Is the TRIPS Waiver helping or hurting innovation?
Innovation is to thank for many of the medicines, treatments, and technologies that help save lives and save the world on a daily basis. From insulin to water treatment, there are innovations everywhere that help make the world a better place.
This last year has certainly been one that no one could have seen coming. Intellectual property has played an integral role in the technology used to protect, treat and prevent Covid-19. Patent protection of innovation is typically a standard part of the innovation lifecycle. But, should that be the case during a pandemic or should the “typical” processes be waived for the better of the world.
A hot topic of the moment is the petition by South Africa and India at the World Trade Organization (WTO) to waive most of the protections in the Trade-Related Aspects of Intellectual Property Rights Agreement (TRIPS Waiver) and whether this is helping or hurting innovation. During this on-demand webinar, we dive into this topic and provide more context based on the deep insight provided by the patent analytics available in LexisNexis® PatentSight®.
In this webinar, we discussed:
- The R&D regarding vaccination has been an ongoing process – you can see the correlation in patent filing statistics with the different virus outbreaks of previous years.
- How patent analytics can provide insight into where a company is focusing their innovations even before they announce the innovations.
- The patent data shows that prior to the Covid-19 outbreak, patents related to SARS and MERS vaccines, mRNA vaccines, and spike protein-based vaccines were already being developed.
- The TRIPS Waiver pros and cons, is it more helpful or harmful to innovation?