Intellectual Property Rights

Abstract

Healthcare is one industry where intellectual property (IP) is a valuable resource. The creation of medications to meet medical requirements and the discovery of new therapies necessitate the preservation of inventions. Protection of scientific and technological advancements inspires researchers and the business community to develop new and improved treatments and medications, extending and improving people’s lives. Healthcare businesses may recoup their investments and continue to invest in fresh research because of IP protection. IP has raised the bar for medical and health research, and it will keep finding solutions to today’s unmet demands. As it supports the financing scheme for R&D, IP is a crucial cornerstone of our healthcare system. This article discusses that in a variety of industries, including the healthcare industry, IP is a valuable asset. It is imperative to safeguard ideas and discoveries to find new cures and create drugs to meet medical needs. Protection of scientific and technological advancements motivates researchers and the business community to discover new and improved treatment options and medications, thereby enabling people to live longer and better lives [1].