The East African Community (EAC) states recently adopted a policy on utilising the WTO-TRIPS flexibilities on public health. The policy spells out a number of flexibilities and the minimum standards thereof to be enacted in domestic legislation. This study critically reviews this policy. In doing this, the study notes that the EAC member states, like most developing states, have very low per capita income levels. The people are too poor to afford expensive medicines. At the same time, these countries are faced with peculiar, region-specific diseases, the so-called ‘African diseases.’ Already, these diseases have been neglected by foreign pharmaceuticals reluctant to invest in developing medicines for poor markets. There are no established pharmaceuticals in the EAC states. It is against this background that this research makes an argument against the aforementioned policy. It will be demonstrated that the policy is biased towards ensuring access to medicines through price-reduction, at the expense of patent protection. This approach is inappropriate because: first, given the absence of market incentives to invest in developing medicines for African diseases, the policy will only worsen the already bad situation since it undermines the strongest alternative incentive (patent protection); and second, such a policy will not only discourage foreign pharmaceuticals further but also suppress domestic pharmaceutical activity, which is undoubtedly necessary in view of the growing neglect of African diseases by foreign pharmaceuticals. / Dissertation (LLM)--University of Pretoria, 2014 / gm2015 / Centre for Human Rights / LLM / Unrestricted

This thesis explores the interplay between copyright and tertiary education, and their roles for sustainable human development in Ethiopia. Access to learning materials is used as a context for the exploration. Despite its recognition of development as a human and constitutional right, Ethiopia emphasizes economic growth as the core of its national development objectives. To this end, tertiary education is often considered for its instrumental role in human capital formation. Given this narrow lens of development, the thesis observes the neglect of human development as the enlargement of human capabilities. It is underscored that development-oriented copyright and tertiary education are both vital in themselves and complementary for sustainable human development. Nonetheless, their complementing roles depend upon relevant policy and legal flexibilities that facilitate access to learning materials. As a major context for the interplay, access to learning materials is essential for both sustainable creative innovation and quality tertiary education. Noting a restrictive copyright system as one of the impediments, the thesis thus inquiries into the regime and finds out the non-incorporation of relevant international copyright-related flexibilities. Adopting a TRIPs-plus approach, the existing national copyright law in Ethiopia has left out a number of legal flexibilities relevant for increased access to learning materials. Stifling creative and learning freedoms or capabilities, this has serious ramifications for sustainable human development. From human development perspective, the thesis further unveils lack of coherence in the regimes and proper orientations towards human development. Therefore, it is imperative to revisit the regimes, forge a coherence, and retract the excessive protection. A comprehensive integration of appropriate flexibilities is recommended to promote creative and learning capabilities for enhanced human development.

Magister Legum - LLM / Access to medicines is an essential component of the basic human right to health and a key determinant of the importance attached to the health care system of a country. It essentially entails the availability and acceptability of the essential medicines on the market and the ability of patients to afford such medicines when needed. Globally, countries face access to medicine challenges partly because of patents which undoubtedly accounts for excessive pricing of medicine. As such, efforts have been made to ensure the accessibility of medicines through the Trade-Related Aspect of Intellectual Property Rights (TRIPS) flexibilities of the World Trade Organisation (WTO). Beyond these interventions, it is incumbent on Members of the WTO to domesticate the flexibilities of the TRIPS Agreement before their utilisation because by their very nature, they cannot be self-executed. With an estimated population of 29.6 million, about 310 000 people in Ghana are living with HIV. The country’s health facilities record 40 per cent of outpatient visits each year and about 14 550 per 100 000 of the population are infected with tuberculosis with cancer on the rise. These diseases require medicines which are mostly patented yet Ghana has access to medicine problems despite the existence of a national health insurance system. Ghana has however not fully incorporated the TRIPS flexibilities in its national legislations and therefore unable to fully utilise the flexibilities as an option to access essential medicines. Questions therefore remain as to why and how Ghana can utilise the flexibilities to improve access to medicines. Based on an examination of the WTO’s patent system and legislations of Ghana, this mini- thesis contends that, the extent of incorporation of the flexibilities are inadequate due to the existence of lacunas in the Ghanaian legislations. Furthermore, a comparative assessment with South Africa supports an understanding that conditions are not ripe for full utilisation of all the flexibilities. It further argues that the utilisation of the TRIPS flexibilities by Ghana has been rendered ineffective due to administrative, political, economic and social challenges which adversely affects the full utilisation of the flexibilities incorporated and those yet to be incorporated. It is therefore important that Ghana adopts holistic approaches taking into consideration best practices if the TRIPS flexibilities must be effectively utilised. This mini-thesis concludes that, the TRIPS flexibilities are necessary for accessing essential medicines in Ghana to promote the right to health and that a review of Ghana’s current legislations to fully incorporate the TRIPS flexibilities and addressing other non-legal challenges are the required linchpin for effective utilisation of the TRIPS flexibilities.

