PATENT LAW IN RELATION TO BIOTECHNOLOGY

A patent is an exclusive privilege given to an inventor that allows them to utilize their creation without hindrance from others for a period of 20 years. Given its enormous economic value, a patent can be regarded as one of the most significant types of intellectual property rights. The history of patents is extensive, and the laws governing them have changed throughout time based on societal needs, the pace of innovation, and the complexity of those innovations. The Patent Act, 1970, as amended by the Patents (Amendment) Act, 2005, and the Patents Act RULES, 2006, governs patent law in India. In addition to inspiring the development of several innovators and playing a significant part in enhancing the country’s health, biotechnology has emerged as a valuable instrument for many researchers. Biotechnology requires major expenditure and research; patenting biotech inventions is important in the current era. According to recent case law, biological elements or chemicals that are created in laboratories but previously unavailable in the natural environment have won the right to be patented. Thus, the Biotechnology Patents in India were developed in order to safeguard the inventor’s interests and rights to patentability. In India, the application and grant processes for biotechnology patents are drawn out and time-consuming.