Patent Pools: Opportunities for Innovation and Access to Essential Medicine for Under-Served Populations in the 21st Century
Author(s): Mohd Kaif, Akanksha Verma*, Mukesh Kumar Dudi, Sachin Yadav and Deepak Kumar Chauhan
Abstract
Patent pools have been employed in a range of industries for a variety of reasons, and they have resulted in a number of benefits for patent holders as well as the industry at large. As a result, using patent pools to encourage access to technology is not a novel concept. Patent pools lessen the risks associated with implementing patented technologies while also reducing the time and money associated with individual licence negotiations. Patent pools have historically been employed successfully in information technology, consumer electronics, and other industries with a large number of patents. However, they may not be as suitable for the pharmaceutical and biotechnology industries. The purpose of this study is to give a thorough examination of the efficacy of patent pools and other methods of collaboration for boosting innovation and access to important medications in poor nations. The specific objectives of the paper include an examination of the legal and regulatory framework governing patent pools and other collaborative mechanisms in various countries and regions, identification of the potential advantages of these mechanisms, analysis of their drawbacks and challenges, lastly, formulation of recommendations for policymakers, pharmaceutical companies, and other stakeholders on how to design and implement these mechanisms.
