Protecting Traditional Medical Knowledge in China

This study examines the barriers that hinder commercial transactions of traditional medical knowledge (TMK) based on a case study of an indigenous community in China, and establishes an economic rationale for designing an optimal regulatory framework for TMK protection. A comprehensive sui generis regime for TMK protection is proposed to address the market failure that results from a lack of incentive to participate in market transactions of TMK. It is proposed to confer a new right (TMK-right) to TMK holders to ensure that they are adequately protected and receive fair compensation relating to be benefits derived from commercialising medical applications based on TMK.
 
This study examines the barriers that hinder commercial transactions of traditional medical knowledge (TMK) based on a case study of an indigenous community in China, and establishes an economic rationale for designing an optimal regulatory framework for TMK protection. A comprehensive sui generis regime for TMK protection is proposed to address the market failure that results from a lack of incentive to participate in market transactions of TMK. It is proposed to confer a new right (TMK-right) to TMK holders to ensure that they are adequately protected and receive fair compensation relating to be benefits derived from commercialising medical applications based on TMK.