Impact of Intellectual Property Rights on Disembodied Knowledge Trade With Reference to Technology Transfer

  • Impact of Intellectual Property Rights on Disembodied Knowledge Trade With Reference to Technology Transfer

    Date : 07-08-2018 13:29

    Impact of Intellectual Property Rights on Disembodied Knowledge Trade with Reference to Technology Transfer

     

    INTRODUCTION: IPR regime seeks to protect the rights in intangible property and to secure the privileges of the original creator in order to let him reap the fruits of his hard work. But when it comes to something like knowledge of a new technology which is also tangible it’s for sure that every nation wants to get hold of it. Not any country can be fully independent as to solely depend upon its own technologies. What if in this race they (states) copy this technology since it is not possible to prevent others from using the knowledge of a new technology even without the creator’s consent. This is where IPR plays a major role which provides a monopoly to inventors for certain duration so as to encourage and incentivize them.

    TECHNOLOGY TRADE: it can be pronounced in the same breath as technology transfer. For innovations there is patents that generally work for a duration of 20 years and if the knowledge regarding the patented invention/technology is freely available the creator/inventor won’t be able to recover the costs of the same and thus there will be less investment in promoting new investments, and hence it will indirectly hamper the circle of new inventions. But creating a strict IPR aura cannot solve this problem as it is likely that there would be less attraction towards creating/inventing. On the other hand, nations having weak IPR protection rights have seen growth in research and development as they promote the spread of knowledge. Proper protection of IPR will work towards encouraging technological inventions and its transfer towards the mutual benefit of both its creator/inventor and users of such technology which in turn would also prove beneficial to improve friendly relations with foreign states and socio-economic welfare of the host country.

    TRIPS AGREEMENT: with globalization hitting every market there was a significant increase in trade and investments across borders especially of technology-intensive products, therefore, the trade-related intellectual property rights agreement came up with worldwide principles with certain additions in existing IPR regime which created space for scope and development of technology transfer. It is the first comprehensive umbrella rules managing IPR protection on a global level. This agreement allows signatory nations to pursue suitable IPR protection regime but sets minimum standards to be followed by them.

    CONCLUSION: it is true when they say that strict parents make the worse liars, this metaphor becomes true in this aspect that the growth of knowledge decreases with strict IPR protection barriers which hinder overall productivity. What can be done is incentivizing technology contracts by removing various barriers also mitigating flaws and being prepared for the worst never disappoints.

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