intellectual property

Examples of intellectual property in the following topics:

• Investing in Research and Development

  • The government can establish intellectual property laws, directly conduct research, or finance research and development.
  • The government can do so by creating a good structure of intellectual property protection, called, broadly, patent law.
  • They are one of the basic forms of intellectual property.
  • Patents and, more broadly, intellectual property rights, are important because they encourage investment in research.
  • Without intellectual property protection, researchers would be worried that, once they make a breakthrough, competitors would simply sell their product.

• Issues In Property Rights

  • As Hayek has pointed out, property rights cannot be static; the property rights that apply to chattel property of individuals may not apply equally well to intellectual property.
  • A version of this view has been extended to intellectual property rights.
  • Lawrence Lessig argues that property rights must be balanced between provision of incentives and to allow others to use intellectual property to extend knowledge.
  • What form should intellectual property rights take if creativity is to be promoted?
  • As Peter Drahos and John Braithwaite relate, this is precisely the choice we are now making about intellectual property.

• Current U.S. Trade Agenda

  • The United States would like to make the Internet a tariff-free zone, ensure competitive telecommunications markets around the world, and establish global protections for intellectual property in digital products.
  • Other American objectives include more liberalization of trade in services, greater protections for intellectual property, a new round of reductions in tariff and nontariff trade barriers for industrial goods, and progress toward establishing internationally recognized labor standards.
  • China also agreed to reduce agricultural tariffs, move to end state export subsidies, and takes steps to prevent piracy of intellectual property such as computer software and movies.

• Entry and Exit of Firms

  • Intellectual property: Potential entrant requires access to equally efficient production technology as the combatant monopolist in order to freely enter a market.
  • Patents are an example of intellectual property.
  • If a firm does not own intellectual property relevant to the industry, that could prove to be a significant barrier to entry into that market.

• The New Nation's Economy

  • The last-mentioned clause was an early recognition of the importance of "intellectual property," a matter that would assume great importance in trade negotiations in the late 20th century.

• Mixed Economies

  • These governments also regulate labor and protect intellectual property.

• Government Action

  • Intellectual property rights such as copyright and patents are government-granted monopolies.

• Other Barriers to Entry

  • Intellectual property rights, such as patents and copyright, give the rights holder exclusive control over the production and sale of certain goods.
  • Property rights may give a company exclusive control of the materials necessary to produce a good.

• Legal Barriers

  • Intellectual property rights, including copyright and patents, are an important example of legal barriers that give rise to monopolies.
  • A patent is a limited property right the government gives inventors in exchange for their agreement to share the details of their invention with the public.

• Private Property Rights

  • Property rights can also be enforced by implicit social institutions.
  • Respect for others and social sanctions are important determinants of property rights.
  • The property rights to "material things" are more obvious and clear cut than intellectual property rights.
  • hen private property rights are exclusive, all the costs and benefits of an alternative are exclusive to the person(s) engaged in the exercise of the property right.
  • These goods are called "common property resources."