Emerging Issues of IPR in Developing and Under Developed Countries

Abstract

Intellectual Property Rights (IPR) are pivotal in driving innovation, creativity and economic growth globally. However, they also pose significant challenges, particularly for developing and underdeveloped nations. IPR can hinder access to essential goods, such as medications, educational materials, and agricultural technologies, exacerbating inequalities and stifling innovation. The monopolistic control of IPR by developed countries often leads to economic dependency and limits knowledge sharing crucial for addressing global challenges like climate change and public health. To mitigate these issues, a multifaceted approach is required, including strengthening legal framework, empowering communities, promoting technology transfer, and fostering international cooperation. Reforming the current IPR regime to ensure equitable access and benefit-sharing can harness the potential of intellectual property for sustainable development and global prosperity.