MASTER OF BUSINESS ADMINISTRATION
ECON 1102
REGULATORY INSTITUTIONS OF THE WORD ECONOMY

Trade-Related Intellectual Property Rights (Trips) Have Been Adopted With A View To Encourage Fair Competition At The International Level, But Trips Rules Tilt The Balance In Favour Of Imperfect Competition With Each Country And Exacerbates International Inequalities. (Discussion With Reference To Pharmaceutical Industry)

Name of Lecturer : Rajendran K S Name of Student : Nilesh Singh Date of Submission : 6 May 2011
Table of Contents

1. | Introduction | 3 | | 1.1 Main Objective of This Essay | 3 | 2. | Role of TRIPs in International Market | 3 | 3. | Why Intellectual Property Rights (IPRs) is Important? | 4 | 4. | Reason …show more content…

Due to this local pharmaceutical production of medicine blossomed. The local firms of Jordan quickly copied drugs from North and exported to markets where similar patent drugs were required. The copying of new drugs by Jordan’s local firms was not liked by Pharmaceutical Research and Manufacturers of America (PHRMA) and other European drug manufacturers. In the absence of strong IPRs protection in Jordan was costing these companies millions of dollars every year. Therefore this group wanted to stop local competition of production of generic medicine in Jordan (EL-Said, 2006; Lacket, 1996). This was one of the major problems faced by pharmaceutical companies, they used to lose huge amount of money due to coping of their drugs by competitors, and this problem was solved by IPRs.

4 Reason of Flexibility in TRIPs
TRIPS limited the use of compulsory parallel imports and licensing. Article 31 of TRIPS, parallel imports and licensing are allowed only when there is some kind of emergency like national emergencies and in order to protect health of people of nation.

Above all example of TRIPs shows that TRIPs brought drastic change in emerging countries IPR rules and regulations. TRIPS provide flexibilities to poor’s countries so that the availability to affordable life-saving drugs and medicines are easily available. It protects access during national emergencies and public health crises.

4.1 Effect of Strong