The Time is now to address Brazil ’s notorious patent backlog

It has been widely acknowledged that long patent examination delays cripple innovation, hinder economies, impede job creation and frustrate the launch of new products. Increased patent review times costs the global economy$10 billion annually, and is particularly harmful forsmall start-up firms.Every year of delay reduces the start-up ’s employment growth by 21% and sales growth by 28% over the five years following the approval of the patent application. No country should accept the delayed launch of innovative technology or life-saving treatments because its patent office is plagued by long examination timelines and backlogs.
Source: The Catalyst - Category: Pharmaceuticals Authors: Tags: Patents Intellectual Property Source Type: news