BEGINNER

Intellectual Property

MARCH 07, 2013

 

Intellectual property is a special privilege granted by government to the creators of ideas, art, technology, and so on. It gives them property rights for their creation, allowing them to demand compensation for its duplication. Types of intellectual property include copyrights, patents, and trademarks. Supporters of intellectual property claim that it encourages innovation that otherwise would not occur otherwise. Opponents argue that the intellectual property creates artificial scarcity and impedes the progress of the free market.

 

Intellectual Property Rights Debate - Sheldon Richman, Paul Cwik, Ivan Pongracic, Lawrence Reed

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