Page 64 - DMGT310_ENTREPRENEURSHIP_AND_SMALL_BUSINESS_MANAGEMENT

Unit 4: Legal Issues for Entrepreneur

Notes
Pfizer Loses Viagra Trademark Row
When Pfizer launched Viagra in China it could not use the popular Chinese equivalent
brand name ‘Wei Ge’ as the name was already registered by Guangzhou Viaman
Pharmaceutical Co. Ltd. (Viaman). Viaman had registered this brand name in 1998, when
Pfizer launched Viagra in the US. Viaman produced another ED drug by the name ‘Wei Ge’
containing the ingredient Phentolamine mesylate.
Outlook
Experts felt that the Chinese patent law and its market had matured considerably in a
relatively short span of time. However, they felt that China still was lagging behind in
providing a credible patent enforcement system. Experts were not too optimistic about
the impact of the ruling on Viagra’s global sales. Even with exclusive rights, Viagra’s sales
in China was not expected to change Viagra’s global sales significantly as the brand was
facing worldwide decline in sales and tough competition from Levitra and especially
Cialis.
Questions

1. What do you think about the pfizer battle for getting patented viagra? Comment.
2. Do you think law of patent should vary with regard to countries? Comment.
Source: Lall Madhurima, (2009), Entrepreneurship and Business Plan, Excel Books Pvt. Ltd.

4.4 Summary

Intellectual Property (IP) refers to creations of the mind: inventions, literary and artistic
works, and symbols, names, images, and designs used in commerce.
Among the Agreements of WTO, Trade Related Intellectual Property Rights (TRIPs) is of
special significance to the Entrepreneurs.
Copyright protection commences the moment a work is created, and its registration is
optional. However it is always advisable to obtain a registration for a better protection.

The objective of the Trade Marks Act, 1999 is to register trademarks applied for in the
country and to provide for better protection of trade mark for goods and services and also
to prevent fraudulent use of the mark.
According to Indian legislation governing Intellectual property rights all artistic, literary,
musical, dramatic works are comes within the purview of copyright but if it has to be used
in context with goods than a certificate concerning the same has to be obtained from the
Registrar of Trademarks.

Any confidential business information which provides an enterprise a competitive edge
may be considered a trade secret. So, a trade Secret is a formula, practice, process, design,
instrument, pattern, or compilation of information used by a business to obtain an
advantage over competitors or customers.

Patent law is one of the fastest growing fields of law, which deals with issues surrounding
the protection of ideas. By protecting the rights of the inventor, the government can be
sure that people will continue to think of unique and new ideas to share with the world.

In addition to the above legislative changes, the Government of India has taken several
measures to streamline and strengthen the intellectual property administration system in
the country.

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