Does the New Intellectual Property Rights Regime Impede Innovation in Developing Countries: A Case Study of The Indian Pharmaceutical Industry
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This paper starts with a simple and brief introduction of Intellectual Property Rights. Intellectual property gives certain right to some individual to exclude others from the use of specific intangible creations/innovations for a certain period of time. These creations take the form of tangible products. The Law gives protection to the intangible creations like ideas, technical solutions. This implies that the owner of a patent can prevent the manufacture, use or sale of the patented product in the countries where the patent has been registered. This explains why intellectual property rights may have a direct and substantial impact on industry and trade.