Intellectual Property Rights versus Competition Law
Kurukshetra Law Journal Vol. I, May 2011, pp. 188-210, ISSN 2231-5519, Deptt. of Law, Kurukshetra University, Kurukshetra, Haryana-India
21 Pages Posted: 23 Feb 2016
Date Written: May 2, 2011
Abstract
The first view expresses that there is a tension between competition and intellectual property, arguing that competition law seeks to eliminate monopolies and encourage competition, while IPR laws reward creators and inventors with a limited monopoly. According to the proponents of this view, the main function of IPR laws is to properly assign and defend property rights on assets that have economic value. On the other hand, the main goal of competition law should be to minimize the adverse consequences of monopoly power arising from IPRs.
The second view expresses that competition law continues to be a vital means of ensuring continued innovation and economic growth. The aims and objectives of IPRs and competition laws are complementary, as both aims to encourage innovation, competition and enhance consumer welfare. It is vitally important to preserve competition for innovation because competition ensures the best outcome for consumers.
Keywords: Property, Competition, Rights, Barriers
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