The overall objective of this study is to promote the human rights to health of Nigerian women to have access essential medicines, to enhance their human capabilities for human development. This thesis argues for an improvement of women’s access to medicines within the context of patent law and rights in the international IP regime of the Trade Related Aspect of Intellectual Property (TRIPS) Agreement and Nigeria’s national patent system. Towards this goal, the thesis makes the point that patent law and its exclusive rights, both the TRIPS Agreement and national law of Nigeria, do not exist in a social welfare vacuum. The legal text of patent law, which confers rights on inventors when enforced, translates to many other things outside the sphere of property rights; indeed, it can be a matter of life and death. It is argued in this regard that patent right could, in effect, interfere with access to medicines and therefore, the right to health and prospects for human development. The thesis therefore argues that, in the construction, interpretation and enforcement of patent law in Nigeria, there is a need to take into consideration its impact on public health. It is against this backdrop that the research assesses the legal framework of pharmaceutical patents and the implications for women’s access to medicines, from a right to health and human development perspective. This interdisciplinary study is with a view to suggesting ways in which Nigeria’s patent system can be more human development and human rights friendly in the interest of public health, particularly, the use of the TRIPS flexibilities to enhance access to life-saving medicines in Nigeria. Since Nigeria as a member of the World Trade Organisation, is bound by its treaty obligation to adopt the provisions of the TRIPS Agreement, the thesis makes proposals for ways in which the Nigerian government and law-makers, can adapt the patent rules and the flexibilities to suit development objectives and promote public health within the benchmark allowed in TRIPS. In this respect, this thesis critically investigates the practical implications of the available flexibilities and options in the TRIPS Agreement that can be used to address the effects of patents on access to medicines. While this thesis concedes the view that the hindrances to accessibility of essential drugs in Nigeria are multi-faceted and demand a multi-dimensional approach for a lasting solution, it is specifically argued that the TRIPS flexibilities are significant means for addressing the challenges of affordable access to important health treatments within the context of patent law. However, it is emphasised that utilising the flexibilities will require that Nigeria’s patent system is strategically designed to take full advantage of the available safeguards and options. To this end, this study recommends ways to incorporate the flexibilities to enhance access to medicines in Nigeria while avoiding the technical and regulatory pitfalls that have trailed the enforcement of the flexibilities by other developing countries.

