What does the future of Intellectual Property look like?

Ideas. They are the driving force behind everything that we do as human beings. An idea can spark positives and negatives , world wars and war peace. Massive weapons of war, or cures for the most hideous of diseases. But, behind all these things is one thing: an idea. A human has an idea on how to improve their life, and suddenly, an invention is created. This invention is then produced by said person, and made available to the public. Later down the line, someone else has an idea on how to improve the item, and the product is made better for the public. This is the normal train of events that passes. However, what would happen if no one wanted to act on that idea that they had? The process would collapse. That is where the term Intellectual property comes in, and Ventureoutsource recently did an interview with Dr. Kamil Idris on his thoughts on intellectual property, and the challenges that it faces today.

Dr. Idris is a world renowned expert on international law, specializing in patent law and intellectual property and the rights that those with IP have. He has written many books on the subjects, and has honorary doctorates in over a dozen universities across the world, on top of his actual PhD from University of Geneva in Switzerland. In the interview, Venturesource asks him about globalization’s impact on IP. Dr. Idris states that it has been good and bad. On the positive side, globalization and digitization of intellectual property allows businesses to find new products or means of production for the to produce or use in production. Millions of these options are available with a simple typing of a keyword and scrolling through the results. On the negative side, globalization and digitalization IP has made it significantly easier to steal. Many movies have suffered under the oppression of pirated and bootlegged copies, along with music. On top of this, knockoff items and products are produced everyday in an effort to create cheaper versions.

Dr. Idris also gives us a glimpse into the future of international IP and its impact on the global economy. The TRIPs agreement is an effort by a conglomerate of governments and businesses to fully regulate and standardize the laws that govern IP on a global scale, making it the same for all countries. Dr. Idris states that this will most likely prove to be fruitless, though many countries, especially quick developing ones, find themselves using these laws as a framework for their own laws.