The Complex World of Intellectual Property Rights

GDJASUJA

We quite often come across the term ‘Intellectual Property Right or IPR’ when reading some article about the liberal trade practices being followed by developing countries including China and India when it comes to protecting the rights of the IP holders. These articles written by foreign trade experts specifically warn technically advanced companies mostly in the US and the EU to take the necessary steps to protect their IPRs when considering doing business with countries like China, India and others. China has the presence of world’s most advanced companies in almost all the sectors where IPRs are supposed to be the key elements of the countless goods being made in factories located in China. For example, Apple’s iPhone to Nike’s apparel or footwear. This has also resulted in the maximum abuse of IPRs in China. There are people in China who can copy any design or product and sell you at a much cheaper rate.