@article{48793,
      author = {de Carvalho, Nuno Pires,},
      url = {http://tind.wipo.int/record/48793},
      title = {The Current System of Intellectual Property Rights Aims to  Promote Trade and Not Innovation},
      abstract = {This paper challenges three widely spread  misunderstandings about the international protection of  intellectual property: the TRIPS Agreement should not be  blamed for failing to promote invention in developing  countries because that was not its aim—its aim was (and  still is) to promote free trade of goods and services  bearing or displaying intellectual property. In this  regard, the TRIPS Agreement has actually been very  successful. Besides, the patent system should not be blamed  for its alleged inadequacy in fostering innovation. There  is no data that show the patent system works in one  direction or the other. The patent system is a proprietary  tool, a free market mechanism, and its purpose is to reduce  costs as regards the transactions involving inventions, as  compared to the significant transaction costs stemming from  trade secrets and the enormous transaction costs arising  from government patronage. Therefore, it is imprudent to  suggest that the patent system should be abolished in the  pharmaceutical field and replaced by open innovation and  prizes. These mechanisms are already available, and  inventors should be left free to select those that best  serve their interests.},
      recid = {48793},
      pages = {1 online resource (Chapter, pp. 199-208) :},
}