Question

The impact of technology on intellectual property rights in the business world

Answer 1

Following the conclusion of the TRIPS Agreement much has been written on the potential costs and benefits of stronger Intellectual Property Rights (IPRs) protection in terms of growth and technology transfer, particularly for developing countries. This paper reviews this literature and provides new evidence linking protection of IPRs to economic growth, innovation and technology diffusion. Results suggest that while stronger IPR protection can ultimately reap rewards in terms of greater domestic innovation and increased technology diffusion in developing countries with sufficient capacity to innovate, it has little impact on innovation and diffusion in those without such capacity and may impose additional costs, especially for the least developed countries that will be precluded from using imitation as a means to develop innovative capacity. There is a considerable incentive, therefore, for countries at different stages of development to use the flexibilities in the TRIPS Agreement to maximise its net benefits for their development. + We would like to thank Olga Memedovic and David Greenaway for useful comments, and Michael Bailey for proofreading the final document.

Answer 2

Answer:

▪︎Technology diffusion

On the one hand, stronger IPR protection could restrict the diffusion of technology, with patents preventing others from using proprietary knowledge and the increased market power of IPR holders potentially reduc- ing the dissemination of knowledge due to lower output and higher prices.

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