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You are here: Home > Business > Careers Employment > If You're a Struggling Scientist, a Shortcut to a Lucrative Career in Patent Law Awaits You |
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Main Subject - If You're a Struggling Scientist, a Shortcut to a Lucrative Career in Patent Law Awaits You
An article at CNN lists academic research scientists as one of the top three “Big jobs that pay badly”. The article states that this career track has “one of the most disproportionate ratios of training to pay”. I believe it. According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product As a one-time research scientist myself, I experienced the low pay first-hand. In all honesty, it was barely enough to support my modest living needs, let alone a family. I found myself in the uncomfortable position of actu ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in ally making less than a full-time waitress. This was with my Master’s degree in Molecular Biology working at a prestigious academic institute. And as much as I’d like to say it gets better with more education, I can’t. Unfor lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. tunately, the salary and job expectations only seem to only worsen with the degree level. If you’re a postdoc, you know exactly what I mean. Decades ago, the postdoctoral position was merely a “stepping stone” on the road to here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe something bigger and better. But today, many postdocs are trapped in their temporary positions. Some spend as long as a decade, or more, just biding their time, searching for their “big-break” into the small pool of permanent d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro Ph.D. positions. Even those that make it are forced to go where the money is, which might not be where their ideas and dreams would take them. I can imagine if you’re in this position, you’re probably wondering why I’m bring ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc ing this up. To rub in how incredibly underpaid you are? No. Instead, I want to let you in on a little secret. It’s a shortcut actually. You see, my story changed when I found out that as a scientist, I qualified to begin easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi a career in patent law. All I needed to gain status as a registered Patent Agent was pass an exam conducted by the United States Patent and Trademark Office. Upon passing this exam, I would be legally eligible to write and pr nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically osecute patents in the U.S. Chances are you qualify to take this exam and become a Patent Agent too. A licensed Patent Agent (with no law degree) makes an average expected salary of $74,900 a year (as reported by PayScale.com and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ in 2005). Contrast this with the $45,000 average salary of a Research Associate in the field of Biotechnology. That’s almost $30,000 more in a single year. The salary for a Ph.D. in a postdoc position is a mere $38,000. An ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi d the average number of hours a postdoc works in a typical week is 51. If you do the math, it becomes apparent that a postdoc’s hourly wage is just under $15/hour. This is less than the average salary earned by recent college ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a graduates with only a bachelor’s degree. Once again, let me remind you of the average salary of a Patent Agent -- $74,900 a year. And it’s not all about money. A career as a Patent Agent has its rewards. It’s a highly resp dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod ectable and honorable career where you may put your knowledge to the test and solve fascinating technical and legal problems. It is your opportunity to really use that science degree (or the degrees) you worked so hard to get cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin and earn the prestige you so deserve. You will be right on the cutting edge of research and development, quite possibly even closer to it than you are today tucked away running experiments in the laboratory. You will be posit tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen ioned to learn about new and exciting discoveries before anyone else. In addition to the prestige offered by a career in patent law, there is virtually unlimited potential. Patent law is one of the few legal specialties that t? As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel is actually growing. And since many biotech innovations truly do advance society, you will have the opportunity to do something positive for mankind (which is probably why you became a scientist in the first place). And you m ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust ay always choose to get a law degree after you gain experience as a Patent Agent. As you might guess, you can expect a higher pay and even more challenges as a Patent Attorney (in fact, the average pay for a Patent Attorney is y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products $100,000 with some partners earning well over $200,000 a year). So with all the benefits of a career in patent law, why don’t more scientists opt for this opportunity? Especially when all that stands between them and this ca . As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de reer is an exam? Well the truth is, many just don’t know the opportunity exists. My goal is to change that. As you can see, passing the Patent Bar exam can open an entirely new career door for you. It can pave the way to a elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip higher salary and a highly rewarding career. So if you’re interested in a career change of this sort, please seek out more information today. As you know, shortcuts don’t always last forever, especially when the word gets out. tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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