Through the years history has documented amazing men and women which have contributed much of their ideas to improving society. Intellectual Property Rights plays a vital role in not just safeguarding the individual to protect the use of their ideas from misuse but it was meant to promote inventiveness and creativity.
Intellectual Property Rights has evolved with the emergence of new technologies its scope has grown and several factors including globalization of economies as well as changes in the way businesses operate and politicization of IPR issues have been factors influencing its direction.
If one were to asses the Philippine setting it would appear that our progress is slow compared to our other neighbors. Our earliest record of laws on intellectual property rights dated back in 1947. We joined the World Organization (WIPO) in 1980 only after 10 years after it was established and our Intellectual Property code has only taken into effect during 1987.
Furthermore the country is viewed as one of the nations that are weak in enforcing laws governing Intellectual Property. Resulting in Millions lost in revenue for corporations and the government in taxes.
Consistent enforcement is critical because of the reality that there are people who do not respect the Intellectual property rights of others. The reason may vary from greed, lack of awareness, perceived necessity, criminal intent or even an innocent mistake. When illegal copies take market share or even kill a potential market the enforcement mechanisms become vital to not only protect the players and the entities but also the general public as well.
Most of the industries that are affected include computer software, music, films, luxury goods and fashion, perfumes, books, watches, medicine among others. According to World Intellectual Property Organization (WIPO) the factors that influence the increase include a significant gap in the consumer...