ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The Intellectual Property Law is a negative right which means it is a right to exclude others from using the property generated by the registered owner. It is thus obvious that this law anticipates pre-emptive measures to prevent the misuse, as the property is intangible per se.

Detailed explanation-2: -Intellectual Property rights (IPRs) are generally known as “negative rights” because the owner enforces them by stopping third parties from exploiting the rights’ subjects.

Detailed explanation-3: -Conversely, however, IPP may have a negative effect on trade because protection increases the market power of property rights owners, and they will therefore reduce the quantity of supply.

Detailed explanation-4: -Intellectual property rights are the rights given to persons over the creations of their minds. They usually give the creator an exclusive right over the use of his/her creation for a certain period of time.

Detailed explanation-5: -Thus, patents are negative rights, not positive privileges. A patent provides its owner with the right to prevent the manufacture, sale, use, importation, or offer for sale of the patented product, process, or composition. A patent is not a positive right that enables its owner to do anything that he or she wants.