Role of Pharmaceutical Companies in Globalization of Intellectual Property Rights

Intellectual property plays an increasingly vital role in global trade and economic development. Globalization of intellectual property rights means that intangible informational resources are now produced, exchanged and consumed anywhere and everywhere defying jurisdictional borders. Intellectual property has moved into the mainstream of national economic and developmental planning. In the recent years, it has also emerged as a central element of multilateral trade relations.
It is probably more accurate to portray intellectual property rights as a class of intangible business asset that is usually held by global companies such as pharmaceutical companies performing the (admittedly important) roles in the modern economy of investors, employers, distributors and marketers.
Findings: By globalization of intellectual property law, Individual pharmacologists are less frequently the ones who own and control the rights.
Viewed in isolation, globalization of intellectual property law is a stunning triumph of the pharmaceutical companies in making global IP rules and in enlisting states and international organizations to enforce them. However, one must be careful not to generalize from one case.