Business Environment, 4th Edition by Pearson

784 | Chapter 26

The Patents (Amendment) Act, 1999, was expected to be ratified by the legislative

process that came into force, eectively from 1 January 2000. But public opinion, as

is expected, is sharply divided. There is an urgent need of spearheading a movement

towards the implementation of a national IP policy. India with its tremendous

potential of biodiversity and intellectual capital will have much to gain from the

well-administered patents system. The threat perception about an escalation in

pharmaceutical product prices is surely important from the short-term point of view,

but eective TRIPS will go a long way in bringing in foreign ...