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An efficient and equitable intellectual property system can help India to realize intellectual property’s potential as a catalyst for economic development and social & cultural well-being. Discuss.

Topic:  issues relating to intellectual property rights.

5. An efficient and equitable intellectual property system can help India to realize intellectual property’s potential as a catalyst for economic development and social & cultural well-being. Discuss. (250 words)

Reference:    Business Standard 

Why this question:

The question is premised on the importance and relevance of efficient and equitable intellectual property system for our country and in what way it can act as a catalyst for economic development and social & cultural well-being.

Key demand of the question:

Explain the importance of intellectual property system to the country and draw its relations to economic development and social & cultural well-being of the country.

Directive:

Discuss – This is an all-encompassing directive – you have to debate on paper by going through the details of the issues concerned by examining each one of them. You have to give reasons for both for and against arguments.

Structure of the answer:

Introduction:

Explain IPR – Intellectual property rights (IPR) are the rights given to persons over the creations of their minds: inventions, literary and artistic works, and symbols, names and images used in commerce. They usually give the creator an exclusive right over the use of his/her creation for a certain period of time.

Body:

To start with, explain why there is need of IPRs. Present the case of India and the rule and regulations available with it in respect of IPR regimen. Discuss the national IPR policy. Highlight the challenges and concerns associated.

Conclusion:

Draw a balanced conclusion justifying how an effective IPR system can act as a catalyst for economic development and social & cultural well-being.

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