Question

1. Free international trade contributes to the global fight on poverty. Discuss.

2. The international legal framework for protecting intellectual property (IP) does not adequately reflect the value that IP represents for international businesses. Discuss.

Answer 1

1. It is true that due to the emergence of free international trade, a drastic impact could be seen on the poverty levels of the world and not only some specific countries. Having and allocating the trade liberalisation would allow that many countries regardless of being rich and poor would be able to export and import important and relevant resources from any part of the world without paying much of the duties and other taxes. This trade liberalisation would help the poor countries and underdeveloped countries to effectively catch up with the richer ones and this economic growth and pace of fast moving countries would help to ensure that countries could reduce their poverty level and manage the same growth.

2. It is true that the international legal framework which works around in the world for protecting the intellectual property to make sure the same is not being stolen and used/copies by anyone, does not shows the effective value that the same intellectual property represents in the international business. This legal framework is not adequately drafted and thus it could often lead to many contractual agreements and disagreements between the parties about the same value the IP represents. People doesn't understand and give coverage to how important the copyright and licensing thing is and doesn't take in account of the confedentiality of their data and information to protect their privacy and also their intellectual properties. Because of this, many businesses and individuals suffer and face losses with regard to the right to use, ownership etc.