In light of the current COVID-19 health crisis, it is an apt moment to highlight the importance of intellectual property.
Intellectual and industrial property, among others, allow us to turn ideas into concrete projects that create value, wealth, jobs, and cover unmet medical needs. Above all, intellectual property serves as a basis for societal progress in all aspects: economic, cultural, human, and, of course, healthcare-related.
Intellectual property is the main means of protection and incentive for R+D. Without adequate protection of intellectual property, there would be no incentives or resources to fund costly, long-term research with its inherent risks and uncertainties. Access to innovative medicines and the health of patients depend on this protection.
The incentive of intellectual property has resulted in major healthcare advances, eradicating disease, prolonging the lives of patients in areas like oncology, and improving their quality of life. It is also the impetus behind the development of the antiviral treatments and vaccines used to fight today’s pandemic, and further research is currently being conducted on more than 300 treatments and 200 vaccines. Decades of investigation have made it possible to tap into this scientific expertise and access treatments and vaccines, against COVID-19, for example.
The commitment to intellectual property rights must be stronger than ever now that we are direct witnesses to the value that technological and scientific innovation and development can bring to society. If we maintain the spirit of public-private collaboration that has proven successful in the current pandemic, we will be very well positioned as an innovative country.
This post is also available in: Spanish