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The role of intellectual property rights (IPRs) in the development and transfer of climate change technologies has been a contentious issue in negotiations under the United Nations Framework Convention on Climate Change (UNFCCC). Irreconcilable differences seem to oppose those who believe IPRs are an inherent barrier to the transfer of climate change technologies and those who argue they are an essential incentive to innovation. After providing an overview of the polarized debate on this issue, this article reviews the existing literature and empirical evidence and looks into some practical initiatives and recent developments. Finally, it seeks to identify a way forward that could help overcome the current stalemate in international deliberations by suggesting a number of parameters to structure the discussion on this complex issue.