From Unilateralism to Multilateralism: WTO Mediation of Legal and Financial Challenges in International Intellectual Property Disputes

Abstract

The research aims to discuss a shift from unilateralism to multilateralism in the process of mediating international intellectual property (IP) disputes particularly referring to the World Trade Organization  (WTO). It focuses on the history and previous actions of major economies and the background to the establishment of the WTO's Dispute Settlement Mechanism (DSM). It explains several major legal problems including conflicts of jurisdiction, inequality of IP protection between participating countries, and existing gaps in IP protection because of the fast development of technologies. Concerns about financial aspects are also analyzed including litigation costs, simultaneous legal proceedings in different countries, and decreased economic activity as a consequence of inadequate IP protection. The research also looks at the contribution of the Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement in handling IP disputes discusses the use of punitive damages and analyses how different territories have applied punitive damages as a tool of compliance and enforcement. Thus, using specific examples of the United States, European Union member states, and India involved in disputes with China, the research assesses the role of the WTO's DSM in addressing these issues. Therefore, the results shed more light on the WTO's functions to increase awareness of compliance with the international IP standards to improve the legal and financial performances of the parties involved and facilitate a stable global trading environment. The research presents some recommendations for the existing situation including increasing the speed of the dispute settlement procedures and strengthening cooperation with other international organizations towards betterment of the IP protection.