THE ECONOMICS OF INTELLECTUAL PROPERTY RIGHTS: BALANCING INNOVATION AND MARKET COMPETITION

This research paper examines the economics of intellectual property rights (IPR) in India and the challenges of balancing innovation and market competition in the country. Intellectual property rights play a crucial role in promoting innovation and promoting market competition. However, finding the right balance between these two goals is crucial for sustainable economic growth. The article begins with an overview of intellectual property rights, including copyright, patents, and trademarks, and their economic significance. It examines the historical development of intellectual property in India and its impact on innovation and competition.

The legal framework and institutions governing intellectual property in India are analyzed, focusing on key intellectual property laws such as the Copyright Act, the Patent Act, and the Trademark Act. Explore the strengths and weaknesses of India’s intellectual property system to understand its effectiveness in supporting innovation and promoting fair competition in the marketplace. The purpose of the case studies was to illustrate specific issues related to intellectual property rights in India, such as the pharmaceutical and software industries, as well as issues related to traditional knowledge. An Assessment of the Economic Impact of Intellectual Property Rights on Innovation and Market Competition in India Using Empirical Analysis.

The paper presents policy considerations and recommendations to address India’s challenges in striking a balance between protecting intellectual property and promoting competition. Conduct an assessment of the current IP policy and identify areas for improvement in order to create an effective and balanced IP system.

In conclusion, this study highlights the importance of striking the right balance between intellectual property rights, innovation, and market competition in India. Achieving this balance will foster the development of a thriving innovation ecosystem while ensuring equal access to knowledge and promoting healthy competition.