Uruguay Round of the General Agreement

To reduce copyright infringement in the entertainment industry, China must be able to increase the number of foreign films that could be shown in their country. As mentioned, this is one of the reasons why counterfeiters are looking for ways to satisfy the demands of the people in China. In this manner, the increase in the number of films being shown in the country could satisfy the needs of the people. In the same manner, censorship clearance procedures for optical media should be streamlined.

In this manner, these procedures would help in easing out the distribution of legal and authentic CDs, VCDs and other DVDs which in turn could lessen the chances of counterfeiters to produce pirated DVDs. In the same manner, licensing policies should not remain as strict as they are to ensure that retail stores would be provided with a national license which could then help out in the fight against piracy. On the other hand, companies belonging to the pharmaceutical industry should be able to take the step undergone by Pfizer.

This means that they should find ways by which their consumers could determine whether the product is authentic or not. Although all industries are encouraged to do the same, those belonging in the pharmaceutical industry is seen of great importance as the products involve may greatly harm the people. They could do this by developing anti-counterfeiting brand labels that would be harder to imitate. This would discourage the counterfeiters to infringe the labels as imitating them would entail finding new resources to find the new technologies needed.

The United States of America and the People’s Republic of China is considered to be today’s superpowers (Cass 2). However, their economic relationship, although strong, is very threatened due to the problems brought about by problems regarding IPR infringement. This is due to the fact the products being exported by the United States are all protected by intellectual property rights which accounts for about ninety billion dollars of all U. S. exports. These brand names surely have increased the popularity of all goods coming from the United States of America.

On the other hand, the People’s Republic of China is not that concerned about the protection of intellectual property rights. As mentioned in the earlier parts of this paper, most of the products being sold and used in China are pirated. As a result, their top trading partner, the United States of America is losing billions and billions of dollars. True enough, the government of the People’s Republic of China expressed its commitment to the battle against IPR infringement. They also got involved with the confiscation of counterfeit products in their hopes to end the usage of pirated software.

The country also started to sign international treaties that would help them in reducing piracy. Intellectual property rights are also becoming more and more popular with the countries belonging to the first world. Countries such as the United States, Japan, etc. believe that safeguarding these properties could foster economic growth, provides incentives for technological innovation, and attracts investment that will create new jobs and opportunities for all their citizens, Field (1) mentions.

More often than not, as also supported by the report of the World Bank entitled Global Economic Prospects, intellectual property rights for the first world countries are usually associated with greater trade and foreign direct investment flows which could then pave the way for faster economic growth. International treaties had been developed in order to protect the intellectual properties of the people. Salmon (18) also recognizes the importance of a strong protection for Intellectual Property Rights to the economic growth and development of all the countries in the world.

As mentioned in the earlier part of this paper, the international community never had a single source for obligations regarding intellectual property before the 1994 Uruguay Round of the General Agreement on Tariffs and Trade which included Trade-Related Aspects of Intellectual Property Rights or TRIPS. Without a doubt, intellectual property issues are becoming more and more popular as they also continue on to attract controversy and debate.

In fact, people do not tend to agree much on issues regarding intellectual property rights. The protection of the intellectual property rights of citizens is essential to the different aspects of development – social, cultural and economic. At the same time, Wayne (17) also mentions that copyrights, patents and trademarks are important in the following aspects: first, to promote cultural development; second, to foster innovation and growth; and finally, to protect public health and safety.