The pharmaceutical industry is a notable, significant contributor to the United States economy. Of note, it accounts for nearly 50 percent of the world’s pharmaceutical sales revenue and approximately 22 percent of the world’s pharmaceutical production. In holding such major credibility, some major laws that regulate this industry. More specifically, major intellectual property laws are in effect. With that being said, continue reading to learn how intellectual property applies to the pharmaceutical industry and how an experienced New Jersey trademark lawyer or copyright lawyer at The Ingber Law Firm can help you navigate your legal rights in this field.
How is intellectual property important in the pharmaceutical industry?
You must understand that trademark and copyright laws heavily affect the pharmaceutical industry. On the one hand, trademark laws are meant to establish and protect brands within the competitive industry. For example, AstraZeneca holds a trademark for the brand name Nexium, along with the heartburn medication’s unique purple and gold color combination and its slogan “The Purple Pill.” Now, this trademark does its standard job of helping prospective consumers differentiate from one drug product to another without confusion, all while forming their trust and loyalty toward a certain product. However, this trademark may also go above and beyond to ensure the safety of prospective consumers, otherwise known as patients. This is because the Food and Drug Administration (FDA) may play a hand in these intellectual property regulations.
On the other hand, copyright laws are meant to establish and protect creative works and research within the competitive industry. For example, AstraZeneca may hold a copyright for the literature, packaging design, website, software, and marketing materials it uses for its Nexium brand. This may mean that an AstraZeneca employee may need permission from the company before sharing these specific materials with an external third party, along with the research behind what makes this drug effective. Again, from a public health perspective, the FDA finds that such patient educational tools must be barred from external, unauthorized use.
What happens if there is infringement in the pharmaceutical industry?
To reiterate, pharmaceuticals is a powerful, trillion-dollar industry in the United States. This is to say that you do not want to find yourself in trouble with this industry whatsoever. That is, if a pharmaceutical company is under the belief that you have infringed upon one of its trademark or copyright rights, they may not hesitate to pursue legal action against you in federal court. You can suffer great financial losses, not to mention reputational damage in this important industry, as a result.
Now that you have this background knowledge, your next step should be to employ a skilled Essex County, New Jersey intellectual property lawyer to represent you. Please get in touch with The Ingber Law Firm today.
