Written by Jason (Tan Tai) Truong, DBA Student
Enforcing Intellectual Property Rights: An Economic Perspective
The economic perspective of enforcing Intellectual Property Rights. The concept of the Intellectual Property Rights is referred to the protection of the product of the intellect of the humans which are the mind creations. In this research, doctrinal methodology is used as doctrinal assessment of the literature to form a base for the useful conduction of legal research. It covers Intellectual Property Rights and the market failure and evaluating the welfare impacts of different types of Intellectual Property rights encroachments. It also provides the practical evidence and execution strategy of Intellectual Property Rights. It is needed to review the basic economic principles to protect several kinds of Intellectual Property Rights, by directing towards several distinct market failures that increase government involvement. Considering the economic concerns highlighted in this dissertation and its suggestions regarding the enforcement plans of IPRs in developing states, it can be concluded that primarily the internal motivation for devoting considerable sources to fight piracy and counterfeiting is reluctantly forced in emerging states. , it was observed that the studies conducted regarding the economic aspect of Intellectual property rights are very limited. Therefore, the purpose of this research is to provide an economic prospect on strategies and regulations with respect to the IPRs implementation. The study explains fundamental visions from the economic sources to identify primacies and main concerns to distribute threatened law execution sources. From this study, two basic themes emerge. First is that the several distinct kinds of IP violations possess diverse safety impacts, that are dependent on primary failures of the market and its characteristics. Previous researches that have tried to measure the “damages” resulted by the piracy of IPRs have at times neglected these variations. Second, in the planning of IPRs implementation policy, decision-makers are required to consider the motivations of manufacturers and customers for breaking of the law. Considering these motivations provides significant understandings regarding the limitations of the governmental policies and the usefulness of several distinct kinds of implementation activities.