Intellectual Residence And Its Pervasiveness In Industry Trade And Commerce.
What's Intellectual Propoerty:-
Property which originates from the Human Mind and for which Govt gives protection known as Intellectual Property Right(IPR). Trademark.Patent,copyright,geographical place are few examples of Intellectual Residence(IP). Intellectual property has attained in prominence in many fields of small business in the latest occasions. Right now, It's really a big asset for many of the planet's most powerful organizations. The intellectual home of a business is its legally protectable and exploitable invisible assets .It's a sub-set of belongings generally known as "intangibles". The phrase "mental assets (IP)" refers to assets inside of a lawful perception. It is a thing that may be owned and dealt with. The legal legal rights that give rise to intellectual house are usually referred to as "intellectual house legal rights (lPRs)". There are many types of IPRs that qualify as intellectual home. The most generally regarded lP class is patents. Other types incorporate copyrights, trade marks, style and design legal rights, trade secrets and plant breeders' legal rights. In the emerging understanding economic system, lP has become a crucial accomplishment issue for some significant- It truly is an Intangible Asset.But the future Gains being derived is uncertain. Hence valuation can't be designed effectively.
It's got no objectivity or supporting files in contrast to our accounting program which can be based upon objectivity.
Historic BACKDROP Bringing about THE DEVELOPMENT OF (Intellectual Residence Rights)IPRs:-
For a lot of the 19th century, the United states delivered no copyright safety for international
authors; the argument was that it necessary the freedom to repeat in an effort to teach The brand new country. Likewise, aspects of Europe built their industries by copying the innovations of
Some others. A similar design was adopted later by Japan and in some cases later on, after the 2nd world war, by each South Korea and Taiwan.
Right now, nevertheless, creating international locations do not have the luxurious to just take their time in excess of lntellectual Residence Rights (IPR). Like a A part of the trade deal hammered out 9 a long time ago, international locations joining the entire world Trade Organisation (WTO) also signed as many as Journeys (trade-similar facets of IPR), which involve patents, copyright, trade marks, trade strategies, geographical indicators and these kinds of other items. The lousy-er nations around the world of the whole world were given till 2006 to comply in entire with the necessities of the treaty.
Opposite to well-known perception, TRIPS will not create a common patent procedure..
Relatively, it lays down the ground regulations describing the protection that a rustic's authorized technique should supply, Considerably of the modern discussion in excess of the impact of IPR around the very poor has
centred on the issues of use of expensive medicines, In April 2001, South Africa won a victory versus important drug businesses fighting patent reform there, allowing usage of much less expensive variations of patented rnedicines for AIDS, Inspired, the developing international locations issued a declaration on the WTO meeting at Doha in November 2001 asserting the primacy of general public well being around IPR. They also settled which the the very least-produced countries must bo supplied at the least right until 2016 to introduce patent protection for prescription drugs.
Challenging Proposition:-
For the last one 12 months, the (Entire world Trade Organisation)WTO council chargeable for Outings was associated with a tough proposition : 'Obligatory licensing"- the manufacture and advertising and marketing of a patented drug without the patent-holders consent, This provision has been out there For the reason that formation from the WTO and Brazil has now applied the threat of "compulsory licensing" to ring sizeable price tag reductions outside of major patent-Keeping drug firms. This has boon permitted beneath comprise conditions, which includes national emergencies and can be utilized by countries for instance Brazil or India, which have domestic drug industries to repeat the medicines. The situation comes with nations around the world that have no drug makers, They might import generic copies through the likes of India. But, can they are doing so soon after 2005, when these copying exporting countries are alleged to have fallen in With all the Visits line? The big patent-holding drug corporations in rich international locations have worried that Indian together with other businesses may possibly abuse the offer to flood their marketplaces To arrive at a compromise, the Excursions council of your WTO Issued a declaration just before the Cancun ministerial commenced in September 2003,indicating that countries could override patents only "in excellent religion, to
secure general public well being', Specific steps are also stipulated, like diverse designs, coloration and packaging, to circumvent these generic medication from entering into wealthy international locations' markets.
