Navigating the Intersection of Intellectual Property and Innovation: Trends, Challenges, and Future Directions

Authors- Assistant Professor Mr J.P Pramod, Annaram Kruthika, Alishety Poojitha

Abstract-– There is an extensive theoretical literature examining best-practice design for patent policy, but a significant shortage of empirical evidence regarding an important parameter in implementing such models: how research spending reacts to the intensity of patent rights. In recent decades, intellectual property rights (IPR) and their macroeconomic impacts have become prominent themes, capturing a significant interest both of policymakers and academics. The findings establish the presence of nonlinear relationship between IPRs and technological innovation that the shape is an inverted Ushaped curve, It’s established that innovations in developing nations grow in its IPRs by seeking the factor of human capital and economic development who have an indirect effect on enhancing the effect of IPR on innovation. I then briefly summarize the findings of two recent papers that have made headway in beginning to surmount these empirical challenges by marrying new data sets capturing biomedical research investments with new sources of variation in the effective intellectual property protection afforded to various inventions. While there exists a large theoretical and empirical literature, evidence on the effects of IPR protection on innovation and economic development is conflicting. In this paper we perform are view and meta-study of the literature on this subject, and determine that IPR overall exert a positive impact on innovation and growth. I outline how the implications of each study to patent policy and propose areas of further research.

DOI: /10.61463/ijset.vol.13.issue2.356