; Intellectual Property Monetization is More of a Moral Issue
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Intellectual Property Monetization is More of a Moral Issue

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Intellectual Property Monetization is a crucial step towards protecting the moral rights of creators against possible theft, misuse and alteration. It is aimed towards safeguarding the interests of the individual or organizations who have devoted considerable time and effort, as well as incurred developmental and ownership costs.

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									     Intellectual Property Monetization is More of a Moral Issue


“Intellectual Property Monetization is a crucial step towards protecting the moral rights of
creators against possible theft, misuse and alteration. It is aimed towards safeguarding the
interests of the individual or organizations who have devoted considerable time and effort, as
well as incurred developmental and ownership costs.”



IP or Intellectual Property, as defined by OECD or the Organization for Economic
Cooperation and Development, refers to intangible assets other than financial and
physical assets, which can be owned and controlled for commercial use. This
definition has importance in context of ownership issues for determining
entitlement to any return from such assets, also referred to as Intellectual Property
Monetization. Here, it is important how parties, who have control over the risks as
well as the functions, conduct themselves. Protecting the assets, incurring
associated costs and the risks, control, maintenance and responsibility of
development are key tests for ownership entitlement and IP monetization.



However, the Committee on Economic, Social and Cultural Rights begs to differ.
According to this eighteen member UN body that meets once every quarter to
consider reports submitted by the member states conforming to the International
Covenant on Economic, Social and Cultural Rights or the ICESCR, Intellectual
Property should be considered as a social commodity, whose purpose should be to
serve mankind. But Intellectual Property monetization is in contrast to the above
idea, with economic goals governing such an intangible asset. This committee
recommends IP should come under the purview of Human Rights laws, with the
former complying with such laws.



The Universal Declaration of Human Rights defines the relationship between IP and
human rights. Article 27 states that every individual, who has authored any literary,
scientific or artistic production, has the exclusive right to protect the material and
moral interests arising out of such an invention. There are many critics and
theorists who have their own thoughts on this sensitive and complex topic. While
some believe Intellectual Property monetization is justified on the basis of hard
work and deservedness, there are others who argue IP monetization is a stimulant
for social progress and motivates individuals for future innovations.

The morality of Intellectual Property Monetization is a debatable issue; yet, some
justifications favor the protection of private property. An individual has the right to
the creations, labor and productions of one’s body. Although, this philosophy
doesn’t explicitly mention the natural right to creations of the mind, it is only fair to
include them as well, to prevent the misuse of one’s ideas by other people. The
second rationale states that societies that protect IP are more prosperous than the
ones that don’t. Invention and innovation need to be encouraged; and towards this
effect, the patent system was developed. Since its inception, patents have been
credited with many such discoveries, especially in 19th century America.



Another argument is based on a thought of the famous German philosopher, Georg
Wilhelm Friedrich Hegel. He believed Intellectual Property was an extension of an
individual’s personality; therefore, every human being has the right to turn a thing
into an object of his liking or will. He can recreate the thing and make it his own.
The basis of this theory lies on the premise that there is an inherent risk for the
creator as he is vulnerable to having his designs or ideas stolen. Intellectual
Property Monetization and the principles governing it, therefore, seek to protect the
moral claims related to personality. IP is a moral issue, as the human mind is the
ultimate source of all creations, and all property is Intellectual Property. Violating
such property constitutes an act of immorality, no different than violating tangible
property rights.




Jacob has been associated to business planning for long years and he believes
every business need capital raising to get them off the ground. He also believes
that, one can take the help of Intellectual Property Monetization or Ip Monetization
as an effective finance management tool and manage capital in return.

								
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