Submitted by Neusa Fagundes (neusa.fagundes@unioeste.br) on 2018-09-11T18:32:50Z No. of bitstreams: 2 Vanderlize_Dalgalo2018.pdf: 1394731 bytes, checksum: 28fbf965cb3bc9aa4dd27a96761073df (MD5) license_rdf: 0 bytes, checksum: d41d8cd98f00b204e9800998ecf8427e (MD5) / Made available in DSpace on 2018-09-11T18:32:50Z (GMT). No. of bitstreams: 2 Vanderlize_Dalgalo2018.pdf: 1394731 bytes, checksum: 28fbf965cb3bc9aa4dd27a96761073df (MD5) license_rdf: 0 bytes, checksum: d41d8cd98f00b204e9800998ecf8427e (MD5) Previous issue date: 2018-05-18 / This research had as object of research the graduate programs of the State University of West Paraná – Unioeste, located in the municipality of Cascavel, Paraná. With a view to the advancement of people with disabilities or special needs in access to Higher Education and highlighting the role of universities in the social context and in the formation of these subjects, in order to integrate, increasingly the society, a central question crossed by the object of study, generating the questioning about the pedagogical practices developed by Unioeste teachers to meet the demand of academics with disabilities or special needs, who are coming up to this level of education The objective is to identify, from the pedagogical practice of the teachers, if they are making adaptations and curricular flexibility in their methodologies and in the asessment instruments. The methodology used was descriptive, in a qualitative approach. It was developed, based on bibliographical references, documentaries and field research, using questionnaires and semi-structured interviews, with theoretical framework of the Historic-Cultural Psychology, as a support to understand the process of teaching and learning of the subjects involved in the educational field: teacher and student. The analyzes and results were based on content’s analysis of Bardin, in two categories: methodology and assessment instruments used by teachers in researched graduation courses. The results show that the Unioeste is carrying out the curricular adaptations and flexibilities. based on the methodologies, assessment instruments as well as the support provided by the Special Education Program (PEE), with guidelines and pedagogical materials subsidies. With this study, we also pointed out that there is a need to continue to study and research on this subject, which is recent and important in the context of Higher Education. / Esta pesquisa teve como objeto de investigação os cursos de graduação da Universidade Estadual do Oeste do Paraná – Unioeste, localizada no município de Cascavel, Paraná. Tendo em vista o avanço das pessoas com deficiências ou necessidades especiais no acesso ao Ensino Superior e destacando o papel das universidades no contexto social e na formação desses sujeitos, a fim de integrá-los cada vez mais a sociedade, uma indagação central perpassou pelo objeto de estudo, gerando o questionamento sobre as práticas pedagógicas desenvolvidas pelos docentes da Unioeste para atender à demanda de acadêmicos com deficiência ou necessidades especiais, que estão chegando até esse nível de ensino. O objetivo consiste em identificar, a partir da prática pedagógica dos docentes, se estão realizando adaptações e flexibilizações curriculares nas suas metodologias e nos instrumentos avaliativos. A metodologia utilizada foi de pesquisa descritiva, de abordagem qualitativa. Foi desenvolvida tendo como base referências bibliográficas, documentais e pesquisa de campo, utilizando questionários e entrevistas semiestruturadas, com referencial teórico da Psicologia Histórico-Cultural, como suporte para compreender o processo de ensino e de aprendizagem dos sujeitos envolvidos no campo educacional: professor e aluno. As análises e resultados foram embasados na análise de conteúdo de Bardin, em duas categorias: metodologia e instrumentos avaliativos utilizados pelos docentes nos cursos de graduação pesquisados. Os resultados encontrados revelam que a Unioeste está realizando as adaptações e flexibilizações curriculares, a partir das metodologias, dos instrumentos avaliativos, bem como do suporte dado pelo Programa de Educação Especial - PEE, com orientações e subsídios de materiais pedagógicos. Com este estudo, aponta-se ainda que há a necessidade de continuar a estudar e pesquisar sobre essa temática, que é recente e importante no contexto do Ensino Superior.

