The ongoing COVID-19 pandemic is the most critical global health challenge of this decade. The disease has spread swiftly across countries leaving scientists and doctors stunned before coming up with any solutions. Government and private sector pharmaceutical companies have set on the expedition to find treatment and prevention methods to stop and control the spread of the virus.
There is an intangible fear amid them regarding the security and proper use of their inventions. The huge competition has also made the companies frantically file for patents on any invention related to COVID-19. There is loads of fake news about COVID-19 circulating among the public, causing unwanted panic.
The Korean Intellectual Property Office (KIPO) in South Korea has addressed the legal worries of the pharmaceutical sector and has launched a website ‘Patent Information Navigation System’ offering quick patent screening and latest factual information regarding drugs, diagnostic methods, and tools used in COVID-19 treatment.
KIPO’s Patent Information Navigation System
The online tracking system was launched on 19 March 2020 focusing mainly on providing information about both domestic and international patents filed on COVID-19:
– Face-mask technologies involved in the prevention;
– Diagnostic testing tools, kits, and equipment;
– Vaccine and treatment.
The system also actively keeps track of information on products such as sanitizing equipment, hazmat suits, protective gloves, visual body heat monitors, face masks, and diagnostic kits.
This Patent Information Navigation System also contains information targeting COVID-19 innovations and equipment that are being developed and marketed in China, Japan, Europe, and the U.S.
This pool of factual data will be shared with manufacturing companies working on combating the outbreak. It is of great support to Government agencies that are in the process of reviewing already patented technologies that might be useful in this scenario and activating compulsory licenses on them.
This system is a blessing to the confused public. It keeps them informed about all cheap-quality personal hygiene products that don’t offer protection from the virus. It also gives accurate information keeping a full stop to all fake claims of finding a cure to COVID-19.
Hyun Jae-Yong an official in Korean Intellectual Property Office in an interview with Bloomberg mentioned, “The main purpose of this service is to provide information to companies so that they can quickly create goods to respond to the Coronavirus. The goal is to help domestic companies understand as much technical information as possible. We thought it was important to deliver fact-based information for companies, but also for people who are anxious about Coronavirus. We’re going to focus on delivering the right information to the public.”
KIPO’s Other Active Measures
KIPO is earnestly bringing changes in its policies, making it easier for researchers and manufacturing companies working to find cure and prevention strategies for the novel Coronavirus strain. The Office is prioritizing the screening of COVID-19 related patent applications. They are also planning on waiving off application fee for such patents.
KIPO and Korean banks have partnered to provide collateral loans for Intellectual property of up to $3900 approximately to companies working on innovation and inventions on the diagnosis, treatment, prevention, and control of COVID-19. The firms might also put off the payment of patent maintenance fee at this time.
The Patent Information Navigation System is a note-worthy effort by KIPO in this grave situation. The Korean Intellectual Patent Office has set an example to the world through its thoughtful measures on reducing patenting difficulties to researchers and companies in light of the COVID-19 outbreak. Their initiatives to create awareness on quality hygiene products and fake claims among people are commendable. Please find more such interesting posts here.
