The Issue of Property Rights in International Trade: Evidence from Case Analysis of South Korea and Bangladesh

Abstract

Secure property right is a necessary condition for economic prosperity of a country. It affects an economy in various ways one of which is the international trade. Country with high risk of right infringement cannot attract entrepreneurs to invest in that economy. The resulting decline in production hampers international trade. Lax enforcement of rights can ensue from various different sources including lack of sufficient rules and laws and also court’s view in explaining these laws. The paper first, describes laws regulating intellectual property rights in Bangladesh and then analyses cases to show judicial interpretation of some laws. It then compares between South Korea and Bangladesh in respect of these two elements to figure out what is lacking in Bangladesh in protecting property rights. The paper finds that Bangladesh is lagging far behind than South Korea in terms of providing sufficient infrastructure to protect property rights. However, courts’ view on the scope of some intellectual property rights is similar to a great extent in both countries, which helps to conclude that Bangladesh should concentrate on increasing infrastructure to reap the benefits of secure property rights.