The Beginnings Of Intellectual Property Rights

Global economics affects the decisions of firms, governments, and individuals in the United State in many different ways. The World Trade Organization manages the rules and trade between nations and has a significant impact on intellectual property rights. Intellectual property rights refer creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce (World Intellectual Property Organization, 2014). The purpose of this paper is to compare and contrast free trade and protectionist theories, analyze how the global environment functions on a micro and macro level within the context of the World Trade Organization, analyze the two-level game theory and how organizations make financial decisions in a globalized environment, and determine which parties benefit from either increasing or decreasing trade restriction.

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 Introduction to the Law and Economics of Intellectual Property Author(s): Stanley M. Besen and Leo J. Raskind Reviewed work(s): Source: The Journal of Economic Perspectives, Vol. 5, No. 1 (Winter, 1991), pp. 3-27 Published by: American Economic Association Stable URL: http://www.jstor.org/stable/1942699 . Accessed: 24/11/2011 08:39

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

Jain, S. C., & Bird, R. (2008). The Global Challenge of Intellectual Property Rights. Cheltenham, UK: Edward Elgar.

Intellectual property is described as a person’s ideas, inventions, or works that become their property. The owner of this property then has rights to the property. These rights protect the products of human intelligence and creativity. These rights have been categorized into three subjects: patents, trademarks, and copyrights. Each of these three categories have their own set of laws and policies. Each policy is set into place for specific reasons to protect the owner’s and their intellectual property from being subjected to intellectual property theft. IP theft is a growing industry of thieves that is becoming a much easier task since the invention of the internet.

Paragraph 5 of the Preamble of the TRIPS Agreement provides that “the underlying public policy objectives of national systems for the protection of intellectual property, including developmental and technological objectives” Accordingly, the Preamble is not an operative provision. Therefore, Professor Grosse Ruse-khan suggests that the position of the Preamble “merely opens a door” for other national interest to be taken into consideration, nonetheless the interest would not necessarily prevail. He contends that non-economic interest would be only considered as an “exception” to the right. Through the use of the flexibilities embedded in TRIPS, Professor Gervais contends the Preamble recognizes developing countries’ need to realize their developmental objects, such as innovation policy. However, he also stresses that the flexibility should be used in a manner that “[creates] a sound and viable technological

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

Intellectual property is the main elements for economic growth and national competitiveness. President Obama mentioned that the United States of America must support intellectual property rights to be successful in an increasingly competitive international market which help the American people to meet their goals. It clearly shows that supporting of intellectual property by government completely related to economy because it has a direct relationship with innovation which is the main buddy in economy, and its benefits will effect to every single industries. In addition, Intellectual property is not just the final product of workers and companies but also it has positive effects to innovation of products, supplies, and commercial activities (U.S. Patent and Tred mark office 2012).

The lawyer Gregory T. Victoroff said “At its best, sampling benefits society by creating a valuable new contribution to modern music literature. At its worst, sampling is vandalism and stealing”. Half-way between creativity and plagiarism, sampling is a controversial issue in the music industry and the infringement of copyright. In this assignment I’m going to be discussing copyright and intellectual property rights in relation to the music industry.

In modern times, the faith that society has in the intellectual property system of the United States of America is fading. “[Patents] include a wealth of attempts to reward friends of the government and restrict or control dangerous technologies. Trademark law has shuttled uneasily between being a free-floating way to police competition so as to prohibit actions that courts thought were “unfair” and an absolute property right over an individual word or symbol.” (Boyle. n.d.)

Adequate enforcement of trademarks, patents, and copyrights are heavily relied upon by industries across the economy. Consumers also rely on intellectual property to ensure the safety and quality of products. The brand connotes a level of quality. Strong IP rights help consumers to make an educated, confident choice about the safety, effectiveness, reliability, and authenticity of their purchases. In addition, “IP-intensive” industries account for 18.8%, 27.1 million, American jobs as of 2010 and provide economic stability. IP workers earn about 30% more than their non-IP industry counterparts. The IP industry creates and supports high paying jobs and can drive economic growth. IP laws support innovation and enable companies to have an advantage over their competitors. Economies that do not maintain protection for innovation provide companies with no incentive to innovate. Innovation typically requires significant investment in research and development that they may not be willing to undertake if protections are not there. In developing countries that distribute counterfeit goods and have weak IP rights, the working conditions tend to be poor with low levels of pay, workers may be exposed to health and safety risks, and there is high

Copyright, patents, and intellectual property laws are strong in the United States. However, different countries abroad may have lesser laws (or completely ignore) the proprietary usage of these intellectual properties.

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. Private property rights in China have only existed for a generation, and joint ventures will help to accelerate a shift in cultural attitudes.

India must seriously examine its Intellectual Property Rights (IPR) position and see how best TRIPS (Trade Related Intellectual Property Rights) can be interpreted, as IPR laws are national laws. India should cull the best points from various laws to suit her future needs.