TRIPS Agreement: The Balance Between Intellectual Property Right and Public Right

ABSTRACT

Intellectual Properties are the driving factors that lift the world to the next level. Intellectual Property Rights ensures the constant creative output and set world to march towards development. While, it is also vital to shape a welfare state. The research focuses on the objectives of the Trade Related Aspects of Intellectual Property Rights Agreement and its role in balancing the creators’ rights and the public rights. The study aims to understand the stand of India in IPR and the steps taken to establish the balance. India being a member of World Trade Organizations and adhering to the provisions of TRIPS Agreement, its governing over IPR is highly influenced by the minimum standards set by TRIPS Agreement. The methodology used for this research is Doctrinal research with descriptive approach. The research involves the study of theories that supports the balance between IPR and Public Rights. The research is taken on the ground of reality basis and from legal perspective with the incorporation of case laws at significant points. The findings provides that the limitations for IPR framed by the TRIPS Agreement guarantees the fairness in balancing. The study of the Hegelian philosophy induces us to focus more on this stabilization. The attention of India in IPR has significantly increased from the Basmati Rice Patent Case. Alongside, the timely amendments made in Indian Patent Act 1970 to ensure the conformity with TRIPS Agreement provisions, signifies India’s inclination in the foresaid matter. The research paper is also provided with suggestions to tackle the issues arising from the imbalance of IPR and Public Rights. Thus, the research paper enlightens us about the initiatives that needed to be taken to brace ourselves in this world of fast-growing intellectual properties.