REGULATORY INSTITUTIONS OF THE WORD ECONOMY
Trade-Related Intellectual Property Rights (Trips) Have Been Adopted With A View To Encourage Fair Competition At The International Level, But Trips Rules Tilt The Balance In Favour Of Imperfect Competition With Each Country And Exacerbates International Inequalities. (Discussion With Reference To Pharmaceutical Industry)
Name of Lecturer:Rajendran K S
Name of Student: Nilesh Singh
Date of Submission:6 May 2011
Table of Contents
1.| Introduction| 3|
| 1.1 Main Objective of This Essay| 3|
2.| Role of TRIPs in International Market| 3|
3.| Why Intellectual Property Rights (IPRs) is Important?| 4| 4.| Reason of Flexibility in TRIPs| 6|
| 4.1 Effect of Strong Implementation of IPRs| 6|
| 4.2 Debate on Balanced Approach to Stimulate Research and Development| 8| | 4.3 Flexibility in TRIPs| 9|
| 4.4 IPR and International Trade| 9|
| 4.5 IPR and Health| 10|
5.| TRIPs – A Paradox for the Poor| 12|
6| Conclusion| 13|
Trade Related Aspects of Intellectual Property Rights (TRIPs), was the very important invention of the new international trade system by World Trade Organisation (WTO) in 1995. After the Uruguay Round (UR), under the multilateral trade negotiations, introduction of the agreement on TRIPs turn out to be a major success in the discipline and development of international law. Member nations of WTO faced different problems in defining their respective national intellectual property strategy and policy and designing intellectual property rights legislation in conformity with those policies and requirements of the TRIPS Agreement. The protection and enforcement of intellectual property rights differ from countries to countries; this was major problem in international economic relations. 1.1 Main Objective of This Essay.
The main objective of this essay is to understand does TRIPs have been adopted with a view to encourage fair competition at the international level? Moreover we will try to understand TRIPs rules lilt the balance in favour of imperfect competition within each country and exacerbate international inequalities. With the help of example of different countries we will try to understand and analyse the inequalities faced by different countries by TRIPs.
2 Role of TRIPs in International Market
TRIPS main role is to provide significantly high level of protection to intellectual property rights (IPRs). However United States (US) always tried to find different methods and mechanism to make these rules more strong by imposing higher levels of intellectual property knows as TRIPS-Plus on developing countries. This restricted viability of cheap medicines. In twenty-first century, bilateral free trade agreements (BFTAs) were signed with different developing countries (Oxfam, 2007). Jordon was the first Arab country and fourth country in the world to sign FTA agreements with US in 2001. In the Jordan-US FTA, there were many TRIPS-Plus laws were used, even though evidence strongly suggests that TRIPS-Plus rules “undermine access to affordable medicines” (Oxfam, 2007). Jordan-US FTA is an example of a country where Jordan’s pharmaceutical and bio-medical technology industry leads economic growth. This economic growth of Jordan leads to globalization benefit (Ryan and Shanebrook, 2004, p. 1). This was bench mark for many developing countries which showed tremendous growth in multinational pharmaceutical enterprises in Jordon, which lead to accessibility and availability of medicines and drugs at lower price. According to Rayan and Shanebrook (2004), the free trade agreement between Jordan and US encouraged local firms to produce generic drugs. In this way this agreement between Jordan and US engaged the local firms in innovation, research and development of new drugs...