Modern Features of IP Trade Regulation in International Economic Relations
Posted: 6 May 2022
Date Written: April 11, 2022
Abstract
Today international regulation of trade in intellectual property (IP) is an extremely urgent issue due to the emergence of an increasing number of factors and conditions affecting its development. Technological progress cannot be imagined without intelligent components that are actively integrated into all areas of international economic relations in the form of IP, which is especially evident in the conditions of industry 4.0.
Undoubtedly, one of the significant phenomena of our time, which had a tremendous impact on the development of a multilateral mechanism for IP trade regulation was the COVID-19 pandemic. The health crisis that has developed almost everywhere has contributed to a sharp increase in global demand for various IP objects contained both in individual pharmaceutical products and in the results of clinical and preclinical trials, not to mention the rights to patents in the pharmaceutical industry as a whole. On October 2, 2020, India and South Africa requested the TRIPS Council to waive the implementation, application and enforcement of certain sections of the second part of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), administered by the World Trade Organization (WTO). Later the list of stakeholders expanded to more than 60 participants mainly from developing and least developed countries. During the active work of the TRIPS Council significant progress has been made and stakeholders have been able to reach a certain consensus.
Among other modern factors affecting the development of a multilateral IP trade regulation mechanism we can single out: digitalization, the dynamic development of electronic commerce, both domestic and cross-border, the virtualization of the real world, the creation of fundamentally new IP objects, as well as the growing concern about the commercialization of space.
Keywords: Intellectual property, trade regulation, internetional economic relations
JEL Classification: O34, F10
Suggested Citation: Suggested Citation