The Economics of Biotechnology & Intellectual Property Rights
by H.H. Chartrand
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Ultimately the biotechnology sector rests on the legal foundation of intellectual property rights (IPRs). It is ‘fueled’ by new knowledge generated, for example, by biotech ‘star’ innovators (Zucker et al 1998) that then becomes economic property through the agency of IPRs and thereby provides the legal foundation for the industrial organization of the sector.
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