Final Answer:
The proposed duration for patent protection is 5 years. (option 1)
Step-by-step explanation:
Reducing patent protection from the current standard of 15 to 20 years to 5 years or even 30 months is a topic of significant debate, particularly in the context of international trade agreements. The proposed duration of 5 years reflects a desire among many smaller and developing nations to strike a balance between encouraging innovation and ensuring more timely access to technologies.
In this context, a shorter patent duration, such as 5 years, is seen as a means to accelerate the entry of generic alternatives into the market, fostering competition and potentially lowering the costs of patented products. However, this proposal also raises concerns among innovators, as a shorter protection period may impact their ability to recoup investments in research and development.
The debate over patent duration involves a complex interplay of economic, legal, and ethical considerations. Striking the right balance is crucial to promote innovation, ensure access to essential technologies, and address the healthcare and economic needs of diverse nations. (option 1)