Towards an Equitable Global IP Order: Reforming WIPO and TRIPS to Advance Inclusive Innovation and Technology Access

Abstract

The worldwide intellectual property (IP) environment is very much like a turning point, influenced by such factors as rapid technological change, geopolitical division, and the growing differences in access to innovation. In fact, the multilateral frameworks under the World Intellectual Property Organization (WIPO) and the Agreement on Trade, Related Aspects of Intellectual Property Rights (TRIPS) were intended to standardize international relations. However, the result of their implementation has been far from social justice in terms of nations diversity. Poor and middle, income countries still have obstacles in getting, using, and commercializing knowledge, based assets. This research looks at reform from three different angles. Firstly, the paper investigates the repositioning of WIPO from being an essentially administrative treaty, centered organization to becoming a proactive development, focused facilitator which would be capable of ensuring legal harmonization, dispute resolution, and innovation financing in the case of underrepresented economies. Secondly, the paper deals with changes in TRIPS, especially in the interpretative flexibility of the different facets of the issues like compulsory licensing, parallel importation and, least, developed, country exemptions. The article argues that top, level international intellectual property (IP) management should be less uniform and more adjusted to the differing situations of the parties involved, with development cooperation and an inclusive digital infrastructure as two factors that would enable a fair participation of all in the knowledge economy. It will be definitely required a reform of both WIPO and TRIPS as a first step towards a global system operating on the basis of mutual trust which would not only take into account the rights of the owners but also the needs of the society and would facilitate the emergence of new technologies accessible to everyone.