Not this type of Massive Offer:-
"Compulsory Licensing" requires very poor international locations like Kenya, Uganda or South Africa- not able to copy patented medicines to battle scourges like Aids-importing more affordable copies from India. The involved governments will have to positive public d to individuals who require this sort of medicines and thus money desired for Imports. Hence the troubled nations will have to depend on abundant region donors to discover tho cash. Alternatively, they're able to method world bodies which happen to be yet again funded by wealthy nations around the world, As a result, Though the margin (big difference in costs between patented medicine stop Indian copies) could be quite large, they're not really "rewarding" markets. There are also at the vexed queries of red tape and authorities inefficiency.
Check out Ourselves:-
In India, to stop and reduce the distribute of Tuberculosis There's presently set up a framework for Right Observed Therapy Small-course (DOTS), overseen by several earth bodies and our govt. The developing number of tuberculosis circumstances, coupled with Hello V/Aids, locations an enormous stress on tuberculosis Regulate actions, The Indian pharmaceutical marketplace does not look at the prospect ("No sale of above-the-counter prescribed medicines") - with relish. Possibly, there is a lesson In this particular : not a moral lesson (involving wrong or right) but an moral one (involving fairness or unfairness). You will find there's Restrict on income for drugs fighting public scourges, especially in poorer nations. Maybe, there is not any scope for "sadistine" satisfaction in Other individuals' misfortunes.
Medicines for prosperous (and poorer countries too:-
Ailments afflict persons in loaded international locations also. There's two separate kinds of huge prospects below.
To start with: For your study-oriented Indian pharmaceutical organizations like Ranbaxy, Dr. Reddy's and several others innovations (and shipping and delivery) of new medicine are not a risk but a actuality, They'll have an interest In defending their IPR through suited patents.
Second: A lot of drugs are heading off-patent in the US market place very quickly, Put simply generic versions of such drug is usually made by anybody, legally-When they can easily do so. Plus the Indian pharmaceutical corporations - several of these have the ability to do ao in one of the most Price tag-aggressive way. Over the first six months on the calendar year, thirty four Indian corporations manufactured fifty 8 filings (called Drug Grasp Information-DMF's) much more than the put together whole of another 5 nations. (Itally 21, China 10, Israel 9, Hungary 9 and Spain five). Outdoors the US, India h thu maximum number of FDA authorised producing crops. In reality, the number of this sort of facilities is almost equivalent to that of approved plants in the US.
Beware Bulk Generic medication
Manufacture of bulk generic medication is, nevertheless, not a bed of roses. Indian companies manufacturing Penicillin are mortally afraid about imports of the identical from China (which can be less expensive) and want security as a result of tariff barriors elevated from the Indian authorities This won't be attainable under the WTO rogime for almost any length of time.
Constitutional And Authorized Facets Regarding IPR On Trade And Products and services:-
Mental residence rights drop beneath product 49 of listing I Union list of Seventh Program towards the constitution. The item reads patents, innovations and layouts, copyright, trademarks and merchandises marks. Patent is that's why a union topic. Protection of patent proper was initial released in 18th century. The Patents Act, 1911, released formal security of patents rights. In Biswanath Prasad Vs Hindustan Steel Industries [ 1982 CS 144 (1979)] the Supreme Court observed, "the article of Patent law will be to inspire scientific exploration, new engineering and Industrial development. Grant of exceptional proper to have, use or market the tactic or product or service patented for just a restricted time period stimulates new innovations of economic utility. The price of the grant of monopoly will be the disclosure of the invention for the patents Office environment which immediately after expiry of your set period of monopoly passes into general public domain".
Globe Intellectual House Organisation (WIPO), one of the 16 specialised companies of
(United Nations Organisation)UNO, wan recognized in 1970, WIPO with headquarters at Geneva, Switzerland, turned en company of UNO in December 1974, and It administers 23 Intercontinental trea ties addressing mental assets safety.
Global patenting associations are based upon Paris Conference 1883 for defense of intellectual home. Paris Conference is really a multilateral treaty masking Patent Cooperation Treaty (PCI) administered by WIPO. PCI presents for the next:-
a) Filing only one software in a single language and Global Search which supplies a report on previously released software;
b) Centralized publication and selection for Worldwide preliminary evaluation.
c) Seeks defense in a specific place.
