Intellectual Property Rights

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					Intellectual Property Rights
IPRs define the rights and privileges attached to ownership of
intellectual property. Such rights allow owners to exercise a temporary
monopoly over the use of their creations; they have exclusive rights, for
a limited time, to decide who may use a product or work and under what
conditions. Such rights define ownership and specify the degree to which
inventors and creators may profit from their work, the access others may
have to the works themselves or to information about them, and how others
may use or improve upon existing works.
IPRs involve issues of wealth distribution, incentives for innovation and
creativity, access to information, and basic human rights. Ethical issues
attach to questions of what should be publicly or privately owned, how
ownership is established, how much and how long the owner can control the
property, and whether public policy should create exceptions to
intellectual property rules to serve social interests.
IPRs encourage innovation by protecting new work from appropriation by
others and allows people and institutions to profit from their work. Such
rights promote the communication of information; as long as the right is
in place, information can be published without fear of loss. IPRs also
define public rights by indicating when private protections expire.
Rationales for IPRs fall into two categories, "instrumental rationales,
which view intellectual property in terms of its benefits to society as a
whole, and natural rights which stresses the inherent authority of
innovators to control works they have created". Instrumental rationales
focus on the need for protection to promote societal goals, such as
economic growth or technological innovation. Natural rights arguments,
grounded in the philosophy of John Locke, assert that people are entitled
to protection for the products of their minds, regardless of whether the
protections serve other societal goals. The two rationales may lead to
different policy decisions about the appropriate type and level of
intellectual property protection.
For more information on Intellectual Property, visit my Intellectual
Property Guide here.