Laws of Intellectual Property in the Process of Socio-Economic System’s Development for Developing Countries.

LAGHAI MICHAEL KIKA East Ukrainian national university named after V.Dahl, Luhansk LAWS OF INTELLECTUAL PROPERTY IN THE PROCESS OF SOCIOECONOMIC SYSTEM’S DEVELOPMENT FOR DEVELOPING COUNTRIES. This article provides an analytical overview of how socio-economic development may be promoted by an effective system of intellectual property laws or rights (IPRS). IPRS can play a positive role in encouraging new business development, rationalization of inefficient industry, and inducing technology acquisition and creation. These may harm Socio-Economic system’s development prospects by raising the costs of imitation and permitting monopolistic behavior by owners of IPRS. The potential gains and losses depend on the competitive structure of markets and the efficiency of related business regulation, including aspects of competition policy and technology development policy. Development is a multidimensional process. It seeks to create a broad based sustainable improvement in the quality of life and standard of living. Economic growth is a necessary, though not the only, condition for development. In a growing economy, development can be broadly defined as a reduction, among others, of unemployment and poverty. A core concern of development policy, especially in developing countries, continues to be as to how to increase the availability of meaningful educational and employment opportunities. The intellectual property system is one of the cornerstones of modern economic policy at the national level and a catalyst for development. It is increasingly become an important tool for sustainable development of developing countries, especially the least developed countries, in the knowledge-based society of this millennium. Problem Statement Developing nations are overwhelmingly importers of technology, suggesting that they should establish standards that encourage learning and follow-on innovation within their IPRS system. Understanding the legal and economic foundation of the

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