The incentive theory under Intellectual property regime provide reward to the new innovation made by inventor and monopoly right over it for a period of time. Competition restricts the abuse of monopoly right which is abusive in nature. It is further said that dominant position in market is not per se illegal but the abuse of such position is illegal. Person or association cannot in the name of collective bargain operate like cartel which was seen in this case.<\/p>\n
The remedy available is compulsory licensing provision in the case of overpricing of copyrighted and patented products, therefore Competition Commission of India should lay down strict and clear guidelines to resolve the conflicts of competition policy and intellectual property rights. These both stream of law and rights should work together and supplement each other. The courts through interpretation have settled the principle that competition in the market and consumer interest is of supreme importance and can outplay the rights of holder.<\/p>\n
In general terminology the word \u2018Competition\u2019 is a process of rivalry in terms of CCI and this definition has been borrowed from World Bank. As per famous author Robert, objective of competition is to better off one individual without worsening anyone else.<\/p>\n
Post Contributed By:<\/p>\n
Abhishek Bhargava<\/p>\n