Collective Impact of Intellectual Property Rights Regime and Competition Law on Knowledge Driven Industries in Developing Countries: Need of a Judicious Reconciliation

3472 Words14 Pages
COMPETITION LAW TERM ASSIGNMENT Collective Impact of Intellectual Property Rights Regime and Competition Law on Knowledge Driven Industries in Developing Countries: Need of a Judicious Reconciliation Submitted to: Submitted by: Ms. Rejitha Nair Jitendra Singh Asst. Professor 09bal100 ILNU 9th Semester Intellectual property policy and competition policy are important instruments of governance that seek to promote the broad objective of economic efficiency. IP policy seeks to promote innovation by rewarding the efforts and investments of innovators whereas the competition policy holds that that the social interest is best served in a competitive market as competition leads to efficient allocation of resources. Economic Importance of IPR Intellectual property refers to property that has been created by one’s intellect. There are several intellectual properties that are commercially very valuable and they are protected by different intellectual property rights. Intellectual property is important for a common businessman. The country’s economy is opening up. Trade and Industry in developing countries like India are becoming more knowledge driven where intellectual property rights (‘IPRs’) are increasingly becoming the real assets of the developing industry. Industries of our country are going far and away into different countries to open up business. Foreign entrepreneurs are fast entering into domestic economy. We need to protect our businessmen. In recent times, one of the most valued asset a person has is the intellectual property. For example, for a businessman, it is his trade mark; for an author, copyright

More about Collective Impact of Intellectual Property Rights Regime and Competition Law on Knowledge Driven Industries in Developing Countries: Need of a Judicious Reconciliation

Open Document