Problem
The World Trade Organization has begun to ask whether it is time to find a new balance between private rights (incentives to create) and public interest (ability to use or access the creations). They have also identified the need for a balance between the short term interests and the long term interests. Long terms interests consider the benefits derived from creations and inventions. This requires analysis of the time period for the intellectual property protection or monopoly period. The short term considerations include the incentives given to creators and inventors to invest their efforts in securing innovations. Where should we strike the balance and how do we make it happen?