Patents are critical for the pharmaceutical business, as bringing a novel therapeutic medicine to market can cost up to $1 billion. There would be no new drugs if the patent system did not protect such investments. Patents and patent applications are especially significant to tiny biotech companies since they are frequently one of the few valuable assets that can be shown to potential investors when seeking funding.
Thousands of patents are submitted each month in the field of biotechnology, which is thriving with innovation. However, many specialties in this field, like human cloning, genetic editing, and animal testing, have ethical and moral issues. As a result, obtaining a patent in the biotech industry entails navigating a complicated maze of laws and regulations.
That’s why JOPAT and IIPTA have paired up to bring you this guide, where we look at all of the steps to get started as a patent analyst in the IP industry. From what it takes to become a patent professional to top job profiles and companies of intellectual property. Last but not least, you will learn how to become successful to prove your efforts are worthwhile.