Intellectual Property

What is intellectual property

Intellectual property is the same as other property rights. They allow the creator or owner of a patent, trademark or copyright work to benefit from their own work or investment.

Why promote and protect intellectual property rights

First, human progress and well-being depend on its ability to create and invent new works in the field of technology and culture. Second, the new invention of legal protection encourages more resources to commit to further innovation. Third, promote and protect intellectual property rights to promote economic growth, create new jobs and industries, and improve the quality of life and enjoyment.

An effective and fair intellectual property system can help all countries realize the potential of intellectual property as a catalyst for economic development and social and cultural well-being. The intellectual property system helps to strike a balance between the interests of innovators and the public interest, creating and creating a prosperous environment for the interests of all.

How do ordinary people benefit

Intellectual property rewards creativity and human endeavor, which is the driving force for human progress. The film, the recording, the publishing and the software industry have brought happiness to millions of people around the world without copyright protection. Without the incentives offered by the patent system, researchers and inventors would have no incentive to continue producing better, more efficient products for consumers. Without reliable trademark protection and enforcement mechanisms to combat counterfeiting and piracy, consumers are not confident of buying products or services.

Facing the problem

The development of the Internet has put pressure on traditional intellectual property rights, such as Copyrights and patents. Some forms of information are easily copied when accessed on the Internet. Because the cost of replication is low, and replication is often anonymous, the author's intellectual property is hard to secure. The traditional view of intellectual property protection is that it retains the incentives created by authors and inventors. Here's the argument: creative activity usually requires a lot of development costs. Artists, writers and inventors are not necessarily driven by economic interests, or even major motives. Nonetheless, the potential for high fees, the development and distribution of creative works means that many creators need a financial return to compensate for their development costs. This reward provides "innovative incentives". "If a work is copied, the original author/inventor may lose potential sales and profits, so the environment that allows replication will reduce innovation incentives." Due to the low profit outlook, some authors/inventors will be unable or unwilling to undertake initial development investment. They choose not to create. Intellectual property has suppressed the imitation, thus neutralized the effect. Under such protection, the author and the inventor are encouraged to create and create, as the creative activity gains and the society gains. So, in this model, the stronger the IP, the better. More stringent protection leads to less imitation, which promotes innovation and ultimately boosts social welfare. This argument is persuasive and has always been the main pillar of support for intellectual property protection.