Are patents really conducive for economic growth in developing countries?
The exploitation or bio-prospecting in South Africa has already caused some waves in the country with the perception that local indigenous knowledge was exploited for tremendous financial gain which mostly does not come back to the community. Jonathan Berger, the head of law and treatment Access Unit, states that patent laws destroy innovation in the developing world. He further consolidated his contention by citing developing economies such as Korea and Taiwan which took advantage of weak patent laws to develop strong industries thereby stimulating growth.
