HOW TO BENEFIT FROM THE SYSTEM A DISCUSSION OF THE KEY ELEMENTS OF AN EFFECTIVE IP SYSTEM
- Lalbee S
- Sep 30, 2023
- 6 min read
Written by S. Lalbee, Law student
INTRODUCTION:
The World Intellectual Property Organization (WIPO) in Geneva, Switzerland, hosted the second International Conference on Intellectual Property (IP) and Development on May 20, 2019. A diverse collection of individuals from industry, academia, international organizations, non-governmental organizations, and students attended the event. Others joined in on the live broadcast and contributed. Participate in a discussion with stakeholders from the public and private sectors, as well as IGOs, NGOs, enterprises, and other sectors, on various elements of intellectual property (IP) and development. Examine knowledge and experience on contemporary intellectual property and development issues at the national, regional, and global levels. Create a strategy for maximizing the value of the IP system.
As such, at the International Conference on Intellectual Property and Development, hundreds of member state delegates, observers, and other participants from around the world gathered at WIPO for a high-level discussion on how to use the intellectual property system to promote economic, cultural, and social development in developing nations. This conference brought together experts from across the world, to share their perspectives on various aspects of Intellectual Property (IP).
THE FOLLOWING PANELS WERE EXAMINED BY PARTICIPANTS:
How the IP system supports innovation.
The advantages of the IP system for creativity.
Benefits of the IP system for global issues.
Open discussion about the IP system's prospects and difficulties in the modern world.
IP SYSTEM BENEFITS CREATIVITY:
On the first panel, Mr. Aziz Dieng, Professor Ruth Towse, and Professor Vanus James highlighted the benefits of the IP system for innovation. Mr. Dieng began the discussion by recounting his travels in West Africa. He gave instances of how a disdain for intellectual property may stymie cultural item development by making distributors reluctant to make investments out of fear for the safety of their money. Professor Towse then underlined the importance of institutions in the exercise and enforcement of intellectual property rights. She said that copyright gives artists the ability to negotiate with consumers on the market and that as new technologies advance, there are more and more rights that apply to diverse media with varying outcomes and economic values in the many marketplaces in which they compete.
Professor James illustrated the importance of intellectual property in growth by discussing how a small country may compete globally by using its culture, creative ability, and local knowledge. Because once one has the IP rights, creators have a strong chance of converting their works into revenue, he stated that copyright in that context did not come with scale limits and that IP will typically play a big role in competitive behavior. He estimated that the Caribbean's copyright-based industries had grown significantly, accounting for about 5% of GDP. The IP system is critical in providing artists and inventors with the courage to venture into unexplored territory.
Therefore, it serves as a cornerstone for innovation, offering creators the incentives, protection, and support they need to unleash their imaginations and bring their ideas to life. This, in turn, contributes to the ongoing progress of society and the enrichment of human culture and knowledge.
IP SYSTEM BENEFITS GLOBAL ISSUES:
The system of intellectual property (IP) provides significant benefits in resolving and mitigating global concerns. It encourages innovators, researchers, and organizations to invest in creating answers to some of the world's most urgent problems, such as climate change, healthcare, and food security. IP protection allows for the movement of innovations and information across borders, promoting the spread of vital solutions to less developed nations. This approach is especially important in industries such as pharmaceuticals, where the balance between intellectual property protection and public health must be carefully controlled to ensure access to crucial medications.
Moreover, IP fosters the development and distribution of environmentally friendly technology, worldwide research collaboration, economic growth, cultural interchange, and awareness of global challenges. The IP system helps greatly to international initiatives aimed at tackling difficult global concerns by encouraging innovation, enabling technology transfer, and driving economic growth. To ensure that these advantages are fairly spread, it is critical to maintain a balance between IP protection and equitable access.
Further, in the international conference held on IP Professors Peter Yu, Caroline Ncube, Suerie Moon, and Xavier Seuba were the four presenters on the panel discussing how the IP system aids global challenges. The topic of Professor Yu's discussion was the various aspects that influence whether intellectual property (IP) is required for progress. The worry for many developing nations is that the standards do not mesh with the local circumstances, and the one-size-fits-all approach took away their autonomy and policy flexibility. Increasing flexibility within the IP system, advancing pro-development proposals, particularly at the international level, mutual support with other international agreements, ensuring a transparent process, introducing complementary measures, and allowing countries to engage in selective adaptation are just a few of the ways he suggested realigning the IP negotiations.
Professor Ncube discussed how to view intellectual property (IP) from the perspective of commerce and regional projects. She believes that regional efforts should always be adaptable to the local environment. To carefully evaluate how to collaborate or tweak IP provisions, keep ethical issues in mind, and acknowledge the many inventive systems prevalent in a given country, it was vital to bring a human rights framework. Professor Moon then gave a talk on the connection between intellectual property, public health, and access to medication. She discussed newly adopted business strategies and came to some conclusions on how to keep drug prices low for all nations. She said that there had been much discussion about structuring R&D differently to assure both innovation and access to medications, as the latter was becoming a problem that affected both high-income and poor nations equally.
IP SYSTEM BENEFITS INNOVATION:
While innovation is concerned with the marketing of new ideas, invention is not always immediately tied to commercialization. The act of invention is the development of a novel notion to answer a specific technological problem. Innovation can be considered as an interaction and feedback process that occurs across the various stages of product development because not all inventions are commercialized, nor do all innovations result in innovation. According to economic studies, patents are the most sought-after intellectual property for the protection of technological inventions. This appears to show that the terms "innovation" and "invention" are used interchangeably.
As a result, the following speaker was Professor Weresa, who examined the economics of innovation and provided insights into Europe's contributions to invention and the digital revolution. She stressed the relationship between the dynamics of many technical fields and the Fourth Industrial Revolution. Her presentation highlighted that the majority of the Fourth Industrial Revolution's inventions were generated in the United States, Europe, and Japan. After her speech, Professor Foray discussed the economics of innovation. He stated that big data and artificial intelligence (AI) posed a significant barrier to growth and that productivity growth will result from all aspects of AI's propagation, not only vertical breakthroughs. Professor Foray claimed that as a result, big data and AI would be used in a variety of industries, including marketing, R&D, transportation, and healthcare. As a result, IP rights will need to be balanced with incentives for innovation and dissemination.
Dr. Fernanda de Negri, Professor Marzenna Weresa, and Professor Dominique Foray participated in the final panel, which covered the topic of how the IP system supports innovation. Dr. Negri discussed some of the prerequisites for invention, provided historical context, and reviewed empirical research on IP and innovation that emphasized the significance of patents for new developments in the pharmaceutical and chemical industries. Dr. Negri asserts that patent regimes have a significant and advantageous impact on innovation in home nations. She claimed that while IP rights benefited innovation in rich nations, the same was not always true of poorer nations.
CONCLUSION:
Professor Seuba spoke on IPR enforcement. He emphasized balance in the context of global health and food security. The relationship between enforcement and substantive norms has been stated in political terms on occasion, and enforcement plays a critical role in this relationship. The notions of equity and proportionality are used in the enforcement process. Some courts distinguished between the creation of a right and the availability of remedies for its defense. Because of this division, there was an opportunity to adjust enforcement in response to changing circumstances, such as national circumstances and policy goals.
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