Conventional wisdom suggests that a country that fails to protect intellectual property rights harms its own national interest. Without the prospect of compensation, individuals and companies will have no incentive to put time and money into the risky endeavour of innovation, thus relegating their nation to an also-ran in today's global knowledge-based economy. Or so it seems.

I would like to offer a contrarian perspective. That is, the lack of IPR protection is a boon for the violators - whose costs are borne by the stolen product's owners, investors and legitimate buyers - and, at least for the medium term, their national economy. While this competitive advantage may not last forever, it can be sustained long enough to inflict serious damage on IPR owners.