Two essential amendments of the Indian Patents Act 1970, viz., the patents (Amend- ment) Act, 1999 plus the patents (Modification) Act 2002, created not too long ago seemed to be of utmost tries to regulate Patent Law Along with the Intercontinental standards laid down because of the Visits Agreement as Section of Uruguay Round of multilateral trade negotiation. The whole record of Indian patent legislation was a background of adjustment While using the west permitting them to training the economic and Import monopolies. Since the Paris Conference, 1883 the West in order to shield Industrial home and to promote enlargement of trade monopoly adopted quite a few insurance policies; and considered one of this kind of procedures relevant to intangibles which include patent legal rights, Due to the fact, they visualised which the East and other portions of the World would not be productive in Procedure imperialism. Intellectual home (IP) was regarded as a splendid approach for use for this, laid the initial foundation of prosperous unification in between the patents legal rights and the company monopoly, Which ultimately led for type (Basic Arrangement On Traiffs And Trade)GATT in themId Indian Patent legislation was almost nothing but the fruits, of joint exertion exorcised with the GAIT end MNCS.
Valuation Of Mental Property:-
It is highly tough to price it since it is extremely uncertain to estimate the anticipated stream of potential Advantages we're going to derive from it.
This paper is about valuing IP property; it can be regarding how these belongings must be valued in the context of exterior economic reporting. The era of useful estimates of lP price is additionally of crucial worth inside the context of inner reporting. But inner reporting necessitates valuation parameters or indicators that happen to be unique from Those people employed for the objective of exterior reporting. Inner reporting is exterior the purview of this paper.
Asset Valuation Practices
Asset valuation First off needs asset recognition. Belongings are regarded inside the accounts whenever they meet up with the definition and recognition tests. There are 2 principal techniques to valuing assets in accounting: input tactic and output tactic. Underneath input solution, the worth of an asset is set dependant on the expense inputs which have gone, or should have long gone, into its earning. The output technique, on other hand, seeks to determine the worth of the asset according to what is usually recovered from it both from its outright sate or from its ongoing use in organization operations. Despite the fact that both of those methods are presently in use, the enter tactic normally takes the main spot of curiosity. Under the present GAAP, historical Expense is the primary foundation of valuation for the majority of assets. In recent years There have been a bent to the accounting common setters to prescribe current benefit measurement in some places, but historic Price tag-driven valuation is still the predominant valuation basis in accounting. Asset valuation in accounting is guided by two principal issues,relevance and dependability. The values assigned to your belongings described to the harmony sheet must be pertinent and responsible. If there is a conflict among relevance and reliability, the latter wins around the previous. Due to the fact historic Price- based mostly values are derived from earlier transaction fees, they simply move the trustworthiness check. Historical values are adjusted downwards when You can find proof of impairment of price. But upward changes frequently are certainly not permitted. Nevertheless, in some jurisdictions, upward revaluation is permitted when certain specified circumstances are satisfied.Commonest illustration would be the valuation of "Land & Developing".
Why IP Property Want a special Valuation Tactic ?
Accounting Regular 26 And Worldwide Accounting Standard(IAS) 38,includes valuation of Intellectual Property.
The transaction-Value dependent tactic is inconsistent Using the position of IP assets. Acquired IP belongings could be valued dependant on transaction costs, but valuing internally made IP assets In line with past transaction fees will not be a feasible proposition. Normally the transactions that give increase to an lP asset cannot be objectively discovered. Such as, patents formulated over a lengthy interval have no identifiable prices. Regardless of whether The prices of building an IP asset are recognized, Individuals expenses may well not bear any connection to your asset's precise benefit. This is an important motive why most internally created lP belongings are not documented to the stability sheet. Accounting typical setters are grappling with The difficulty, even so the mismatch between accounting principles and the suitable valuation of IP and related belongings continues to exist. They are however to create an acceptable basis for fixing the challenge of trade-off among relevance and trustworthiness.
lP property are various in many considerable respects from the standard belongings. Most of IP assets are contexts certain. In most cases, the true value of an lP asset relies upon to a terrific extent upon the ability of the corporation proudly owning the asset to make the most of it competently and effectively. The value in most cases also is dependent on the flexibility of the business to exclude others from using the asset. Due to this, it gets. typically hard to identify dependable ways of assigning values to IP property. Considerable study in recent years has gone into solving the issues of valuation of lP and other intangible belongings and, consequent upon which, some valuation models have been created (e.g., Intangible Assets Monitor of Sveiby, the Skandia Design and the Well balanced Scorecard of Kaplan and Norton). But none has obtained widespread acceptance.
