("This paper was awarded first prize in the Sir Dinshah Mulla Legal Essay Writing Competition 2011 and thereafter published in the annual college magazine of Government Law College, Mumbai".)
“The
aim and objectives of patent and antitrust law may seem, at first glance,
wholly at odds. However, the two bodies of law are actually complementary, as
both are aimed at encouraging innovation, industry and competition.”[1]
Introduction
In today's economy, companies must innovate if they wish to
succeed and endure. The emerging scenario in India appears to be one of
domination of industries such as information technology, communication and
other knowledge based industries. Companies generate capital and
employment by producing new ideas and incorporate them into products to give
rise advanced products which the consumers have not only not seen but not even
imagined. Consumers, in turn, benefit enormously from these innovations. Hence,
it is of the utmost importance that our economic laws, including Anti Trust and
Intellectual Property Laws, create a legal environment that fosters and does
not suppress innovation.