[pt] Essa tese estuda o impacto de mecanismos contratuais no valor de operações de fusões e aquisições e propõe três modelos distintos de avaliação. Ademais, sob a ótica da Teoria dos Contratos, ressaltamos o impacto do comportamento dos agentes nas características das cláusulas utilizadas ou ainda no sucesso da transação. Primeiro, desenvolvemos um modelo para earnouts fornecendo fundamentos para como essa cláusula em particular deve ser estruturada e como seu valor deve ser estimado, especialmente considerando sua similaridade com opções. Além disso, testamos diferentes formatos para o earnout, como opção binária e opção de compra. Segundo, modelamos a cláusula de anti-diluição, a qual proporciona uma proteção adicional para investidores, em especial no contexto de Venture Capital. Anti-diluição tem papel fundamental como seguro para investidores contra rodadas de investimento futuras com valuation abaixo do que fora previamente pago pelo investidor. Por fim, desenvolvemos um modelo de avaliação para preferência de liquidação, a qual também pode ser uma alternativa de garantia para investidores em operações de fusões e aquisições. Preferência de liquidação é tipicamente definida como o direito do investidor em receber seu investimento adicionado de um determinado montante em caso de algum evento de liquidação, em preferência os demais acionistas. Os resultados indicam que os mecanismos contratuais largamente utilizados em operações de fusões e aquisições tem impacto relevante no valor justo da transação. Adicionalmente, os resultados sugerem que os mecanismos contratuais são importantes ferramentas para mitigar o risco para investidores, viabilizando determinadas operações que se tornariam inviáveis, especialmente ao considerarmos a assimetria de informação entre comprador e vendedor. / [en] This thesis studies the impact of contractual mechanisms in MeA valuation deals and proposes three models to evaluate them. Also, under the Contract Theory lens, we draw attention to the parties behavior and its impact on clauses settings or transaction success. First, we develop a model for earnouts and provide the foundation for understanding how they might best be structured and how their value might be estimated, especially considering their similarity to financial options. Furthermore, we also test different features for the earnout, such as binary options and a combination of binary and call options. Second, we model the anti-dilution covenant, which provides additional protection for investors, especially in a venture capital context. Antidilution plays an important role as insurance for venture capitalists against down round, which is a subsequent financing event at a lower valuation. Lastly, we developed a valuation model for liquidation preference, which can be an alternative guarantee for investors in MeA deals. Liquidation preference is typically defined as the right of the investor (usually holding preference shares), to receive its investment amount plus a certain agreed percentage of the proceeds in the event of a liquidation of the company, in preference over the other shareholders. Our findings indicate that the typical legal covenants used in MeA deals have a relevant impact on their fair value and may work as important tools to bridge the gap between the buyer and the seller, especially considering the information asymmetry on this context. On the other hand, depending on the clauses settings, the risk may be too skewed to the seller side, making the deal structure too expensive under his perspective. By testing the model s parameters sensitivity, we provided the inputs the seller needs to evaluate and pursue the optimal contractual terms.

