The modern world operates on the survival of the fittest rule.
Hence, there is cutthroat competition among the states, and
every state is striving for greater economic development. Development is
based on the minimal use of resources which in turn is dependent upon
technological innovations. These innovations incur huge research and
development costs and can easily be copied to serve as the basis for further
developments by the rivals. Thus, the idea of Intellectual Property Rights
(IPR) was introduced. While there are many advantages that these rights have
to offer, they also prove to be deleterious in some ways as they also play a
role in restricting innovation by the global North, which further widens the
gap between both worlds. This paper traces the history of the IPR and
develops an argument that proposes that IPR has been a cause of inequalities
and has restricted innovation.
1-Rao Raza Hashim Professor, School of Management, Forman Christian College (A Chartered University), Lahore, Punjab, Pakistan.2-Bushra Arfeen School of Management, Forman Christian College (A Chartered University), Lahore, Punjab, Pakistan.