ABSTRACT
In this book we assess the most dynamic relationship in the current globalised economy, that between intellectual property rights (IPRs) and the development of economies. By IPRs we mean protecting, by the rule of law, intangible assets that are predicated on an independent judiciary for enforcement. The fair and transparent use of law and especially in relation to IPRs is a key to civilised society and a fertile ground for innovation, which eventually brings economic prosperity to all. There is a symbiotic relationship between developed economies and emerging economies that can be measured through the levels of intellectual property (IP) activity and economic development. Japan and the United States have the highest number of patents produced in the world while England has been a centre of innovation since the industrial revolution especially in relation to individual inventors and small and medium enterprise (SME) innovation. Japan and the United States, respectively the first and second largest economies in the world, also depend for their success on how rigorously emerging economies enforce their IPR laws. Such enforcement depends on a number of key variables such as an independent judiciary, which allows a country to enforce IP laws effectively, the ability of the other country to innovate itself so it is not compelled to copy other countries’ IPRs, the strength of morality a country holds and attaches to IP and the history and tradition of upholding IP. As the chapters emphasise again and again advanced economies do not favour investing in countries that have appalling IPR enforcement records. There is a tendency for active foreign direct investment (FDI) to occur in countries and regions that make an effort to uphold IPRs. This has compelled countries and regions that actively seek FDI to standardise their IP laws such as with the European Union (EU) and to work on upholding standards of enforcement such as in China and South Korea.
