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|Title:||Role of Intellectual Property in Economic Growth|
|Abstract:||In spite of substantial economic growth of nations, there still persist conflicting views among developed and developing countries in retaining a strong intellectual property regime in the domestic realms. For instance, the debate on competition laws and feasibility of having monopolistic tendencies as emphasized by the jurisprudence of IP laws, still appears to haunt the think-tank of developing nations like India. The fact that developing countries vary widely in the quality and capacity of their scientific and technical infrastructures, poses a major hurdle to the extent of applicability of IP, particularly, patent laws, to each of them. Having a uniform IP standard across the globe undoubtedly seems to be an easy solution, but the issue certainly involves numerous micro and macro considerations which need to be taken heed of. The aim of the present paper is to investigate the impact of a strong IP regime in the economic development of a nation. As well known and beyond any doubts, IP protection is an important determinant of economic growth. It helps entrepreneurs to recover costs of their innovative expenses. Undoubtedly, IP systems must be developed so as to bring in socio-economic well-being. However, the incentives for the same need to be analysed critically, as the duplicity of stands of various parties to the WTO and TRIPS are clearly evident. The fact that strong IPR actually provoke IPR infringements in many developing nations also seems to be an issue which needs to be analysed while comprehending the need for the former. The trade-off between unfair competition laws and IP also assumes importance of high magnitude and hence needs to be particularly emphasized.|
|Appears in Collections:||JIPR Vol.10(6) [November 2005]|
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