Choice Valuation Methods:-
There are a selection of tested ways of valuing IP. When picking a valuation process a corporation must first of all ascertain how the asset getting valued will build benefit for it. An asset may create price for its owner by creating extra revenues, by conserving expenditures or by giving aggressive gain. It's the way an asset creates value for your operator which must pick which valuation strategy is always to be adopted. An summary of possible valuation approaches is offered beneath.
(1) Discounted Hard cash Movement(DCF) Solution:-
The DCF solution is considered as a really perfect solution for valuation of assets. At one of the most basic stage, the worth of the asset is decided by 3 aspects; just how much it is predicted to make in income flows; the timings of technology of People cash flows; as well as degree of uncertainty connected to the money flows. The DCF method can take into account all these aspects. Underneath this strategy, the value of an asset would be the discounted current value of its approximated long term hard cash flows. To apply this valuation method it's important to look at the circumstances underneath which the lP asset will probably be utilised also to establish an agreed basis for projecting upcoming earnings and expenses connected for the asset. The projected quantities are then discounted by implementing an appropriate discount variable. The good results of the solution depends on the accuracy with which the long run money movement projections are created.
(2) Excessive Running Revenue Approach:-
The surplus working revenue approach decides the worth of the IPR asset by capitalizing the excess gains the company expects to create with the help in the asset. There are various ways that the excess earnings may very well be calculated. 1 attainable technique for computation of this sort of revenue is to create estimates of profits the company would get paid with no asset.,i.e. to state the income the business would earn in the traditional study course of organization experienced the IPR being not inducted into your business.
(three)Substitution Expense Method:-
This technique seeks to price an IP asset by quantifying the sum of money that might be necessary to exchange the asset or developing an equal asset. The replacement Value approach is predicated on the belief that there is some romance in between Charge and price.
(four)Market place-Based Tactic:-
The market-centered tactic values IP property by planning to the costs of similar belongings which have been traded in between well-informed parties at arm's size within an Lively market place. If it is achievable to establish transactions that happen to be precisely similar, the technique will operate satisfactorily well. But generally the hunt for a similar transaction proves to become a futile exercise.
(5)Price tag/Royalty Financial savings Tactic:-
The price savings strategy values savings that the company expects to help make on account of possessing the IP asset. In the event the company proudly owning the asset is in a position to work out the costs it has saved on account of introducing the new asset, it can easily arrive at a foundation for assigning an correct benefit towards the asset. Beneath the royalty financial savings tactic, the business should be to create estimates as to your quantities of royalties it would have to pay if it were to license an asset to crank out the return it truly is earning on the prevailing asset.
(six)20-five % Solution:-
The "twenty-five %" procedure is Employed in many conditions to value patents and technological know-how. The strategy is predicated on regulations of thumb. Less than this technique, the worth of the lP asset is computed as becoming equivalent to 20-five per cent of the gross earnings gained on items that utilize the services of the asset. The validity of your procedure is tricky to verify.
(seven)Solutions-Centered Approach:-
The choices-based mostly tactic involves the usage of the principle of possibilities in assigning price to IP assets. Choices-based method is presently Employed in valuing money derivatives. But the options-primarily based valuation product can easily be prolonged to other groups of property. The owner of the intellectual assets has several different possibilities concerning how He'll make use of the asset. Alternative pricing models make an effort to estimate the economic values for every of those achievable choices.
The selection of valuation strategies really should not be arbitrary. It should be based on the corporate qualities and Incidentally during which the corporation delivers its services. If the value attributed to lP property cannot be integrated in to the equilibrium sheet for specialized explanations, the information may be presented with a supplementary basis. But This could be finished in a systematic and consistent way.
Assigning a price on lP belongings is often a hard task. It's really a difficult work especially when the training must be finished in the context of preparation and presentation of exterior economic statements. However the accounting occupation really should be ready to ac cept the obstacle. It should advertise actions for revamping the present accounting technique. The prevailing economical reporting hole caused by the failure from the accounting
method to acknowledge crucial assets has to be shortened. Energy must be designed to discover to it that economical statements deliver an exact portrait of corporate means.
