Patent Protection and Raw Materials: The Convention on Biological Diversity and its Implications for U.S. Policy on the Development and Commercialization of Biotechnology
![handle is hein.journals/upjiel15 and id is 311 raw text is: COMMENT
PATENT PROTECTION AND RAW MATERIALS:
THE CONVENTION ON BIOLOGICAL
DIVERSITY AND ITS IMPLICATIONS
FOR U.S. POLICY ON THE DEVELOPMENT AND
COMMERCIALIZATION OF BIOTECHNOLOGY
CHERYL D. HARDY*
1. INTRODUCTION
As the United States seeks to maintain its edge in an
increasingly competitive and integrated world economy,
biotechnology has become one of its most promising
industries.' While there may be a consensus that the U.S.
biotechnology industry has a great potential for profit and
expansion,' the industry (still in its infancy)' is plagued with
problems. For instance, it is difficult to apply existing patent
laws to this technology, and this phenomenon has threatened
even the most promising companies in the industry.4 Fears
J.D. Candidate, 1994, University of Pennsylvania Law School; B.A.,
1983, Temple University. I wish to thank my family and my husband,
Willie L. Hardy, Jr., for their love and support. Also, this Comment is
dedicated in loving memory of my parents.
See U.S. CONGRESS, OFFICE OF TECHNOLOGY ASSESSMENT,
BIOTECHNOLOGY IN A GLOBAL ECONOMY 19 (1991) [hereinafter OTA-
BIOTECHNOLOGY REPORT] (asserting that by many measures the United
States is a preeminent force in biotechnology).
' See Ronald E. Yates, Biotechnology Blossoms But Rivals Gaining on
U.S., CHI. TRIB., Oct. 4, 1992, at C1 (noting that biotechnology is the child
prodigy of the business world); JOHN NAISBITr & PATRICIA ABURDENE,
MEGATRENDS 2000: TEN NEW DIRECTIONS FOR THE 1990'S 262 (1990)
(stating the United States is a world leader in terms of biotechnology
investment and sales).
3 See NAISBITT & ABURDENE, supra note 2, at 242-43 (providing an
overview of the rapidly changing biotechnology industry and the
implications for future technological developments).
' For example, patent litigation caused tremendous fiscal loss to Genetics
Institute, resulting in a fall in its stock price and the sale of a 60% stake in
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