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Exhaustion of IP: A Tool for Competition

The purpose of Intellectual Property (IP) is not merely to create monopolies but also to ensure dissemination of knowledge and information. To attain this social end IP regimes has built in mechanisms one of which is the doctrine of exhaustion. Exhaustions of IP rights is a situation where the law presumes that IP rights in relation to a particular article ceases and it becomes like any other tangible property that is capable of movement and transfer without any added fetters. This paper looks into the different kinds of exhaustion policies available and which should be adopted by countries to ensure that competition in market of that particular product is ensure that maximum.