Intellectual Property Rights In International Trade: Balancing Innovation And Access

Settipalli Madhumitha, LLM (Intellectual Property Rights), School of Law, CHRIST (Deemed to be University), Bengaluru, India

Dr. Peketiramrao, School of Law, CHRIST (Deemed to be University), Bengaluru, India

ABSTRACT

This article explores the intricate and evolving relationship between intellectual property rights and international trade, with a focus on the delicate balance between promoting innovation and ensuring equitable access to knowledge and technology. IPR plays a pivotal role In incentivizing innovation and facilitating technology transfer across borders. However, this balance has become increasingly challenging as the international community grapples with issues such as access to essential medicines, cultural diversity, and the impact of IPR on developing economics. In a rapidly evolving global economy, the role of IPR in facilitating or hindering innovation remains a critical concern. This article reviews the historical development of IPR with in the frame work of international trade agreements and assesses their impact on innovation across various industries. The study investigates key challenges such as access to essential medicines, technological advancements, and cultural diversity. It explores how the flexibilities embedded in international trade agreements, like the Trade Related aspects of intellectual property rights (TRIPS) agreement, have allowed the nations to navigate this complex terrain. This abstract explores the delicate equilibrium between fostering innovation and guaranteeing access to critical resources, as enshrined in international trade agreements such as the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) under the World Trade Organization (WTO). TRIPS establishes minimum standards for IPR protection while allowing for flexibilities to address public health concerns, particularly in the context of affordable medicines. The abstract underscores the primary purpose of the WTO, which is to facilitate international trade, while emphasizing the role of IPRs in promoting innovation and technology dissemination. It delves into the phased implementation of patent protection under TRIPS, especially within the biopharmaceutical sector, and its implications for equitable access to life-saving medications.

Keywords: TRIPS, GATT, WTO, ACESS, INNOVATION, INTERNATIONAL TRADE, IPR