Developments on IPRs & Trade in European Union

The digital economy is central part of transformation based on the diligence of cyberspace-based technologies. MNEs play a crucial role in global economy linking rich and poor economies and transmitting capital knowledge ideas and value systems across borders and so interacting with institutions organizations and individuals MNEs cause positive and negative spillovers for stakeholders in host countries. FDI is a source of private external finance to the host economy contributing to the state’s capital formation in the form of corporate tax revenues permitting transfer of technology and innovation and so tolerating the host economy to catch up with technological and managerial enhancements absorbed by the rest of the economy for fuller productivity influence. IPRs granted by patents copyrights trademarks etc. perform a significant role in promoting innovation and sustaining economic growth by allowing their holders to keep out for a limited amount of time other parties from the remuneration arising from new knowledge and from the commercial use of innovative products and developments based on that new knowledge.