Protecting Ip And The Ethical Issues Related

Protection of intellectual property are investments based on acquired knowledge, thought and effort by one or multiple individuals on behalf of themselves, the business they work for when the property is created, and a financial investment. Each of these – acquired knowledge, thought, physical effort, financial investment – have a value that can be attached as it relates the usefulness or importance of the resulting product. That value will have a level of importance to the individual(s) creating the product and if applicable, the investor providing the funds in support of the creation.

An effective system of intellectual property is important in facilitating innovation as well as economic growth within a country and across all its borders (Davidson, Monoti, Wiseman, 2012). The current global economy is concentrating more in the invention of ideas that are original, other than in manufacturing of machines. To enhance and protect these ideas, there ought to be effective intellectual property laws. The government of Australia has prioritized the protection of original ideas from individuals through copyright, patent, and trademarks among other intelligent property laws, which give the inventor a temporary period to enjoy the financial benefits of his or her original idea. The major purposes of intellectual property laws can be contested; therefore, they create areas of interest for

The protection of intellectual property is important because, without it individuals and companies would be less likely to invest their time or money in new ideas. If the company puts a lot of money into research and development of a new surgical procedure for knee replacements, it would not be fair if a different company could just use their idea. There would be no financial gain to encourage companies to spend the time and money developing new procedures.

The World Intellectual Property Organization (n.d.) helps one understand the importance of protecting intellectual property. They have spelled out several reasons of this importance including inventing new works in technology and culture, which allows progress to be made that, can be utilized worldwide. In addition, the legal protection of intellectual property encourages the commitment of additional resources for further modernization. Finally, promoting and protecting intellectual property encourages economic growth. It creates new jobs and industries. Protecting intellectual property also enhances the quality and

There is a need for patent system reform which will foster innovation and creativity without the sacrificing fairness. In the current state, the system serves to only stiffen innovation and obliterate anyone who does not have deep enough pockets to protect themselves against NPEs. There needs to be a cost to Patent Trolls for filing bogus patents and lawsuits in order to deter them from their obnoxious and unjust litigation. We need a system that would level the field for those who have money to fight and those who don't. Justice should be accessible to all and not just those who can afford

First of all it is important to establish what Intellectual Property (IP) is a creation of the mind. There are two types of IP that protect a range of different creations. The two categories are Industrial Property and Copyright. Industrial Property is concerned with the commercial based creations such as patents, trademarks, and industrial designs. Copyright protects literary works such as films, music, artistic works, and Television. Copyright is granted automatically, there is no need to register or fill out a form. However, some governments encourage this to

IP theft delivers an injurious, and to many, a crushing economic blow by constricting artists’ employment availability; moreover, by siphoning their downstream revenue. However, there are also fewer tangible costs from IP theft. These costs cannot be quantified fiscally pursuant to the Notice, (OMB) but they are equally important to the cost-effective analysis between IP enforcement and its ultimate cost. What cannot be wholly quantified within a limited forecast is the unquantifiable value that creativity bestows to global society and culture, the cornucopia of creativity that thrives in societies with strong and enforceable Intellectual Property laws, and the impact of IP theft on the creative, fundamental rights that directors, actors, craftspeople, performers, tech developers, and writers hold with respect to their work. It is compulsory to calculate these non-economic costs into not only the next Strategic Plan, but also legislation, and The United Nations’ World Intellectual Property Organization’s (WIPO) policies weighted along economic considerations.

There is such a legal concept as "intellectual property". Intellectual property is defined as the creation of any intellectual innovation by an individual such as musical, literary, and artistic works; discoveries and inventions; and words, phrases, symbols, and designs. The law provides him exclusive rights to this innovation and is strictly against theft or plagiarism in any way. Innovators can safeguard their property by one or more of the following: copyright, trademarks, patents, industrial design rights and in some jurisdictions trade secrets.. Copyrights, patents, and trade secrets are each authored by different Offices. Each is based on the Laws of Commerce. (LII. Intellectual property). Cultural attitudes, in fact, esteem words and knowledge above that of certain other property, since knowledge is something that cannot be as easily duplicated as, for instance, an article of common furniture can. To illustrate the veneration that contemporary society accords intellectual invention, software is more expensive and valuable than hardware sink the

A bilateral agreement that encourages joint ventures between the U.S. and China will also help to foster a culture of IPR enforcement in China. Intellectual property lawyer Frank Lin attributes China’s dismissive attitude towards IP protection to China’s recent emergence from Communism, as private property rights in China have only existed for one generation. Joint ventures will help to accelerate a shift in cultural attitudes.

