Reinforcing the Role of Intellectual Property in the Battle Against the Pandemic: The Vowel Framework

Authors

Daniel S. Hofilena, De La Salle University, Manila, PhilippinesFollow

JEL Classification System

O34 , K20, K49

Abstract

The intellectual property (IP) system plays a vital role in public health crises as everyone should have access to medicines and equipment to protect themselves. Thus, the State can utilize the system for the greater good. An IP-centric approach can be summarized using the simple letters of the vowels: Awareness – for the populace to respect IP rights, they must first be educated as to its value; Enforcement – for infringers to be discouraged, IP holders should have an avenue for the easy enforcement of their rights; Incentivize – for businesses to be encouraged to invest in certain forms of IP, the State should grant fiscal/non-fiscal incentives to key industries; Ownership – for researchers and educational institutions to bloom, there must be a well-defined ownership structure for intellectual property; and Utilization – for the public to benefit from the protection granted to private entities, such inventions must be utilized in a fair and reasonable manner. The paper provides a discussion on the challenges and opportunities of the Intellectual Property System in the Philippines and provides suggestions to fine-tune the intellectual property system to serve as an incentive mechanism to align private motives for innovation with the preferences of society.

Recommended Citation

Hofilena, Daniel S. (2021) "Reinforcing the Role of Intellectual Property in the Battle Against the Pandemic: The Vowel Framework," DLSU Business & Economics Review: Vol. 30: No. 2, Article 11.
DOI: https://doi.org/10.59588/2243-786X.1111
Available at: https://animorepository.dlsu.edu.ph/ber/vol30/iss2/11