Intellectual Property Right

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Introduction

This article presents a debate on the topic of intellectual property rights. You will probably find it interesting to start off the topic with this quote: "The public will learn that patents are artificial stimuli to improvident exertions; that they cheat people by promising what they cannot perform; that they rarely give security to really good inventions, and elevate into importance a number of trifles...no possible good can ever come of a Patent Law, however admirably it may be framed." (The Economist, 2002) You may be thinking who would have had this subjective and extreme standpoint. One can hardly imagine or expect The Economist endorsed such an argument back then in the 1851, in a passage issued, which it was the mouthpiece of British economic liberalism at the time.

In the mid-19th century, The Economist argues that by restricting the free use of one's ideas by another, patents hindered rather than promoted economic growth. Patents as a protectionist's measure were an enemy of free trade. Speaking about IPR, it is indispensable to include the interest party-developing countries. This sets off the argument of whether the current IPR laws and systems should be imposed in and are