Intellectual Rights and the Business Cycle

Paper Summary:

This paper explains that intellectual rights are something that almost every business today has to deal with in some form or other. While the concept is a relatively new one, it has, nonetheless, become a concept that no business today can afford to ignore. It shows how intellectual rights can affect every part of the business cycle, and a company that ignores this issue does so at its own peril. The writer points out that companies can be forced out of business or find themselves in complicated legal trouble over intellectual rights if they abuse the intellectual rights of others. Businesses can also find themselves mired down in lengthy court battles and in financial peril if they ignore their own intellectual rights.

From the Paper:

"These rights are given or conferred on a person or company by law, and can be given, sold, rented, and even mortgaged (in some countries) to others for the time that the owner holds the intellectual rights to the intellectual property. However, unlike other types of ownership, the ownership of intellectual property often comes with limits, such as time limits. It is also important to remember that with intellectual property, it is only the rights to the property that are owned, not the property itself. So, for example, a person or a company may own the intellectual rights to a certain invention, but they only own the rights to the use and license of the invention, not the invention itself. This may make the term "intellectual property" a little bit misleading to some people. However, while the person or company has the rights to use and license certain intellectual works, those works are essentially the property of that person or company, even if this is not the case in actuality."

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