Agricultural News
BIO Commends Supreme Court's Support for Continued Biotech Innovation
Mon, 13 May 2013 15:08:34 CDT
Jim Greenwood, president and CEO of the Biotechnology Industry Organization (BIO) today issued the following statement regarding the United States Supreme Court's ruling in the case of Bowman v. Monsanto:
"The Biotechnology Industry Organization welcomes today's unanimous Supreme Court decision in Bowman v. Monsanto, in which the Court confirms that biotechnology seed is entitled to the same protections as other inventions under the patent law.
"The ruling not only answers an important question about patent infringement by planting patented genetically engineered seeds, but also confirms the legitimacy of long-established patent licensing practices in all areas of BIO's membership. As such, the Supreme Court's commitment to uphold valid intellectual property rights in this case creates business certainty that will benefit all of biotechnology - as well as the patients, farmers, and consumers who benefit from biotechnology's help in healing, feeding, and fueling the world.
"Intellectual property is one of the most influential factors in creating innovation - in any sector. This decision is thus an important signal to the biotechnology industry, which relies heavily on the validity of patents to generate investment. The U.S. patent system is the strongest in the world. It promotes innovation by facilitating the investment necessary for small businesses to form and grow, and for more established businesses to continue competing and thriving in an increasingly competitive global marketplace.
"Our patent system helps ensure that the United States can continue to reap the benefit of innovation and advances in biotechnology, an industry the U.S. has created and led, and that creates jobs and growth opportunities in every state and every sector of our economy."
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