Legislative background of the FTA between colombia & the U.S: Intellectual property on the pharmaceutical market

Abstract

The Free Trade Agreement (FTA) between the U.S. and Colombia has been the subject of constant debate with respect to intellectual property. That is why through this article we will try to study the topic. In the first part of the text we will evaluate the historical development of the intellectual property up to the present or modern concept we have of it. After this, we will consider the most important elements in the negotiation of intellectual property given by the bilateral dialogue between the U.S. and Colombia. To achieve this goal, there will be a critique of how United States has imposed its own policy of intellectual property all around the world, therefore to shield their patents’ power in the pharmaceutical drug industry that “coincidentally” is originated in the US country. This way,United States of America will have the ability to control the millionaire medicine market.