Intellectual Property in the 21st Century - Part II
Most experts agree that pharmaceutical firms would not commit so many resources to developing new drugs if not for the privilege of being the sole producer for a number of profitable years. Drugs are generally far more costly and harder to access worldwide while they are under patent protection. However, without the patent, the drug may never have been discovered. The slow pace of innovation, especially the span of time from discovery to market, more than merits 20 years of protection.
