Reforming Patent Law: The Case of Covid-19

ABSTRACT

A short time ago the debate over the proposal to temporarily waive intellectual property rights on Covid-19 vaccines was raging worldwide;and the suspension of those rights seemed imminent. Public attention reached its peak in May 2021 when the Biden administration endorsed the idea and committed itself to pursuing it under the World Trade Organization–World Intellectual Property Organization (WTO-WIPO) procedural rules for waiving intellectual property (IP) protection. By suspending IP rights, the administration sought to help low-income countries to start producing vaccines more quickly, reducing the rising and dramatic worldwide vaccine inequality. © Cato Institute. All rights reserved.