Intellectual_Property

INTELLECTUAL PROPERTY It is in my opinion that to say intellectual property is “antithetical to a private property, free-market,” is totally illogical. Intellectual property is a tangible item and there for qualified private property. No matter what philosophies circulate around its ontology or arguments affecting its control, it is a resource all the same in a free-market. Intellectual property provides incentive for new innovation and entrepreneurship, and provides a means of protection for those producers in the market, that labor to develop new goods and services through fresh ideas. It is my belief that Stephan Kinsella’s article illustrates subjective points that stand to reason that we should not give full consideration to intellectual property rights due strictly to its constitution. He rationalizes the cons of intellectual property as being an overall hindrance to free market more so-on the bases of “moral” particulars and scrutinizes the control factors almost being mercantilist protectionism. The bottom line, is that weather or not, the four-fathers viewed intellectual property as a natural right, or the fact that copyrights and patents can be manipulated by major producers to gain competitive edge, or that some have taken intellectual property by-laws and swayed regulations for their own motives, intellectual property is well with-in the domain of natural rights and there for deserves its place value in commercial trade. ||What is Intellectual Property and Why does it help a free-market|| Intellectual property is a genuine species of property that are distinct creations of the mind giving a set of exclusive rights. Some proponents say that intellectual property is a form of intellectual protectionism, or government-granted monopolies, and argue that the public interest is harmed by legislation such as copyright extension, software patents and business method patents, etc., etc… I say otherwise, feeling that it’s not what you do, but more so how you do it. I believe that like much other legislation that have been corrupted and manipulated by the system, certain amendments of intellectual property have been victim such suit. I see intellectual property as another way to introduce new products to market. It levels the playing field so that smaller entrepreneurs can capitalize on self-made innovations while not always having the same resources as major companies. In essence, it helps to further market diversity and rivalry. To think that I could create a song, develop a fan base & consumer demand, begin to generate revenue for that product, and then lose control of the authenticity of my resource as a circumstance of theft and piracy, due to the absence of copyright & patent edicts, dismisses interest in market immersion. Like any other wage earner, the people innovating and creating need to profit. Large extents of time and money are spent researching, and developing new technologies and products with no guarantees about the marginal cost to marginal benefit. There is always a risk that a product will “sink” rather than “swim”. IP rights allow for inventors and producers to furnish there finance through the market. ||How does intellectual property protection lead to economic progress|| Let’s face it; our world today is cultivated with the intrigue of the neoteric, and the inventiveness that objectifies it. Knowledge based industries are on the boom and have risen to even play a role in the employment market. There for it is a must for the protection of intellectual property if only to continue to grant innovative businesses a powerful incentive to invest, and contribute to economic progress. It’s said that, “Innovation has become one of the most important vectors of sustainable growth for businesses and of economic prosperity for society as a whole.”(ICC 10) Technological advancement is accountable for ½ of the US economy’s growth. It’s noted that in 2010, 70% of corporate assets were in intangible resources in the US alone. The market is saturated with innovative industries like publishing firms, music businesses, film and software, etc.,. all generating growth and employment opportunities in both developed and developing nations. “THESE INDUSTRIES –HEAVILY RELIANT ON COPYRIGHT – CONTRIBUTED MORE THAN 1.2 TRILLION EUROS TO THE EU’S ECONOMY, PRODUCED ADDED VALUE OF 450 BILLION EUROS, EQUALING 5.3% OF THE EU’S GDP, AND EMPLOYED 5.2 MILLION PERSONS IN 2000.” (ICC.11.) ||Whom does intellectual property theft harm|| Counterfeiting is responsible for a widespread loss of employment opportunities and a massive loss of tax revenues for governments. They rob innovators and creators of rewards for their effort and innovation, undermine local culture by reducing the incentive to invest, and ultimately limit the diversity and availability of high-quality goods and services. Consumers are increasingly being harmed by unsafe counterfeit products that can present significant health and safety risks. There is evidence of increasing links between piracy and counterfeiting operations and organized crime. Intellectual property can be a powerful tool for growth and economic progress and development. In order to reap the full benefits of intellectual property, protection has to be supported with consistent policies by governments worldwide, to set up effective structures to make use of these assets.