As noted in the Competition Policy Review Issues Paper, a primary underlying rationale for the grant of intellectual property (IP) rights is the fact that “creations and ideas, once known, may otherwise be copied at little cost, leading to under-investment in intellectual goods and services.” Patents, in particular, are intended to provide an incentive, in the form of an exclusive right of commercial exploitation for up to 20 years, for investment in research, development and commercialisation of new inventions in all fields of technology.
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- Anne Wardell is Editorial Content Manager at Wolters Kluwer, CCH and co-administrator of the Law Chat site.
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