An Intellectual Property Assignment and License Agreement is a distinctive agreement whereby 1 party, the assignor, transfers to one more party, the assignee, rights to their intellectual property, be it in a copyright, trademark, or patent, in exchange for valuable consideration, and in exchange for the assignee assigning back to the assignor a license to use the intellectual property. Thus, in such an arrangement, ownership to the intellectual property rights has been transferred, but the assigning party is still able to use the copyright, trademark, or patent, topic to the terms and conditions of the agreement. Unless stated otherwise, the rights, for the duration of the license at least, are thus non-exclusive, as both parties have the right to use property. Due to the fact the arrangement is so distinctive, a … Read entire article »

Developed from experience gained over the centuries and adapted to the local culture and environment, Traditional Knowledge/Traditional medicinal practices were transmitted orally from generation to generation. It tends to be collectively owned and takes the form of stories, songs, folklore, proverbs etc. attached to cultural values, beliefs, rituals, community laws and local language. Research in Traditional Medicines shall be encouraged for the better understanding of the mechanism of action of drugs being used, chemical reactions happening during its processing by the body, active principles responsible for the particular action of the drug and the identification of the molecules responsible for toxicity reduction etc. The potential portfolios of research include standardization of various drugs, modifications in the ‘form’ and ‘route’ of drug administration, enhancement of shelf-life of the drug, quality standards of … Read entire article »