Juan Arias, a co-founder and managing partner of ABG Intellectual Property, delivered a presentation included in the subject “Identification of Therapeutic Targets” for the Francisco de Vitoria University‘s own degree, “Expert in Pharmaceutical Innovation,” which is connected to the third year of the Degree in Pharmacy.
The goal of the class was to teach students about the importance of intellectual property protection in the innovative pharmaceutical industry, so that scientific and technological advances can be transformed into real benefits for patients (in the form of medicines and treatments) and society (where industry and employment are generated).
During his presentation, Juan Arias focused on several key issues based on the fact that innovation protection is critical for pharmaceutical companies because it allows them to maintain a competitive advantage in the market and to recover the significant investment made in R&D, as well as to re-direct earnings into future research.
The also European Patent Attorney and Spanish Patent & Trademarks Agent specifically emphasised that patents are legal tools that offer holders temporary exclusivity, the prerequisites for an innovation to be protected through that legal figure, and how patent documents are structured.
The presenter also explained the differences between patent and trade secret protection, and how companies can choose between the two to protect their inventions, taking into account the benefits and drawbacks of each. He also covered patent infringement issues and how, if a freedom of operation (FTO) study is not conducted, corporations may infringe on the industrial property rights of others when developing their own inventions.
Subsequently Juan Arias class provided students at the University of Francisco de Vitoria with a clear and comprehensive understanding of the importance of intellectual property protection in the pharmaceutical industry, as well as the main characteristics of the patent system.