Assumption 3. TRIPS Agreement Recognises the Needs of Both Producers and Users

TRIPS Agreement plays a critical role in shaping the landscape of harmonised IP regulation, aligning the production of technology with its consumption.

Article 7 Objectives The protection and enforcement of intellectual property rights should contribute to the promotion of technological innovation and to the transfer and dissemination of technology, to the mutual advantage of producers and users of technological knowledge and in a manner conducive to social and economic welfare, and to a balance of rights and obligations.

Article 7 of the TRIPS Agreement affirms that the protection and enforcement of IP rights are not exclusively for creators but also serve as a catalyst for advancement and sharing of technology. This implies a recognition of a symbiotic relationship between producers and users of technological knowledge, asserting the philosophy that IP laws must, at their core, facilitate an environment that benefits both innovators and the end-users of their innovations. Such provisions underscore a collective benefit narrative, promoting the diffusion of technology as a shared asset that propels both economic growth and social development.