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The role of intellectual property rights and international transfer of technology in fostering the economic development: the case of China
(2022) Tomșa, C.
The significance and role of the intellectual property rights (IPR) evolves each year in dependence of the country economy. By striking the right balance between the interests of innovators and the wider public interest, the IP system aims to foster an environment in which creativity and innovation can flourish. Companies are attentive when it comes to identifying and protecting intellectual property because it holds such high value in today's increasingly knowledge-based economy and stimulates domestic economic growth. Also, producing value intellectual property requires heavy investments in brainpower and time of skilled labour, which means that increasing the inbound of foreign direct investment could determine the rise in the R&D expenditure from the GDP. This translates into heavy investments by organizations and individuals that should not be accessed with no rights by others.