Suryansh Mishra, Symbiosis International University
Sumayirrah Verma, Symbiosis International University
ABSTRACT
An extensive analysis of literature on the role of IP rights in economic development indicates that efficient utilization and protection of IP has remained an issue for most developing countries. This blog post explores the IP protection challenges in four emerging economies: These are India, Brazil, China, and South Africa. Every country has its challenges; India has been trying to protect traditional knowledge, Brazil has been fighting biopiracy, China has problems with counterfeit and forced technology transfer and South Africa has attempts to protect indigenous people’s rights to innovation and creation. In response to these challenges, the post outlines some possible solutions such as building advanced IP infrastructure, increasing IP awareness and capacity, offering IP financial support, technology transfer as well as the protection of traditional knowledge. It also affirms that suitable strategies are required to be developed by the developing country to protect and unlock the value of innovative assets appropriately. When developing countries adopt protection and utilization of IP, they will be able to fully harness these people resources and contribute fully to the global economy. The post also offers a framework region for policymakers, businesses, and users in developing countries to start addressing the barriers to the utilization of IP rights.
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