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33 Supremo Amicus [1] (2023)

handle is hein.journals/supami33 and id is 1 raw text is: SUPREMO AMICUS ft VOLUME 33 1 MARCH, 2023 ISSN 2456-9704 RELEVANCE OF INTELLECTUAL PROPERTY RIGHTS IN THE 21sT CENTURY AND ITS IMPACT ON GLOBALIZATION By Aathmaja Menon From School of Law, Sastra University, Thanjavur; Tamil Nadu Abstract In the world we live in today, de chili t create, commercialise, and mos/t ca~ci,// appropriate (or capture) the ec oi 1 benefits from scientific and technit (/a(1/ advances, is what essentially determines the economic well-being of conmries and the competitiveness of businesses. The domes/ic and international frameworks governing intellectual property are signi/ican//t impacted by the globalisation of inventions and works of art. Value-driven an ans/s ofi these implications and their like/l n//s is unavoidable. This research pa/>er .s li/ght on the signipcance of intellectua oper/'y rights in the modern era. It also discusses how important intellectual proper/t rights are in the international sphere and how they affect globalisation. This essay also looks at the globalisation of intellectual property rights (IPR) in the twenty-first century and how it affects international trade and innovation. In reality, intellectual property rights have been critical in fostering trust, knowledge sharing, andcollaboration among organisations and individuals. During the COVID 19 pandemic, they supported the rapid development of multiple effective vaccines as well as the mass scale-up of manufacturing. Critics of intellectual property rights (IPRs) have demanded their suspension throughout the COVID-19 issue, arguing that they will obstruct research and development and make vaccines and treatments unaffordable. Thus, this research essay also investigates the role of IPR during the pandemic and its impact on vaccines in India. INTRODUCTION The expansion of intellectual property rights in the twenty-first century is massive. The number of creative minds has rapidly increased, as have the number of creative orks inventions. Individuals' idteli<ei and creativity are being jprm10oted he newly emerging social media 'r and t has given rise to a whole new business. Intellectual property once belonged to a person as a common, unprotected property. The intellectual property of a person is open to appropriation by anyone. Even in today's browser environment, there is a very strong probability that original ideas wil be tan withoutthe author's permission. Thus, Jntellectual Property Rights were established in order to safeguard, protect, and increase the intrinsic worth of such intangible properties. The Paris Convention for the Protection of Industrial Property (1883) and the Berne Convention for the Protection of Literary and Artistic Works were the first agreements to acknowledge the significance of intellectual property (1886). Intellectual Property Rights allow people to profit from their inventions and creative works while preventing others from unfairly appropriating their ideas or resources. It is one of the means of securing intangible assets that are still accessible to the general public and easily replicable by anyone. Intellectual Property ensures that you are acknowledged as the creator of items such as inventions, www.supremoamicus.org PIF 6.242

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