Mental House RIGHTS IMPLICATIONS FOR Building Nations
Most countries purpose at encouraging innovations by framing legal guidelines to regulate the copying of Ideas, innovations, literary together with other Artistic expressions, exclusive names, busir. modo Industria proco symbols, Personal computer system codes, etc. 4 separ and dlstinct varieties of intangible property, viz., patents, emblems, copyrights, and trade tricks are together often called intellectual assets (IP), IP Is for that reason any solution of human Intellect that is exclusive and un-apparent acquiring some marketplace price. IP has many of the features possessed by genuine and private property. Even so, the most significant difference between IP and various kinds of assets is IP is Intangible and as a consequence It cannot be outlined or determined by Bodily parameters. It should be expressed in some attribute method so as to be protected.
Given that PP Is surely an asset, It can be purchased, offered, certified, exchanged, or gifted absent like another variety of property, Yet again, the owner/creator of the lP has the ideal to circumvent the unauthorized use or sale of this kind of home, Every one of the 4 different types of PP are safeguarded by countrywide governments by conferring legal rights to IP Mental assets legal rights (IPRs) are outlined as 'rights specified to individuals in excess of the croations in their minds' (WTO) Web-site TRIPS material). Because IPRs are guarded by national governments, the scope of defense and the requirements for getting safety will vary from a person region to another.
In the made planet there exIsts a robust lobby of individuals who feel that all IPAs are very good for enterprise, advantage the general public at substantial and work as catalysts for soclo-financial conclusion technoloqical development. In the developing world, there exists a strong check out that lPRs are prone to cripple The purpose of national Industry and technological know-how, harm the folks and gain only the designed entire world. The entire process of implementing the Trade-Related Facets of Mental House Legal rights (Outings) hasn't resulted in cutting down the hole between both of these sides. In fact, It has served to reinforce the opposing arguments in existence. Those people who are in favour of extra IPRa and also the creation of a level enjoying file/previous contemplate Excursions as a useful tool with which to obtain their objectives. But individuals who perspective IPRa as damagIng for creating nations think that the economic enjoying subject which was by now uneven right before has become far more unequal Together with the introduction of Excursions.
The designed earth has approved and modified to lPRs considering that prolonged. However some moments the negatives of IPR8 are a lot more than their rewards, almost all of the international locations
while in the produced globe are economically strong more than enough and also have effectively-created lawful mechanisms to take care of the issues Included. Once more, Those people international locations have satisfactory countrywide wealth and infrastructure to capitalise on the alternatives offered when advantages of IPRS are in excess of their down sides. But, in all chance, this isn't legitimate In the case of acquiring nations.
The difficulty is how national IPRs is often developed that has a see to benefitting the producing international locations to the most extent. Arduous criteria regarding IP so tar as being the building nations are concerned really should not be insisted upon in advance of an objective evaluation is made from the Influence of these types of specifications on progress. Building nations around the world may well discover lPRs practical only when they are accommodated to accommodate nearby ailments plus the Worldwide establishments and every one of the nations around the world, the two developed and building, require to take into account that.
The advocates of IPRs, particularly People in business enterprise and governing administration in the created countries, are of your see that IPRs help to stimulate financial development and reduce poverty during the establishing international locations in precisely the same way as within the made international locations, Nevertheless, folks from distinctive social quarters inside the creating nations around the world have rightly identified the fallacy & this argument. They may have categorically said that IPRs can help to generate invention In every one of the creating nations around the world because the requisite human and technological ability may perhaps, in all probability, not constantly be existing. Opposite for the assertion of your proponents, lPRs have lead to extend in The prices of critical medicines and agricultural Inputs, and have manufactured life tough to the lousy individuals, which include farmers, within the creating countries.
The scope, extent, and role of IPR security have expanded at a really quick charge over the past 20 years or even more. lPRs have already been established to address numerous new systems, viz., info technological know-how and biotechnology and a large number of patents happen to be taken notably with respect to genetic products. Bare minimum standards for IP security are actually produced international as a result of the World Trade Organisation (WTO) Settlement on Visits. In depth discussions are also occurring on this planet Mental Home Qrganisation (WIPO) in order to harmonise the patent program even now further more, This aside, bilateral or regional trade and financial commitment agreements between the designed and acquiring nations usually address mutual commitments to put into action IP regimes surpassing the least requirements established by Visits. Because of this the establishing international locations are beneath continuous pressure to increase the levels of IP security in their particular nations at par With all the criteria set during the developed international locations.
