Brazil Reduces the Term of Several Medical Device and Pharma Patents
shot by IP News Shots / 6:41 pm on 14 May, 2021
The Brazilian Supreme Court has released a landmark ruling that a debatable provision of the nation’s patent law, which guarantees a minimum 10-year post-issuance term was not constitutional. The court has now decided which rights will lose protection after the ruling.
Australia Introduces ‘Patent-Box’ Scheme in Budget 2021
shot by IP News Shots / 6:58 pm on 12 May, 2021
In its Budget 2021 presentation, Australia has introduced the “Patent-Box” Scheme mainly for the development of medical and biotechnology arenas in the country. The scheme is set to be implemented from the 1st of July, 2022. The patents applied for after the budget announcement will be eligible for the scheme.
The South Korean Ministry of Trade, Industry and Energy reportedly announced that the Samsung Group is all set to make hundreds of its patents royalty-free and available for use within the country. The move by the technology company is known to be aimed at boosting domestic economic growth. The exact list of patents that will be made available for free use is yet to be known.
Germany Opposes US’ Decision to Back Patent Waiver for COVID-19 Vaccines
shot by IP News Shots / 7:16 pm on 10 May, 2021
The German government has said that while they were in favor of global accessibility for COVID-19 vaccines, they did not believe that the IP, especially patents, were the main constraints in the production. As a result, Germany rejected the US’ decision to back the patent waiver for the vaccines.
Russian President Backs COVID-19 Vaccine Patent Waiver Proposal
shot by IP News Shots / 7:07 pm on 07 May, 2021
The Russian President, Vladimir Putin, has expressed that he supports the proposal for a waiver on patents for the COVID-19 vaccines. The leader asserted that it is important to ensure the safety of the people rather than extracting maximum profits for the pharmaceutical companies.
US to Back COVID-19 Vaccine Patent Waiver Proposal
shot by IP News Shots / 7:13 pm on 06 May, 2021
The US administration headed by President Joe Biden has decided to back the proposal to waive off global patent rights for the COVID-19 vaccines for the duration of the pandemic. While the liberals have welcomed the decision and deemed it necessary to speed up the fight against the virus, the pharmaceutical industry has warned that the decision may have devastating effects on the production of vaccines.
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