COMPETITION LAW AND TRIPS ISSUES FACED IN INDIA

Author – V ASHIKA SUJITH, Student at National University of Advanced Legal Studies

Best Citation – V ASHIKA SUJITH, COMPETITION LAW AND TRIPS ISSUES FACED IN INDIA, ILE Competition and Company Law Journal, 1 (1) of 2023, Pg. 10-17, ISBN – 978-81-961120-6-6.

ABSTRACT

Abstract Intellectual Property Rights grant the right holder the exclusive right to explore his innovation for a specific time period while barring others. Competition law, on the other hand, promotes free commerce and industry in the market economy by encouraging traders to compete fairly. It prohibits monopoly and anti-competitive conduct. So, whereas IPR and Competition Law appear to be at odds, they are really additional and complimentary to one another. Monopoly is not propagated by intellectual property rights. Only the absence of comparable IP-protected goods and services results in monopoly, which is followed by anti-competitive activities. In reality, anticompetitive actions harm intellectual property rights. Hence, by prohibiting anti-competitive acts, competition legislation promotes the establishment of IPR. If these two regimes are applied correctly, the apparent contradiction between IPR and competition law can be resolved. TRIPS has provided some flexibility to its member nations under Article 8.2, Article 40, and Article 31K, which can be used to ensure that these two regimes run correctly. After the MRTP Act, India implemented Sections 3, 4, 5, 6, 18, and 27 of the Competition Act, 2002, as its own competition legislation. As a growing country, India should put more emphasis on R&D to increase the variety of IP-protected goods and services available to consumers, giving them more alternatives and facilitating actual consumer welfare.

Key words: Intellectual Property Rights, Competition Law, TRIPS, Anti-competitive practices, monopoly.