Even in created environment, apprehensions are there concerning the functioning of IPR
devices. In latest occasions, software for patents has increased manifold and it is staying perceived that numerous patents of very poor quality and/or obtaining too broad scope are now being issued. There's also the likelihood a large number of companies could have to spend sizeable period of time and revenue if you want to find out how or whether or not to hold on research with no infringement of Some others' patent rights, or enabling Other folks to infringement upon their own individual patent rights The advantages arising from such expenditure of time and expense have to be weighed against the large expenses involved in patent litigation and initiatives needs to be built to lower these non-productive/a lot less-successful expenditure.
These apprehensions about u effect of IP are Similarly genuine for the building world. Additionally, the acquiring nations really should be careful with regards to the immediate effects which the IP devices In designed nations may have on them, e.g. the creating countries may not be obtaining the main advantages of analysis operate (on some Significant matters severely influencing them) that are increasingly being performed in the produced earth. All over again, the creating international locations are increasingly being mainly deprived in their authentic share of benefits arising from commercialisation in their understanding/assets if these are typically patented from the produced nations around the world.
A vital stage to think about is if the guidelines concerning IP protection and institutions entrusted with their implementation which have progressed to date in the produced international locations can in the slightest degree be useful for your developing nations In the entire process of their socio-economic growth and notably within their efforts toward poverty alleviation.
In certain social quarters You will find there's sturdy perception that IP security of some variety can be useful for your developing countries as it may well motivate them to create inventions and create new systems that should ultimately be beneficial in their soclo-financial envi rons. But that can lead to higher costs for the buyers along with other customers of such shielded systems. It consequently gets to be required to take into consideration no matter whether the advantages outweigh The prices. This, subsequently, will rely on the nature of software of IPRa and also the socio-economic problems in vogue in the nation in which they are now being utilized. There fore, IP defense specifications, benefiting formulated countries, could possibly be disastrous for building countries Considering that the latter have to fulfill even their primary desires mainly by drawing upon the knowledge formulated in other countries, particularly the designed types.
The problem inside the developing countries is fairly distinct. While it can be real that the vast majority of acquiring nations usually are not technologically extremely Innovative, they do have incredibly abundant understanding created more than the generations and useful resources of assorted types ; can gain not merely their China Ultimate Beneficial Owners own personal international locations but the globe at big, The fundamental query that arises is whether the IP methods to date produced while in the formulated world can assist to shield these types of know-how and broad means and guarantee justice for their homeowners.
Within the point of view of The federal government, conferring on the IP ideal is usually a make any difference of public plan and for this reason the IP coverage ought to be so created that the profit to society (in terms of enhancement in simple services and infrastructure and technological innovation) need to out-weigh the associated fee for the Culture (concerning the high Price for being paid through the buyers and the price of administering the technique). But the point is that the IP proper Itself becoming a private one, the monetary Advantages and expenses fall on distinctive social teams.
An IP appropriate could possibly be seen as a means for enabling nations around the world to aid the enjoyment of fundamental socio legal rights. IPRs really should under no circumstances be allowed to dominate more than the elemental human rights. Actually, IPRs (e.g., patents and copyrights), granted by governments, are short-expression in nature but The essential human rights are inherent towards the individual. Regrettably, today typically, lPRs are taken care of as financial and industrial legal rights held through the corporations in lieu of personal inventors. The granting of such
rights as well as their application inside their developing international locations will, in all chance, advantage the holders of your lPRs on the expenditure of the basic human rights with the poor men and women of your
building nations around the world who'll be largely be deprived of even The fundamental necessities of lifetime because of the substantial prices involved.
The trouble is the fact, the pursuits from the homeowners/creators of IPs continue on to dominate
the formulation of lPR insurance policies, and people of the final word consumers are pushed towards the hedge. The establishing international locations run from the weaker situation when negotiating with the developed countries in matters relating to lPRs, Thus, plan makers should really seriously study the probable consequences of implementation with the IPRs on the last word buyers ahead of going for additional extension of IPRs rather than simply looking after the passions on the proprietors/creators of lPRs,
The crux of the whole detail is that the commercial pursuits in the created environment generally are available in conflict Using the developmental requires on the creating nations around the world. What is significant is too substantial IPR requirements really should not be indiscriminately imposed within the acquiring nations and applicable technologies really should be produced accessible to them at aggressive rates. The producing countries also ought to strongly set up their leads to in various world forum and international locations like India and China are envisioned to Perform a leading position in this respect.