Questions On Intellectual Property Rights - 1475 Words

Debate Paper: Intellectual Property Rights The world that exists today was built on two things: innovation and the pursuit of one’s self interest. Our founding founders believed intellectual property to be a way to encourage innovation. Intellectual property (IP) is what ties these two building blocks together. IP is a property right that is granted by some form of government. The government strictly enforces individual property rights, which some believe tends to attract more investment, grows faster, and thus has better outcomes for its citizens. Others believe that IP is an intellectual monopoly that controls people’s creativity and imagination. The economists, who believe IP is a necessity in today’s society, say that there are only†¦show more content†¦If one spends time coming up with a drug, it is up to them if they want to share it to the world. They believe that there are more important issues rather than making profit like the fact that recreating the drug is effective to the economy an d will improve health. That $800 million is an investment in bettering the world. Ao are Intellectual Property Laws necessary for our global economy? PRO Contentions IP allows for the rights of the creator to be protected IP is good for business Profitability and market stability PRO (Kaweah): IP allows for the rights of the creator to be protected. This does not always mean that you came up with the idea, turned it into something, and then had the copyright for it; however maybe you had an idea and then your friend stole your idea and made something of it. This is in violation to your intellectual property rights. If you were to get rid of IP rights for the creator, you could be taking away potential creativity for innovation. Inventors, scientists, people with dreams would all be afraid to express their ideas and have then come into fruition for fear that the work would be stolen, copied and reproduced without credit to the original inventor. PRO: IP is good for business (Daniel) According to Dr. Kristina Lybecker, â€Å"IP-intensive industries have more than double the sales and capital spending as compared to non-IP-intensive industries. IP-intensive industries sustain greater long-term growth, generate trade