Originally from American Review of International Arbitration - ARIA

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In recent years, the robust advancement of technology, especially computing
technology and biotechnology, has created a surge of patenting activities and
ushered in a concomitant growth in the exploitation of patents through licensing
agreements.1 Ever since the entry into force of the Agreement on Trade-Related
Aspects of Intellectual Property Rights (the “TRIPS Agreement”) within the
framework of the World Trade Organization, which was intended to safeguard
patent rights worldwide, the exploitation of patents has become increasingly
international.2 The combined effects of the greater technical complexities and
global exploitation of patents, amongst others, are that national formal judicial
systems increasingly fall out of pace with the needs of the business community in
settling disputes arising from patent exploitation.