All globalization needs to achieve success and slim down its negative side effects is regulation. At least this is what Professor Kamil Idris is saying. Professor Idris is an internationally renowned expert in globalization, intellectual property, and international law. A Sudanese national. Professor Idirs is the current President of the Internatiol Court of Arbitration and Mediation. One reason he gives for the trouble many nations have with intellectual property, is that IP infrastructure is not as strong as it needs to be.
The primary reason is that globalization is still a fairly new concept. The interconnectivity of the world bears great benefits, but it also opens up a nation’s innovation to theft, piracy, and counterfeiting. Not to mention globalization has also increased the amount of patents being submitted, which has created a huge backlog. Bigger nations have the ability to buy out patent purchasing, keeping smaller developing countries from even being able to participate. Such problems are the result of no regulation. This is why Professor Idris advocates for tougher IP infrastructure.
A stronger more secure infrastructure better protects intellectual property, but also allows for legislation to allow all countries to take part. Regulation provides a levelling of the playing field which benefits all nations, and allows the world to take part in all developments. Regulation would aid the current riff between China and United States.
China reportedly is guilty of a lot of intellectual property theft for the U.S. According to the New York Time the U.S. looses intellectual property at an alarming rate. Around $600 billion dollars lost every year, and China makes up a good portion of that. Stronger infrastructure would protect the U.S., and allows it to keep its IP as well as profit from China’s use of it. This is also beneficial as it gives nations avenues to share, and profit form that sharing. Basically, in the wake of globalization the nations of the world have to learn how to play nice.