Introduction:
In recent decades, intellectual property in general and patents in particular have taken on increasing importance to the development and functioning of the global economy. As actors in all aspects of commerce come to appreciate the substantial role patents play in the functioning of the world's economy, business, and markets, it comes as little surprise that patents are increasingly being seen as subject to regulation, control, and correction of suspected "market failure" that other economically significant assets have long been exposed to. In recent years the propriety of and circumstances under which patents may and should be subject to compulsory licensing has been a global hot topic.