In response to news reports in the Brazilian media,
Monsanto Company
(NYSE: MON) said today that it has multiple patents on its
Roundup Ready soybean technology and it is taking steps to
have these patents clarified through the Brazilian patent
law system.In a news
article published over the weekend, a competitor of Monsanto
and a representative of the
Brazilian Industrial
Property Office called into question a specific article
of the patent law which determines the length of time for
which a company receives protection under Brazil patent law.
Monsanto believes that the law is clear that one of the
company's Roundup Ready soybean patents has patent
protection until August 2007. In fact, Monsanto has already
been granted an injunction regarding the interpretation of
this patent which allows the company to continue to collect
royalties on its Roundup Ready soybean technology.
Under the pipeline patent
treatment of Brazil's Industrial Property Law, Monsanto's
additional patents on the Roundup Ready soybean technology
are valid through June 2011. The company is currently taking
action to affirm the expiration dates of these patents, just
as many other companies have successfully done since
Brazil's patent laws were modernized.
As the original news
article in O Estado de
S. Paulo states, the company and its seed partners
continue to amicably negotiate an appropriate method for
charging royalties.
Monsanto Company is a
leading global provider of technology-based solutions and
agricultural products that improve farm productivity and
food quality.