The Role of Compulsory Licensing in Balancing Intellectual Property Rights and Public Interest

One of the most important mechanisms for striking a balance between intellectual property rights (IPRs) and the general public interest is the use of compulsory licencing. This is especially true in fundamental domains like education, technology, and healthcare. This study investigates its function within the context of intellectual property on a worldwide scale, with a particular emphasis on its implementation in accordance with the TRIPS Agreement of the World Trade Organisation (WTO) and certain state laws. The manufacturing of HIV/AIDS treatments at cheap prices in South Africa and the granting of obligatory licenses for life-saving medications in India are two examples of case studies that demonstrate the potential of this technology to reduce disparities and enable access. There is also a discussion in the article of the difficulties associated with implementation, such as opposition from patent holders, disagreements over commerce, and shortcomings in infrastructure in underdeveloped countries. The promoting of international cooperation, the guaranteeing of equitable remuneration, and the development of local capabilities to successfully leverage compulsory licencing are all offered with recommendations. It is possible that compulsory licencing may be a more effective mechanism for guaranteeing equal access to vital breakthroughs while also retaining incentives for creativity and investment if these problems are addressed.