Journal of Intellectual Property Rights

Saurabh Verma ¹, Rajender Kumar ², Sunil Kumar Yadav ³

Affiliations
1 Department of Management Studies, NIT, Silchar, Assam 788 010, IN
2 Department of Business Administration, NIT, Kurukshetra, Haryana 136 119, IN
3 Rukmini Devi Institute of Advanced Studies, GGSIPU, Delhi110 085, IN

Abstract

The infringement of intellectual property rights (IPRs) in the form of counterfeiting has emerged as one of the biggest crimes of the contemporary world. Counterfeiting has become a global epidemic, creating huge losses to the established brands, economy o f a nation, undermining innovation and creativity and posing a significant threat to consumer health and safety. In recent times, it has become the world’s fastest growing and most profitable business. To combat counterfeiting, a detailed investigation from the consumers demand perspective is required as the universal law of economics states that “where there is a demand, there will be a supply” . The main aim of the study is to identify the key psychographic determinants affecting consumers’ buying intentions of purchasing counterfeit products in India. The main findings of the study revealed that price consciousness, novelty seeking, status consumption and peer pressure are the key psychographic determinants affecting consumers’ buying intention of purchasing counterfeit products. It has also been found that value consciousness has no influence on consumers’ buying intention of purchasing counterfeit products. The study is relevant to the current marketing scenario as it provides useful insights to the brand manufacturers and marketers for developing effective strategies and policies required to influence consumers’ buying intentions of purchasing counterfeit products.

Keywords

Agreement on Trade-Related Aspects of Intellectual Property Rights, Organisation for Economic Co-Operation and Development, Federation of Indian Chambers of Commerce and Industry, Theory of Reasoned Action, Counterfeiting, Intellectual Property Rights, Psychographic Determinants, Buying Intentions, Counterfeit Proneness Scale.

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Sunil Kumar Yadav ¹, Saurabh Verma ²

Affiliations
1 Institute of Technology and Science, Ghaziabad — 201 007, Uttar Pradesh, India., IN
2 Department of Management Studies, NIT Silchar — 788 010, Assam, India., IN

Abstract

Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement was negotiated during Uruguay round and GATT was replaced by WTO. All the signatory countries had to abide to the norms of the agreement. They were asked to modify their national IP laws as per the requirement. India too incorporated the required changes and finally, Indian patent act became TRIPS compliant in 2005. Although, it was claimed that India has designed its action in a most exhaustive form still, Indian companies face lot o f litigation suits concerning infringement o f patented products. Issues were raised at international forums stating that Indian IP laws are not fully TRIPS compliant and lot o f flexibilities are given for the domestic firms which creates an unequal platform for trade. In order to reach to the substantial-conclusion on the impact of TRIPS implementation on the functioning of Indian pharmaceutical industry (IPI) and the impact it may carry with respect to the socio-economic life of the citizens of India. The study considered some of the court cases related to the infringement of patents that were raised in Indian court by MNC’s along with their decision. Through these cases and the judgements thereafter it was found out that Indian Patents Act is well in place and judiciary plays an important role in monitoring its effective implementation.

Keywords

Intellectual Property Rights,Indian Patents Act,WTO,TRIPS,Indian Pharmaceutical Industry, Innovation.

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