With approximately 4,600 employees, Chemtura is a leading global supplier of plastic additives, including flame retardants; a leading manufacturer of pool and spa products; a global leader in seed treatment and miticides in the agricultural market; the largest component supplier to the lubricants industry; and a top global producer of urethane polymers.
Defending Crop Protection Intellectual Property
Intellectual property (IP) protection is necessary to reward innovation and ensure that industries, especially agriculture, continue to evolve and grow.
Agricultural research has delivered great results over the last century, increasing yields and lifting millions of people out of poverty and hunger. CropLife America believes in the fundamental role of intellectual property in the promotion of agricultural research and innovation. Due to stringent regulatory approval from the development stage through the registration stage, the average time to bring each new product to the consumer market can exceed ten years. Therefore the crop protection industry could not contribute to future investment without patent protection; they protect the private origin of the technology.. This is as important for generic participants as it is for inventing companies as generic products directly result from the patented products original innovation.
As the globe shrinks and more agriculture becomes international, it is increasingly important that IP protection be consistent and implemented on a global scale. For developing nations especially a solid foundation of intellectual property rights can support the growth of domestic industry and increase foreign investment. Food production must increase by up to 50 percent to meet the nutritional needs of a world population expected to reach 9 billion by the year 2040. Consistent and adequate intellectual property protection is essential to the ongoing development of newer and more sophisticated products to better serve farmers’ needs and ultimately benefit consumers.