Superpowers 2.2 Flashcards
What patents used on?
New inventions, technologies and systems
What are copyrights used on?
Music, art work, books
Trademarks are used to…
Protect designs
Why are parents, trademarks and copyrights used?
They are used to prevent stolen ideas.
It encourages invention
Helps justify the initial cost in research and development
What is the rationale behind patents?
The investment into research and development increases the quality of goods and gives them a competitive edge.
What is IPL trying to combat?
Counterfeit goods in the pharmaceutical, electrical and music markets.
How much does the counterfeit market cost the global economy?
$85bn/yr
Where does it mainly happen?
China - Chinese production accounts for 70% of counterfeit goods
What does the WTO allow developing nations to do?
They can import cheaper versions of essential medicines before the patents expire.
Why would TNCs be reluctant to invest in China?
Profits will reduce due to counterfeits.
