The Interplay Between The Intellectual Property Law And Competition Laws

Introduction

The most important role that is played by any law in this world of free markets is the laws of intellectual property. They act as a survival kit in a highly competitive market by ensuring that the owner's right of the intellectual property are not being infringed to his prejudice by another party. The exclusive enjoyment of rights is conferred upon the rightful owner[. Therefore, a huge deal of attention is being given to IP Laws and along with it, an another niche filed of law which is gaining strong foothold in the gamut of laws that affect this technologically advanced contemporary world is competition laws. Historically speaking, these two fields of law have emerged as two separate systems but they share the common goal with different perspectives. On one hand, IP Laws deal with the promotion of innovation by providing exclusive rights over invention. On the other hand, competition laws promote efficiency in the market and prevent market distortions.