TRIPS and the Importance of Property Rights: A Law and Economic Perspective

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This paper is geared towards gaining an understanding as to what is the right choice for developing countries: a strong intellectual property regime as advocated by the adherents of TRIPS or a weak intellectual property regime, for instance, process patent regime. This paper will proceed in three parts. The first section of the paper studies the benefits of a strong intellectual property regime along the lines of TRIPS, from the perspective of both the individual innovator and the society as a whole. The second section analyzes the arguments against a strong intellectual property regime substantiated with examples from the pharmaceutical sectors of various developing countries. In part III, this paper while accepting that the gradual growth of the patent rights regime in various countries, with the increase in the level of development seems to indicate that a strong Intellectual property regime is a natural outcome in course of developmental and progress of a nation, seeks to analyze various provisions of TRIPS and contends that the present regime under TRIPS is unable to minimize the resultant deadweight loss in the society due to inefficient and overly stringent forms of protection.

Keywords: Technology, Knowledge, Economics, Law and Society
Stream: Knowledge and Technology
Presentation Type: Paper Presentation in English
Paper: A paper has not yet been submitted.

Vardaan Ahluwalia

Student, The National University of Juridical Sciences
New Delhi, India

I am currently in the third year of a 5-year integrated course in B.A./B.Sc., LL.B.(Hons.) offered by the aforementioned organisation. In these three years of legal education, I have developed a penchant for mainly three areas of law: Constitutional Law, Environmental Law and International Law.

Ref: T08P0153