build capacity to generate more IPs from business point of view than scientists' perspective. The walls between IP management offices and scientists should go.

Chairing the session, Mr. Deepam Mishra, CRO, 12 India Ventures, said, "Commercial focus of filing IPRs is increasing in the past few years. But so far, entrepreneurial interest is still dominated by service revenues than income from IPRs. Practices here are not really evolved and the technology is not really looked from the backdrop of making money from that, as most of the research is still done in government institutes. Scientists' view of IP cells not really effective should change. As the IPs in India are being generated at the very early stage even before validating. But, when there is sufficient value is generated it is easy to pursue IPs more effectively. There are not enough mentors to guide entrepreneurs in commercializing IPRs"

Mr R Muralidharan, Partner, Krishna & Saurastri, said, "In evaluating IP, timing is the most important factor. Credibility and veracity of IP value claims is often questioned, as they are mere gestimations, not even fair estimations. Possibility of compulsory licensing and Notification of a patent in the public interest, charges of inequitable conduct are some of the issues that come in the way of evaluation. Patent, trademark, copyright, designs are some of the IPs India is well-versed with. Now in the case of drug discovery companies, innovative processes as well as products are IPs. In stead of working for a single powerful IP, generating many IPs in a company fetches more wealth in the long term.

Mr. Philips Mendes, Innovation Law, Australia, said, "Licensor and Licensee need to focus more on their respective interests instead of positions. Never dive into a negotiation, you may deny many opportunities to prepare thoroughly. Information shared and gathered plays crucial role in licening and true value realization by both the parties."

Ms. Teresa Stanek Rea, Partner, Crowell& Moring LLP, US, said, "IPs comprise of some of the most valuable assets of today's economy. Only 2% of all the patents in the world are generating values. So there is a need to commercialise many IPs. Exclusive values, options value, defensive value, trading value are some of the values the inventors should look into. Value really comes from worth, price, transacted price, estimated price, and estimated worth. Maintenance of IP, licensing agreements, court decisions, nature of claims, degree of non-obviousness, referencing of prior art, and non-disclosure agreements effect the valuation of the IPs."

Ms. Alison Dennis, partner, Field Fischer Waterhouse, UK, said, "Issues that effect licensing deals are regulation, consolidation, risk aversion by funders, downward pricing pressure. But the desire of big pharma companies to acquire products is a opportunity for small drug discovery firms. Marketing authorization, and pricing are some of the hurdles to take a product to market. "

Mr. Mike Halliday, Partner, David Begg Associates, UK, said, "Europe works as a single entity when it comes to IPRs and it provides an opportunity for Indian companies to enter. If Indian pharma companies want to sell their medicines in Europe, they need to comply with many regulations and they need to hire a QP (qualified person) for this purpose. "


CONTACT DETAILS
Rajiv Shankar, Equator Communications, +919880893823, rajiv@equatorpr.net
Amit Jain, Equator Communications, +9198860 62866, amit@equatorpr.net

KEYWORDS
ECONOMY, PEOPLE, MARKETING, BUSINESS SERVICES, HEALTHCARE, IT, TECHNOLOGY, HEALTHCARE

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