Patentism or Protectionism

George Monbiot a well known trade theorist and widely-read columnist with 'Guardian', shares his vision of future with Tanu Thomas in Times of India's Q&A section last thursday. He discusses how the rich nations of this world are bullying poor and third world nations in the name of 'free markets' and how for the first time the developing nations showed their unity at the recent Cancum convention. His sites the example of Intellectual Property Rights and Patentism.
" The rich world has used its bargaining position to demand extraordinary concessions for its corporations. The classic example is the agreement on trade-related Intellectual Porperty Rights. 97% of patents are owned by coporations in the rich world, and it will cost poor nations $40 billion a year in licence fees, half of which will be payable to companies based in US. In return, it is very hard to see what the poorer nations have gained."