A review of the pros and cons of intellectual property.
Written in 2003; 1,470 words; 4 sources; MLA; $ 48.95
Paper Summary:
Intellectual property has been credited with the stimulation of original work, and that intellectual property laws are necessary to create incentives to facilitate the production of original work. This paper argues that without such protection the quality of works created would be substandard and that the best creators may not work without those rights. It explains that to take these rights away would deny creators their rights to profit from their work by selling the ideas to interested parties. This paper also examines the other side of this issue to provide the reader a more balanced perspective on this matter.
From the Paper:
"Intellectual Property could be defined as an original thought process, which led to a creation of an idea, discovery, design, written work, or an invention. It becomes a product because somebody who may or may not be the creator owns it. The profitability of Intellectual Property depends on the marketability of the products based on it. Once Intellectual Property is created, there are ways for the creators to add value to their assets. One method is through licensing, and users pay set fees and royalties for the rights to use these properties. Another method is for the creators to sell them outright, thereby transferring ownership to the buyer. Yet the third method is to start a company or business around the idea. Through this method, additional value is added to this asset before future licensing or sale. If this strategy proves successful, the owners may eventually go public with an IPO or allow the company to be acquired by other parties. According to another definition, Intellectual Property the "Content of the human intellect deemed to be unique and original and to have marketplace value"and thus to warrant protection under the law. Intellectual property includes but is not limited to ideas; inventions; literary works; chemical, business, or computer processes; and company or product names and logos. Intellectual property protections fall into four categories: copyright (for literary works, art, and music), trademarks (for company and product names and logos), patents (for inventions and processes), and trade secrets (for recipes, code, and processes)? . Concern over defining and protecting intellectual property in cyberspace has brought this area of the law under intense scrutiny."
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