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Exhaustion
In intellectual property protection, the principle that once a product has been sold on a market, the intellectual property owner no longer has any rights over it. (A debate among WTO member governments is whether this applies to products put on the market under compulsory licenses.) Countries laws vary as to whether the right continues to be exhausted if the product is imported from one market into another, which affects the owners rights over trade in the protected product.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Economy
- Category: International trade
- Organization: WTO
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