Country: Nepal

Committee: The World Trade Organization

Topic: ANALYSING THE ROLES OF CRYPTOCURRENCY IN GLOBAL TRADING
Intellectual Property ( IP) is an essential tool for the economic development of any country.
In Nepal, people are not encouraged to illegally copy other creative activities coming out
from academic and research organization as well as technical professionals who produce
literary , artistic,musical and scientific creations. The quality of IPR protection and its service
delivery is extremely poor. The diverse topography , climatic variation and richness in
biodiversity of Nepal have attracted foreigners who are in search of opportunities to our
traditional and indigenous knowledge. We need to make move to secure our . We should
systematically document our indigenous one under the name of local institutions. These
days, some people work as pressure group to speak their mind , they continously discuss
with the concerned individuals at the goverment level and providing policy suggestions, this
group was established in 2012.They have been able to conduct awareness programmes and
provide policy suggestions.
Compared to other developing country,the quality of IPR protection and its service delivery is
extremely poor in Nepal. Nepal ‘s goverment is not able to update or reformulate the
existing law in accordance with the various global treaties that it has signed has affected the
security of IP in the country.Many people are unaware of that they are buying fake products
that come with internationally established brand names and trademarks .Any legal action in
enforcing trademarks is also difficult.Recently, the authorities planned to raid a factory with
an alleged connection in activities related to the counterfeiting of foreign trademark. But the
authorities were only able to take cation against the low level distribution channel, whereas
the high level channel was left untouched due to pressure exerted upon the.
Patent rights have a limited life , after a patent validity expires , its right automatically passes
into the public domain and anyone can use it without the consent of creator, but in case of
traditional knowledge or geographical indications , they should be granted protection for an
infinite period . The new law should provide adequate protection for these forms of IP as
well.