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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.
Keywords
- Intellectual property rights
- innovation
- economic growth
- industrialization
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.
Copyright
Copyright © IJLMH 2021