The patenting activities of innovative biotechnology firms

In Canada, innovative biotechnology firms invest large amounts to develop new biotechnology products and processes. In 2003, they invested nearly $1.5 billion in research and development (R&D). In biotechnology, the development process is long and costly, with no guarantee of success. Some firms that discover a new biotechnology product or process with potential industrial applications may want to protect it against any infringement. The patent is a tool preferred by innovative biotechnology firms to protect their invention. This short article describes the patenting activities of biotechnology firms in 2003 and examines the relationship between patents and funding.