INTERNATIONAL/ ECONOMY/ GOVERNANCE

Topic:

Intellectual property waiver for Covid-19 vaccines

Context: The United States recently announced support for waiving intellectual property protection for Covid-19 vaccines, saying extraordinary circumstances call for extraordinary measures.

All 164 WTO members must agree on the draft, and any one member can veto it. The European Union, which had earlier opposed the waiver, has now stated its intent to discuss the US-backed proposal.

What are patents and IP rights?

What does the intellectual property waiver for Covid-19 vaccines mean?

What are the deterrents for the waiver?

Besides patents, what are the other roadblocks to scaling up production?

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