The Making of TRIPS and Consequential Amendments to the Indian Patent Act
Globalization of IPRs
A patent,1 or an intellectual property right (IPR), is an exclusive right granted by the State to an inventor for a fixed period, known as term of protection. During that term, an inventor is protected from unauthorized use of their invention. The invention could be a new product or a new process for manufacturing a new product or a known product.2 An inventor can use his invention himself or license others, subject to the stipulated terms and conditions including the payment of a royalty. In contrast to the contractual assignment of his right to others by the inventor, a compulsory licence is an authorization mandated by the Patent Law ...
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