Traditional Knowledge and its Efficacy in Economic Growth

The World Intellectual Property Organisation mentions traditional knowledge as “indigenous cultural and intellectual property”, customary heritage rights as well as indigenous heritage. Some innovation and creation are based on tradition referring knowledge system that is transmitting from one generation to another through people and their territory. It is necessary to protect traditional knowledge for establishing equity consideration, preserving traditional culture and practices, preventing unauthorized parties appropriation of components of traditional knowledge and promotion of its use in development. It is very much indispensable to incorporate global legal instrument so as to give effective protection to traditional knowledge, cultural expressions and genetic resources. Thus the members of the WIPO agreed upon to develop a global legal instrument for helping members outside the local community threshold to access traditional knowledge. The “Copyright Act, (1957)”, was passed to protect the creations of artists such as literary sources, music and art. Moreover, there were specifications regarding the protection of traditional knowledge in Article 31 of the UNDRIP Convention. The report stated that the role of the members of the WIPO was to put emphasis on developing international legal structures such that creative inventions and works of the creators could be protected. Legal structures of IPR were designed such that traditional knowledge of the local indigenous people residing in multiple belts of India could be protected. The report highlighted the implications of traditional knowledge of Indian economic growth. Moreover, the ecological traditional knowledge of natives of the rain forests led to the development of the market economy. Some probable recommendations were also suggested by the researcher. The researcher recommended that technical advice is to be circulated among community members and representatives should be encouraged to participate in meetings organized by the WIPO agency