Question

Q. With reference to intellectual property rights, consider the following statements regarding Compulsory Licensing:

Select the correct answer using the code given below:

• A.
  1 only
• B.
  2 only
• C.
  Both 1 and 2
• D.
  Neither 1 nor 2

Answer 1

The correct option is C

Both 1 and 2

Explanation:

Statement 1 is correct: Compulsory Licensing is a license or authorisation issued by the government to an applicant for making, using and selling a patented product or employing a patented process without the consent of the patentee.

Statement 2 is correct: The concept of compulsory license serves as an exception to the general rule under intellectual property laws which bestows exclusive rights on the intellectual property owner that it may license – or decline to license – to others over its patent or copyright.