Intellectual Property Rights Essay Example | Topics and Well Written Essays - 1750 words

Intellectual Property Rights - Essay Example A considerable portion of the essay discusses the policies of the two countries and explanation is provided about the differences between their IPR's policies. Intellectual Property is defined by World Intellectual Property Organization (WIPO) as the conceptions, formations, and creations of the human mind. Intellectual property rights protect all such information and ideas as the intellectual assets for a particular economy. Since the ownership of such assets is acknowledged these assets are also known as intellectual properties. The economic returns on the intellectual property are dependent upon its demand to potential customers, cost of their formation, the place where they are sold and the permission rights for the owners to control it. And similarly, the authority which provides this control is Intellectual Property Rights. The Intellectual Property rights are classified into two categories i.e. Industrial Property and Copyright. Industrial property saves inventions. They take in patents, trademarks, industrial designs, and geographic indications of source. Copyright shields literary and artistic creations for example works of fiction, poetry and plays, movies, novels etc. The necessity to form intellectual property rights was first observed in the Paris Convention for the security of Industrial Property in 1883 and The protection of Literary and Artistic Works was recognized in the Berns Convention in 1886 (WIPO, n.d). The basic aim of intellectual property rights is to protect the rights of the creator of such information and to give the rights to the common public to use his or her creativeness. In the light of this fact, IPRs argue to encourage creativity and modernism within the economy (1). Increasing criticism has been observed on the issue if the benefits of IPRs prevail over its costs (2). During the past three decades, it has been examined that IPRs are set up in more and more areas. Some areas in which IPRs were not introduced have now defined the IPRs as software (3) and databases (4). A number of critic researchers have argued that such progress is causing danger to freedom of expression and holding back creativity (5). In the globalized world today increasingly the numbers of difficulties related to the Intellectual Property Rights are increasing. This essay would further examine these difficulties in the developing world. Intellectual Property Rights A strong point in opposition to intellectual property rights focuses on the efficiency of Intellectual Property Rights to distribute knowledge and pave way for more innovations. To support this argument Copyright law may be used as the best possible explanation. Copyright Law grants the creator the rights to his own creations as well as on the creations which are not actually created by him but are created using his knowledge and ideas (6). If we carefully study and inspect the outcomes of this law we would realize that it doesn't encourage the use of innovations as this incurs an extra expenditure on an innovator who wants to make use of a copyrighted material or idea. This would further lead the innovator to use a less creative idea which may not be copyrighted (2).