Intellectual products are considered as ‘non-excludable’ and ‘non-rival’ goods. Since intellectual products neither prevents a person to enjoy the benefits of a product over others nor does the use by the first person diminish the value of the product. Therefore, if property right over creative works are vested to the society then the price of a product will be zero, the prospect of any revenue will diminish and the incentive to create will fade. As such, there was a strong reason to implement efficient copyright term of protection. However, it is wrong to assume that copyright products are public goods because copyright law can exclude others over a fee paying consumer.

China has achieved great success in economic reform in the last ten years. The increasing foreign investment, especially in high-tech, has made China one of the biggest market for the sale and licensing of IPR products. During the period 1993 to 1997 alone, high-tech related foreign investments in China has reached a total of $185.8 billion.2 However, IPR protection in China is still way behind US. The most common problem is piracy. Software piracy refers to the illegal or unauthorized copying of software. In a sense it is ethical equivalent to pirates’ attacking ships in public water. "The International Intellectual Property Alliance estimates that millions of pirated DVDs worth $160 million, and $47 million worth of fake CDs and cassettes were sold in China in 2001,"6 In this paper two cases will be analyzed in ethical and legal perspectives of patent and piracy.

Intellectual Property is a general term used to refer to independent statutory or non-statutory systems such as patents, copyrights, trademarks and trade secrets (Drahos). Like the industrial revolution, post-war consumerism and the technology revolution, the world is currently in a state of change (Daly). Unlike those periods, however, the convergence of economic, social and environmental pressures has created an even more favourable platform for innovation (Daly). Intellectual Property plays an integral role in many functions of everyday life, specifically in encouraging innovation through product development and technological change (Daly). IP protection is also an important component of national economic policies (WIPO). Governments face complex choices regarding how to design a patent system that best serves their specific policy objectives, as well as responding to ever changing technologies and business models (WIPO). Explanations of economic growth are increasingly focusing on the power of estimated profits as motivators for innovation (Gould & Gruben, 1). This paper will first explain the premise of Intellectual Property, than give a brief theoretical background, followed by a discussion of how Intellectual Property is affected by the Economic Growth Theory, and describing the importance of Intellectual Property rights protection, as a means of demonstrating how Intellectual Property may save the world’s economies.

Rules of intellectual property are justified in this era of technology. Intellectual Property (IP) refers to the protection of creations of the mind, which have both a moral and a commercial value (European Space Agency, 2015).Usually, intellectual property rights give an individual a copyright over their documents and only the authors can produce or reproduce the work. Most work in the past decades was produced as books. The buyer has the right to own the book. The elements inside the book are, however, someone’s original work, and they should be protected. Most physical things have property rights, like buildings, cars, and pieces of land. The intellectual property law was written so as to differentiate the physical object from the literary work. An author needs to protect this literary work. In a bid to protect, sell, and make a profit from the literary work, creations, and imaginations, in Canada, these laws are enforced. The laws are patents, copyright, trademark and

The concept of intellectual property, copyrights, and patents has been around for many years. The ancient Greeks had already started to attribute authorship of works to individuals. The purpose is to encourage people to make new inventions by rewarding them with the exclusive right to "own" their ideas. Laws have been made to prohibit people from taking other people's ideas unlawfully (i.e., stealing) and in general, these laws have been successful in preventing the crime before it is done, and punishing the criminals after it is done. However, in recent years, the new phenomena of the Internet and digital technology will change both the concept of intellectual

Intellectual property is critical to many companies in order to foster innovation and boosting their revenues. Many industries rely on the protection of patents, trademarks and copyrights as they are valuable assets for companies’ success. By protecting intellectual properties, it ensures that the original owner reaps full benefits from his/her ideas, features, products and creations.