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Biodiscovery and Intellectual Property Rights: A Dynamic Approach to Economic Efficiency

  • Tom Dedeurwaerdere

    (Centre de Philosophie du Droit (CPDR), Université Catholique de Louvain, Belgium)

  • Vijesh Krishna

    (Faculty of Agricultural Sciences, University of Hohenheim, Germany)

  • Unai Pascual

    ()

    (Department of Land Economy, University of Cambridge, UK)

This paper examines the use the use of economic incentives for knowledge generation through biodiscovery, in the particular case of the use of a highly valuable biogenetic resource stock from the South for industrial/research input. The focus is on a dynamic approach to contracting and property rights building upon insights from institutional and ecological economics. Two important conclusions come out of this analysis. First, it highlights the necessity to go beyond standard market approaches to economic valuation in order to address the issues of future possibilities of use and innovation and the integration of the different stages in the process of value creation. Second, it shows the necessity of developing alternatives to the current intellectual property rights regime, including systems for appropriate protection of the traditional knowledge of local communities.

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Paper provided by University of Cambridge, Department of Land Economics in its series Environmental Economy and Policy Research Working Papers with number 13.2005.

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Date of creation: 2005
Date of revision: 2005
Handle: RePEc:lnd:wpaper:200513
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