Indian Patent System Under Trips Agreement: Issues And Challenges

Author: D.N. Dwivedi

Abstract:
The Patent system of any country is an important tool for technological and industrial development. It effectively protect innovation by providing incentives to the inventors and ensuring adequate returns to the industry on the investment made by it for commercialization to invention. In this regard Indian Patent Act, 1970 has strike a reasonable balance between private incentives for innovators at one hand and the societal aspirations and industrialization objectives of country of the other. This balance is, however seems to be shifting under the TRIPs and WTO constraints. The new patent system emerged throughout the world, particularly, in India in consonance with the provision to TRIPs Agreement has attempted to globlize U.S. style of patent. It has disastrous implication not only agricultural sector and pharmaceutical sector but also on democracy and sovereignty of the nation. This paper makes an humble attempt to analyse the issues relating to Indian patent system under TRIPs Agreement and concludes that the patent law should neither become instrument for exploitation nor for monopolisation

Keywords:Product Patent, Compulsory Licensing, Exclusive Marketing Rights, Sui-generis system, Plant Breeder's Rights, Terminator Technology

DOI:

International Journal of Trade & Commerce (Vol: 5 Issue:1)