Intellectual Property: An Option to or Mechanism of Innovation in the ICT and Hi-Tech Industries

Abstract

Since the middle ages, intellectual property has seen a varied trend from controversies to a relaxed attitude amongst not only the academia, but also within the practitioners. Currently, intellectual property has become an important element of international trade to the extent of being made a subject of a protocol to the GATT agreement. Clearly, this can be found in the mechanism of the WTO that ensures entry thereto and access to the 1st world markets under the GATT and GATTS treaties to be secured by the will of developing countries, especially; to accept the TRIPS and signatories being obliged to not only recognize, but also provide enforcement mechanisms once IPRs are not observed. Thus far, intellectual property could be said to be on its way to glory, however; the same could equally be true for its criticisms. From the ranges of ordinary technology to sophisticated information and communication systems, to biotechnology, name it. Faced with questions regarding its initial objective of rewarding innovation yet for the common good of society, arguments about controlling, and sharing IPRs only on terms are, ' . . . at the centre of our vision for ordered and stable civil societies'. A discussion of the IPRs that can be obtained and the procedures shall be made; juxtaposing them with the procedures for obtaining non ICT IPRs. The same shall be done for the hi-tech industry on life forms, before looking at the challenges facing intellectual property within both areas. Through this presentation, I argue that Intellectual property has not done enough to promote innovation, yet do I propose better ways to promote innovation through intellectual property. Finally, I consider the possible solutions that could create a harmonized play of intellectual property yet enhancing the development of ICT and other hi-tech innovations, before drawing conclusions on my findings.