An Examination of the Legal Protection of Intellectual Property Rights and Motivating Economic Growth: Myth or Reality

Nehad Khanfar

Law - Islamic College - Islamic College-Middlesex University

Abstract

An Examination of the Legal Protection of Intellectual Property Rights and Motivating Economic Growth: Myth or Reality Dr Nehad Khanfar Islamic College-Middlesex University, London Key words: Intellectual Property, Protection, Economic Growth, Laws and Regulations Reading through the terms of Intellectual property literature such as trademarks, trade secrets, copyrights, patents, would appear to be legal and moral means of raising the level of innovations, and boosting technological creativity of its all aspects. Therefore, individual legal rights to intellectual property have witnessed a significant expansion to include most of knowledge intensive sectors. Some countries expanded or even exaggerated their legal procedures to protect IP, justifying this by boosting and motivating their national economic growth. This paper draws attention to latest developments of the laws and regulations related to IP protection on the global levels and the obligations of different countries and international organisations to regulate IP. Therefore, the importance of IP to the national economic growth and advancement from being one of developmental tools to a “national security strategy” would also be examined. This paper critically examines the impacts of IP protection on motivating potential business and trade and to what extent this can affect the economic growth. It also evaluates how the legal protection of IP can assist or restrict the transmission of intellectual property from the international to the national levels with. The discussion will also shed light on how instrumental to the economic growth and development to create a judicial and administrative institutions to facilitate the execution of the rules and regulations that enhance trade related aspects of intellectual property rights

Keywords

Intellectual Property, Protection, Economic Growth, Laws and Regulations