建立適當的資本投資決策，對於企業未來的發展具有深遠的影響。如何能擬定出適合的資本預算計畫，以增加公司的成長機會與競爭能力，便是當前重要的課題。本論文以三個階段探討企業投資歷程中所具有的實質選擇權評價：包括對於計畫案擬定之初期，進行投資機會價值評估的實質成長選擇權。以及針對投資計畫開始進行時，管理者所擁有的各種管理彈性，如遞延、擴張、縮減與暫停投資的決策彈性，進行多重實質選擇權的價值評估。最後，針對未能順利成功的計畫案，管理者擁有將其永遠放棄，以收回投資成本殘值的實質放棄選擇權價值進行評估。 　　對於第一階段的成長選擇權價值評估，本文已建立出同時考量標的資產與投資成本隨機變動，以及標的資產存在不連續跳躍特性下的選擇權評價封閉解，結果可用來評估計畫方案擬定初期的實質成長選擇權價值。若將評價模式中的參數進行限制，則本模型將會分別退化至Black and Scholes(1973), Merton(1976), Fischer(1978), Margrabe(1978), McDonald and Siegel(1985)等重要的選擇權評價文獻，可知本文已獲致較一般化的評價模型。 　　在第二階段的多重實質選擇權價值評估，本文採用Trigeorgis(1991)所建立的對數轉換二項評價模式，再加入跳躍模型的考量，以符合科技產業所具有的創新、競爭特性，期較能合理評估其價值，也獲得了較一般化的評價模式。再者，本文以模擬方式對於管理者在投資計畫的進行過程中所擁有的遞延、擴張、縮減以及暫停投資等彈性決策價值進行評估，以彰顯出利用實質選擇權評價方法進行彈性決策價值評估的必要性。由數值分析的結果得到，當多個實質選擇權同時存在時，其間將產生不同程度的交互作用，因此並不能直接將個別價值予以加總來求算整體的實質選擇權價值。不過，每項管理彈性的加入對於整體價值的增加皆具有正向貢獻。 　　對於第三階段的放棄選擇權價值評估，本文建立同時存在多項投資方案下的實質放棄選擇權評價模型，結果可用來評估研發計畫方案未能成功時的實質放棄選擇權價值。此外，本文進一步對於此評價模型進行數值分析，並將所得到的結果歸納如下：(1)方案間價值變動相關係數對於實質放棄選擇權價值的影響上，有相關係數越高時，實質放棄選擇權的價值就越高的現象。(2)殘值回收比率較高時，若採取較多的投資計畫方案，將可以獲致較高的實質放棄選擇權價值，此結果可作偽管理者在選擇備抵方案數目時的參考。(3)對於敏威性分析的探討，發現到當殘值增加、利率下降以及剩餘期間較長時，實質放棄選擇權的價值是增加的，此現象與賣權特性結果一致。 　　因此，本文針對企業投資歷程中所具有的實質選擇權評價進行深入探討，分別建立選擇權評價模型，也獲致了較以往模型更一般化的評價結果。並於各評價模型建構完成後，輔以數值模擬與敏感性分析，以進一步說明本文所建構模型之一般性與合理性。最後，希望此結果有助於日後企業對於投資價值評估時之參考，並可彌補此類研究文獻的不足。 / This dissertation presents three essays, each provides a general real option pricing model. In the first essay, we derive a generalized option pricing formula for the case of the underlying asset and exercise price both being driven by a mixture of continuous and jump diffusion processes. Our pricing model is a generalized version of Black and Scholes(1973), Merton(1976), Fischer(1978), Margrabe(1978), and McDonald-Siegel(l 985). And each of the historical model is shown to be a special case of ours. We then use the model developed in this article to evaluate real growth options where the underlying assets follow jump diffusion processes. The second essay develops a multi-option pricing model incorporating jump characteristics. The model we provide here can be used to value various types of flexibilities, including the option to defer, the option to shut down, the option to contract, and the option to expand. Based on our numerical results, we find that the model can deal with the interactions among these options. The third essay considers an abandonment option on the maximizing value of several investment projects. Here we develop a model to evaluate R&D projects that may not be accomplished. We show that both Black-Scholes's model and Stuiz's model are special cases of ours under certain restrictions on parameters. From the simulation results, we find a positive relation between the correlation of project value changes and the value of the real abandonment options. Furthermore, our simulation results show that the higher the percentage of recovering salvage value, the more number of investment projects should be carried out. The result we find can help managers to choose the better backup projects. Our sensitivity analysis shows that the value of the real abandonment options increase when the riskless interest rate decreases, and at the same time the salvage value and the time to maturity increase.

This thesis deals with the current events in the World Trade Organization concerning about non-agricultural (industrial) products. It describes negotiations procceding cca from the year 2006 till now. The problems that I have chosen correspond to the chapters and comprises formula for tariff cutting and its coefficients, flexibilities, non-tariff barriers, sectoral negotiations and recently added members. Just as the problems I have chosen also the countries - Brazil, China, India, the European Union and the United States of America. They could be classified as the key and most active players in non-agricultural market access negotiations. I was concentrating on their opinions, attitudes, reaction and especially proposals.

