ISSN 2581-5369
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A Critical Analysis of the Global Patent System: Assessing the Efficiency, Equity, and Implications of International Patent Treaties in Promoting Innovation and Balancing Public Interest
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Dhruv Narwat
Research Scholar at Department of Law, Lingayas Vidyapeeth Deemed University, Faridabad, India
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Dr. Monika Rastogi
Head of Department at School of Law, Lingaya’s Vidyapeeth, Faridabad, India
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Sumar Malik
Assistant Professor at Department of Law, Lingayas Vidyapeeth, Faridabad, India
Abstract
The global patent system is designed to incentives innovation by granting inventors temporary monopolies to profit from their creations. However, its efficiency, equity, and alignment with public interest are increasingly debated. This paper examines the global patent system through the lenses of efficiency (does it effectively spur innovation?), equity (is it fair across nations and stakeholders?), and the role of international patent treaties like the TRIPS Agreement in shaping outcomes. While the system drives technological progress in some contexts, it often favours wealthy nations and corporations, marginalises developing countries, and restricts access to essential goods like medicines. Reforms are needed to balance innovation incentives with public welfare and global fairness.
Keywords
- Patent
- Innovation
- TRIPS Agreement
- WIPO
Type
Research Paper
Information
International Journal of Law Management and Humanities, Volume 8, Issue 3, Page 806 - 812
DOI: https://doij.org/10.10000/IJLMH.119752Creative 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.
Copyright
Copyright © IJLMH 2021