In conclusion, the BIA generally welcomes and supports the Commission s draft of the Directive, as it is currently drafted , although any weakening of the draft would put Europe at a further disadvantage and will shift the emphasis of research in biotechnology further towards the USA and Japan. A patent for an invention is a bargain between an inventor, or those sponsoring the inventor, and the state. The deal is that if the inventor publishes his or her invention in a patent so that it can be worked, and if the invention fulfils certain conditions, the state will give the inventor the legal right to stop others commercially benefiting from the invention. So patents encourage innovation, by offering the prospect of a reward for it. This reward, of commercial exclusivity, is necessary to encourage investors to fund expensive, long term and high-risk areas of research.
Patents also prevent others from using the invention for a limited period.
Just as copyright protects an author s work, so a patent protects an inventor. Both copyright and patents protect the fruits of creative ingenuity, whether artistic or technical. Normally patents are granted for 20 years from the date of filing and are available for all types of technology. Without the prospect of patent protection many research projects would not start. Patents are an essential prerequisite for investing in research and development.