What are Intellectual Property Rights (IPR) and how does Venus manage and protect its intellectual property?
Intellectual Property Rights (IPR) are legal protections granted to creations of the human mind, such as inventions, designs, symbols, names, images, and artistic works. These rights encourage innovation by providing creators and inventors with exclusive control over the use and commercialization of their work. The four main types of IPR include:
Patents: Protect inventions by granting the inventor exclusive rights to produce, use, and sell the invention for a specified period.
Trademarks: Protect symbols, words, phrases, or designs that identify and distinguish the source of goods or services.
Copyrights: Protect original works of authorship, including literature, music, and art, ensuring that creators maintain control over their work.
Trade Secrets: Protect confidential business information, such as formulas or processes, that provide a competitive advantage.
At Venus, the in-house Intellectual Property (IP) department plays a crucial role in safeguarding our innovations and research. Our IP division specializes in the strategic planning and management of patents, trademarks, and copyrights. This includes preparing and filing applications, managing patent portfolios, and protecting our intellectual assets globally. The department works closely with our legal team to handle IP-related litigation and ensure that our intellectual property rights are upheld.
One of the key functions of our IP department is to act as a business facilitator between Research & Development (R&D) and the corporate world. This ensures that our patent-protected research products are commercialized effectively.
With over 100 patents, 80 trademarks, and 12 copyrights, Venus remains at the forefront of innovation in the pharmaceutical industry, creating genuine and original products while ensuring that our intellectual property contributes to both revenue generation and the advancement of medical science.
Through our in-house IP management, we are able to protect the value of our innovations, reward our inventors, and contribute to a future built on genuine research and development.
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