Arbitration In Intellectual Property Disputes

Abstract

According to the definition of WTO (World Trade organization) “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.” Therefore as a very old and famous saying goes, “A right without a remedy is no right at all”. In order to protect rights conferred upon its members, state tries to come up with various means to solve any clashes within this field and also comes up with mechanisms which will safeguard originality and maintain creativity at the same time. These instruments may extend from being totally state driven (for example state courts) to totally private and secured inside a state directed framework (mediation), to totally private without state supervision (negotiation) with the exception of in constrained cases. Intellectual property, despite absence of a far reaching definition, is by and large consulted with broad insurances in many locales. They give imposing business model rights to the holder/proprietor. Given the skew imposing business model rights present, states attempt to make licensed innovation strategies to draw a harmony between levels of insurance conceded and benefits that individuals from the State can get from abuse of such protected innovation. Given the general arrangement and the erga omnes character of IP insurances, question concerning IP are normally held inside the sole area of state courts.