Essay On Professional Ethics And Responsibility

Some how They are above copy write and patent law; that states that an individual/company can hold exclusive rights for only three years to regain research and development costs and make some profit. This was established so companies/individuals could not establish a monopoly on a product/service letting them completely control the market price. This is some thing that in the rest of the civilized democratic countries is not allowed and drug are part of the free market system. An example of this would be in Canada the same U.S. Company sells its drugs cheaper to compete with prices in the open market and in the U.S. they charge more money because of their monopoly on the drug.

Economic: Globalization of the pharmaceutical industry is an exciting opportunity to have research and development done at cheaper prices in other countries. However, this could be a double edged sword for companies because it is easy for other countries, such as India, to produce generic versions of the drug in bulk.

Pharmaceutical companies are provided with temporary monopoly rights on the production of new drugs which result in a higher cost on consumers. If competing companies were allowed to produce generic forms of those drugs, consumers will be able to afford those medications even in cases where those consumers have no insurance coverage. The company responsible for developing and inventing the original medication could be offered incentives to invent in the future by either obtaining tax breaks or NIH funding for future research. They could even be offered a percentage of the sales of the generic drugs. Economist Gary S. Becker advocates dropping many FDA requirements that, in his opinion, provide no additional safety measures but rather delay the development of new drugs.[12] Betamethasone, for example, has been part of the standard prenatal care in Europe since the late 1970’s while it got adopted in the U.S. after 1997. On many occasions, the FDA ignores all scientific evidence concerning certain drugs because the manufacturer did not follow their mandated bureaucratic standards.

Under TRIPS, until a pharmaceutical patent is actually granted, a country has no obligation to protect potential prospective rights (during the pendency of the

Evidently, both the EU and the U.S. enacted special provisions legislative, which extended the pharmaceuticals patents' life. As is the case with America, the Waxman-Hatch Act increased the copyright protection based on name-brand drugs with up to five years, but still it also puts

Intellectual property protects legal rights and ownership in the market place through ‘intellectual property rights’. This can include trademarks, copyright, industrial design and patens. These protect brand names, designs and inventions.

Intellectual property is a broad term that is used to refer to the rights that the owner of an invention or an artwork enjoys. An example of intellectual property law is the Trade Related Aspect of Intellectual Property Rights (TRIPs), which gives individual rights such as patent, designs, and trademark. Intellectual property is contained in the Article 2(viii) of the convention, which led the establishment of the World Intellectual Property Organization (WIPO). Literary works, inventions, discoveries, trademarks, and industrial designs are among the rights that are provided in WIPO. Intellectual property in Australia has a strong judicial support.

In the Apollo Group stimulation, “Addressing international legal and ethical issues” (2004), CadMex and Gentura have a pharmaceutical drug partnership located in Candore. The partnership specifies contracts for International Sale of Goods as a choice of law and International Arbitration to solve disputes. Later an outbreak of a viral infection creates a health emergency in Candore, and the Candorean government places threat to suspend the ViroBlax drug patent. If CadMex refuses to provide sublicensing of ViroBlax, the Candorean government will suspend CadMex’s patent on ViroBlax and provide compulsory licenses for domestic manufacture of generic ViroBlax. According to “World Trade Organization” (2012), “compulsory licensing is when a government allows someone else to produce the patented product or process without the consent of the patent owner. It is one of the flexibilities on patent protection included in the WTO’s agreement on intellectual property” (What is compulsory licensing?). Sublicensing will take time and money to ensure the other pharmaceutical companies meet CadMex standards, and production requirements. However allowing sublicensing will preclude the need to suspend the patent and CadMex will still receive royalty payments due as

Intellectual property represents ideas created by minds of humans that require certain rights for their use. Intellectual property gives companies a competitive advantage and attracts the attention of other business partners and investors (Lee, 2016). With such importance, it is necessary for the law to protect these ideas from being used by unauthorized individuals. To shield from this, trade secrets, patents, and copyrights are used to protect the ownership of intellectual property (Legal Information Institute).

How does professional ethic play a role in the IT industry? How does the ACM code of ethics help set out the expectations of the professional’s behavior? Is a whistle-blowing morally permissible in some cases even if trust has been violated? In answering these questions, the paper will dive deeply into the definitions of professional ethics, trust, and ACM code of Ethics. Next, is the examination of De George’s model and how it applies to professional ethics and the analysis of a recent case involving Edward Snowden, an ex-NSA employee, who intentionally leaked sensitive US-government information.

The increasing acceptance of the intellectual property laws by the public culture is somehow related to the ideals of property, control and fear that the benefits from resources out of control may not be significant.

Becoming increasingly harder to launch a new drug onto the market because of the regulations

The concept of product patent for pharmaceutical products is likely to make life saving medicine beyond the reach of the poor and deprived section of the society around the world.

According to Wikipedia, Intellectual property is the legal term that refers to the creation of minds, such as inventors, music, literature, artistic works, words, phrases, symbol and designs. Under intellectual property law, the owner of intellectual property is granted certain exclusive rights.

As per the main TRIPS Agreement the government of the country where the patent is registered was allowed to authorize the supply of the product only for domestic market without the consent of the patent owner. Amendment to the TRIPS agreement introduced the compulsory license exception, which allows countries to allow production and sale of patented pharmaceutical products to least developed countries, and to countries that requested the application of compulsory license exception, without the patent holder’s consent.