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Impact of IPR on Indian Economy
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Shashi Shekhar Singh Chauhan
Assistant Professor at IIMT University, Meerut, India
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Abhishek Kumar Singh
Assistant Professor at IIMT University, Meerut, India
Abstract
Intellectual property seems to be essential to the progress of a country. In many developed nations, the strict enforcement of the IPR function has a considerable positive impact on economic growth. IP rights promote innovation, which leads to progression in the economy. Nowadays, every company exists as a result of innovation. The value of IPR legislation has been acknowledged in the current period. In today’s world, it’s not simply innovation but also brand recognition that counts. There is a lot of charm attached to the name. Intellectual property rights have a substantial influence on a country’s growth and prosperity. In the context of economic growth IP rights may have both a negative and positive impact. This paper deals with the impact of IPR on Indian economy. Further it highlights purposes, mechanisms, and economic benefits of IPR.
Type
Research Paper
Information
International Journal of Law Management and Humanities, Volume 6, Issue 2, Page 780 - 784
DOI: https://doij.org/10.10000/IJLMH.114414Creative Commons
This is an Open Access article, distributed under the terms of the Creative Commons Attribution -NonCommercial 4.0 International (CC BY-NC 4.0) (https://creativecommons.org/licenses/by-nc/4.0/), which permits remixing, adapting, and building upon the work for non-commercial use, provided the original work is properly cited.
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