Social and Economic Benefits of Intellectual Property Rights (original) (raw)
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THE JUSTIFICATION FOR INTELLECTUAL PROPERTY RIGHTS
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Modern societies rely heavily on intellectual property rights (IPRs) to foster innovation, creativity, and economic growth. Examining multiple ethical, economic, and societal perspectives, this paper seeks to provide a comprehensive study of the justification for intellectual property rights. This paper seeks to demonstrate the significance and legitimacy of IPRs in promoting innovation, encouraging investment, and protecting the rights of creators by examining their underlying principles and key arguments. This paper seeks to provide a comprehensive understanding of the significance and legitimacy of intellectual property rights by examining their moral, economic, and social justifications. It emphasises the need for a balanced approach that promotes innovation, encourages creativity, and guarantees access to knowledge and cultural expression. As societies continue to evolve in the digital age, ongoing dialogue and examination of IPRs will be essential for shaping a dynamic and equitable intellectual property environment. This is be a Expository paper.
Intellectual Property Rights: An Economic Approach
Procedia Economics and Finance, 2014
This paper aims to analyse the intellectual property rights from an economic perspective. The paper is discussing the points of view of well known economists in relation to the positive and negative impacts of the intellectual property systems. It brings also into discussion the role of IPR as a barrier to entry and a mean to restrict competition and to favour monopoly situations.
Intellectual property in the context of the contemporary society
International Review, 2016
The intellectual creators are, with their creations, bringing comparative advantages to products, contributing to employment, strengthening the economic basis and in the best way representing the state. Intellectual Property, together with other intangible assets, in developed countries accounts for more than half of the total investment. In the modern world, we are completely surrounded by various categories of intellectual property that often exceed the value of the thing in which they are contained, but the problem is that we are either unaware of it, or are ignoring this fact. A particular problem is the economic potential of the country that prevents poor countries to adopt intellectual capital as an essential economic resource, and the lack of will to protect intellectual creators. In recent decades, because of that, has been opened dilemma whether to change the concept of intellectual property in the sense of intellectual creativity to be equally available both to developed countries and developing countries.
In recent years, with the rising importance of Intellectual Property Rights (IPR), a great question is posed in front of us: Why should property interest and rights exist for an intangible item? This question poses a threat to the very existence of Intellectual Property rights and is a major challenge to the same. With this question rise two schools of thought: The first emphasizes on the importance of protecting the interests of creators and providing incentives for those with ideas in order to further increase innovation and advancement of human race as a whole, the latter focusing on those who believe in the free access of data, knowledge and believe that providing such privilege is detrimental to human society, as it promotes greed and negative competition. The Author in this Manuscript has made an attempt to evaluate the importance of intellectual property laws while highlighting the specific need for certain common intellectual property. It is important to reward those who innovate as they have put in labor, capital and time into creating the property in question. Therefore, it becomes the duty of the state to recognize the hard-work and provide certain privileges in this regard to such an individual. Protection of IPR ensure an endless loop of development and innovation as it maintains an influx of capital in the economy while promoting others to innovate and develop, further rewarding the people who have already done so. Keyword(s): Intellectual Property Rights, Intangible Property, Need for IPR, Protection of IPR, Innovation, Privileges.
The tradeoff of intellectual property rights reconsidered
Revista Econômica, 2008
Intellectual property rights have a twin effect on the economic system.On the one hand they increase the incentives to the introduction of new technologicalknowledge. On the other they increase the costs of the generation ofnew knowledge because they limit the access to an indispensable input such asexisting knowledge. A tradeoff between such positive and negative effects canbe formalized so as to identify of the ‘correct’ levels of knowledge rents...
Intellectual Property Law: Economic and Social Justice Perspectives: Introduction
Edward Elgar Publishing eBooks, 2010
Intellectual property (IP) is deemed grounded in economics incentives and societal balancing of rights to fruits of one's own labour, personality and good name with others' interests in knowledge, progress and their by-products. Such foundations have underpinned the granting of patents, trademarks and copyrights (as well as the development of trade secret and industrial design laws) for centuries. Yet the recognition that intellectual property in the form of literature, science, knowledge and its fair dissemination and access to knowledge has a broader role to play in the development of all individuals as well as the fabric of society and democracy is not novel, although some would label it 'neo-liberal'. This is made clear by the declaration on the role of law in this regard and the duty of policymakers to foster it made by John Adams, then future president, during a time when the United States of America could legitimately be called a developing country. Contained in the fi rst Massachusett's state constitution of 1780, entitled 'Encouragement of Literature, etc.' this unique and then radical constitutional provision states: 1
INTELLECTUAL PROPERTY RIGHTS: NEED AND IMPORTANCE
An International Journal of Cotemporary Studies , 2019
Intellectual property is an intangible property or proprietary asset, which applies to any product of the human intellect that has commercial value. Intellectual Property Rights (I P Rights) are one’s legal rights in respect of the ‘property’ created by one’s mind – such as an invention, or an artistic work, or piece of music, or a name or slogan or symbol, or a design, which is used in commerce, in the form of books, music, computer software, designs, technological know-how, trade symbols, etc. This paper explains what is Intellectual Property rights, Why Intellectual Property rights, Types of Intellectual Property rights and need of Intellectual Property rights.
2010
Intellectual Property is a very serious matter. Some estimates conclude that the current value of intellectual property significantly outweigh the value of physical propertyland, tangibles and intangibles together. A growing percentage of the GDP in industrial countries is comprised now of informational goods such as software, movies, music drugs and databases. 1 The scope of IP protection has of course significant effect on this ecconomic value and the laws regulating intellectual property in the information age are perceived as a key for economic growth. Intellectual property law, therefore, has become of immense importance. It has seen in the last decade the most significant changes since its birth following the invention of printing. The field of IP law became also an important battleground for interest groups, politicians, and different voices in civil society. The borderless nature of informational goods highlights also national interests, which are reflected in internationalization of legal arrangements and institutions in this field and in growing controversies among nations and governments.
Intellectual Property In Society Development
2016
Intellectual property is one of the most valuable assets that can measure the feasibility and the future performance of an organisation, irrespective of the nature of capital ownership, be it private or public. The stimulation of a nation`s creative capacity is a systematic, homogeneous process supported by a highly dynamic national system related to intellectual property rights.Far from aiming to cover the diversity of information and theoretical-practical issues related to „intellectual property in organisations”, „value of intellectual property”, this paper is an invitation to analyse the importance and need to use intangible assets as a value in central or local public institutions and to make public sector more efficient.The contributions of the paper are its findings, which allow us to draw interesting and useful conclusions about the intellectual property as an intangible asset in increasing value of an organization.