The Business of Intellectual Property and Economic Development: Did the WTO Get it Right?

Lobbies of the so-called knowledge industry and brand-based business succeeded in introducing strict protection of intellectual property rights (IPRs) into the World Trade Organization (WTO). However, it is often questioned whether the resulting WTO Agreement on Trade-related Intellectual Property Rights (TRIPS), as it stands, may serve development objectives. This article (i) presents the interplay of business and pro-development forces during the multilateral trade negotiations, (ii) evaluates the impact of the TRIPS agreement, (iii) reports on the current South-North conflicts of interest in the trading system and (iv) suggests that the positive business incentives for companies in low-income economies rather than stricter rules and policies based on threats - might constitute a more effective users in developing nations.