ABSTRACT
This chapter provides a critical examination of the available economic evidence to date on the welfare implications of strengthening the global intellectual property rights regime, particularly as they apply to the less developed countries. It considers briefly the main theoretical argument in favor of strengthening the international regime as well as the counterargument that such action is inimical to the welfare of poor nations. The chapter is concerned with what the existing empirical studies have to tell us about these issues. The trade-related intellectual property (IP) rights (TRIPS) agreement also goes well beyond previous international agreements and institutions for the protection of IP in its enforcement powers. The basic theoretical justification for TRIPS does not differ in any important way from the arguments that have long been advanced for the defense of patent and copyright protection in general.
