Legal Protection And Intellectual Property Rights

Intellectual property is defined in the World Intellectual Property Organization (WIPO) as the creation of the mind. According to WIPO the work does not have to be literary in order to be protected. Names, images, symbols, designs..etc. are all protected. Intellectual property rights are mentioned in article 27 of the universal human rights act that gives the inventors and creators to benefit from their work. Those rights are obtained through registering patents, trademarks, and copyrights. There are several reasons behind offering protection to intellectual property. First, the legal protection encourages inventors towards creating and discovering, and that will lead to further innovation. Economic growth is also considered an incentive†¦show more content†¦TRIPS aims to protect IP in a broader level (globally), support international trade, and pursue public interest. TRIPS deals with different IP rights e.g. patents, copyrights, and trademarks. This paper will discuss all three types of IP. The protection granted for owners of intellectual property rights under TRIPS promotes the business and economic development and that will result in increasing the level of innovation in several countries. Inventors will also be encouraged to contribute to activities involving research and development; knowing that their work is legally protected. Countries impose rights of protection to IP in order to ensure citizens are innovative in their own country. Developed countries offer very high protection of IP rights and because of that, those countries are considered very innovative. Article 8 of the TRIPS agreement states that members may â€Å" adopt measures necessary to protect public health and nutrition, and to promote the public interest in sectors of vital importance to their socio-economic and technological development, provided that such measures are consistent with the provisions of this agreement.† This provision validates the recognition of problems arising from over-protection of IPRs by TRIPS. It allows members of the agreement to react upon misuse of the IPR by IPR owners, provided that measures taken are complying with the provisions outlined in TRIPS. However, the impact