All intangible, results of human thought, encompassing “inventions, literary and creative creations, designs, symbols, names, and commercial imagery”, are categorized as intellectual property (IP). Intellectual property protected by “patents, copyrights, trademarks, and trade secrets”, confers upon artists the exclusive right to exploit their creations for a certain duration. Patents are crucial for the diffusion of information and the promotion of economic development, as they enable the transfer of technology. This research paper explores the significance of technological transfer, specifically focusing on its impact on worldwide development, innovation, and industrial competitiveness. It also examines the relationship between patent law and technological transfer, emphasizing the potential for the intellectual property rights system to hinder equitable technology sharing, particularly in developing nations, despite its objective of fostering innovation. Important key aspects will also be discussed like the relation between technology transfer under “TRIPS Agreement and Convention on Biological Diversity”. These ideas aim to address the challenges and promote a more effective and fair transfer of technology.
