Intellectual Property Rights, Regulatory Laws, WTO, and its Impact

Abstract

This document examines major economic issues for intellectual property rights protection (IPRs) in the context of the World Trade Organization (WTO). The idea is to look back on the establishment of TRIPS (trade-related aspects of intellectual property rights), which is an ongoing success of the Uruguay Round debate on free trade. This paper reviews the economic concept of harmonizing IPRs, drawing attention to economic theory and strong emerging evidence. The concept of linking IPR protection with trade in the context of the WTO is also being explored. Particular attention has been paid to the results of TRIPS on new agricultural and biotechnology innovations. The impact of IPR protection on promoting growth and development and the relationship between IPRs and other economic policies are discussed. This paper concludes with an analysis of the potential for more (or less) consensus related to IPRs in the current WTO negotiating cycle.