Despite the adoption of the Doha Declaration on the TRIPS Agreement and Public Health in 2001, which unequivocally affirmed WTO members’ rights to use compulsory licences and other TRIPS flexibilities to access medicines, thirteen years on, developing countries and least developed countries are still grappling with access to medicines issues and a high disease burden. Despite some well researched and eloquent arguments to the contrary, it is a trite fact that patents remain an impediment to access to medicines by encouraging monopoly prices. The WTO TRIPS Agreement gives members room to legislate in a manner that is sympathetic to access to affordable medicines by providing for exceptions to patentability and the use of patents without the authorisation of the patent holder (TRIPS flexibilities). This study focuses on access to medicines under the TRIPS Agreement from a SADC comparative perspective by interrogating the extent of the domestication of TRIPS provisions promoting access to medicines in the SADC region with specific reference to Botswana, South Africa and Zimbabwe. After establishing that all SADC members, including Seychelles which is yet to be a WTO member have intellectual property (IP) laws in their statute books, this study confirms that while most of the IP provisions may be used to override patents, they are currently not being used by SADC members due to non-IP reasons such as lack of knowledge and political will. The study also engages in comparative discussions of topical occurrences in the context of access to medicines litigation in India, Thailand and Kenya and extracts useful thematic lessons for the SADC region. The study’s overall approach is to extract useful lessons for regional access to medicines from the good experiences of SADC members and other developing country jurisdictions in the context of a south-south bias. The study draws conclusions and recommendations which if implemented will in all likelihood lead to improved access to medicines for SADC citizens, while at the same time respecting the sanctity of patent rights. The study recommends the adoption of a rights-based approach, which will ultimately elevate patient rights over patent rights and urges the region to consider using its LDCs status to issue compulsory licences in the context of TRIPS Article 31 bis while exploring the possibility of local pharmaceutical manufacturing to produce generics, inspired by the experiences of Zimbabwe and current goings on in Mozambique and the use of pooled procurement for the region. The study embraces the rewards theory of patents which should be used to spur innovation and research into diseases of the poor in the SADC region. Civil society activity in the region is also identified as a potential vehicle to drive the move towards access to affordable medicines for all in the SADC region. / Mercantile Law / LL.D.

Despite the adoption of the Doha Declaration on the TRIPS Agreement and Public Health in 2001, which unequivocally affirmed WTO members’ rights to use compulsory licences and other TRIPS flexibilities to access medicines, thirteen years on, developing countries and least developed countries are still grappling with access to medicines issues and a high disease burden. Despite some well researched and eloquent arguments to the contrary, it is a trite fact that patents remain an impediment to access to medicines by encouraging monopoly prices. The WTO TRIPS Agreement gives members room to legislate in a manner that is sympathetic to access to affordable medicines by providing for exceptions to patentability and the use of patents without the authorisation of the patent holder (TRIPS flexibilities). This study focuses on access to medicines under the TRIPS Agreement from a SADC comparative perspective by interrogating the extent of the domestication of TRIPS provisions promoting access to medicines in the SADC region with specific reference to Botswana, South Africa and Zimbabwe. After establishing that all SADC members, including Seychelles which is yet to be a WTO member have intellectual property (IP) laws in their statute books, this study confirms that while most of the IP provisions may be used to override patents, they are currently not being used by SADC members due to non-IP reasons such as lack of knowledge and political will. The study also engages in comparative discussions of topical occurrences in the context of access to medicines litigation in India, Thailand and Kenya and extracts useful thematic lessons for the SADC region. The study’s overall approach is to extract useful lessons for regional access to medicines from the good experiences of SADC members and other developing country jurisdictions in the context of a south-south bias. The study draws conclusions and recommendations which if implemented will in all likelihood lead to improved access to medicines for SADC citizens, while at the same time respecting the sanctity of patent rights. The study recommends the adoption of a rights-based approach, which will ultimately elevate patient rights over patent rights and urges the region to consider using its LDCs status to issue compulsory licences in the context of TRIPS Article 31 bis while exploring the possibility of local pharmaceutical manufacturing to produce generics, inspired by the experiences of Zimbabwe and current goings on in Mozambique and the use of pooled procurement for the region. The study embraces the rewards theory of patents which should be used to spur innovation and research into diseases of the poor in the SADC region. Civil society activity in the region is also identified as a potential vehicle to drive the move towards access to affordable medicines for all in the SADC region. / Mercantile Law / LL.D.