What so you think is the reason why intellectual property a major from of innovation in our economy
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What so you think is the reason why intellectual property a major from of innovation in our economy
What so you think is the reason why intellectual property a major from of innovation in our economy
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Innovation and Intellectual Property
Intellectual property protection is critical to fostering innovation. Without protection of ideas, businesses and individuals would not reap the full benefits of their inventions and would focus less on research and development.
Explanation:
In theory, intellectual property encourages innovation by rewarding scientists, inventors, artists, scholars, and other creators with exclusive rights to their ideas and expressions. This in turn results in greater artistic, scientific, and technological achievement, which in turn advances the economy and quality of life, and progress of humanity as a whole.
It also satisfies a deeply held sense of ownership, that if you discover or make something it’s yours. This may be cultural rather than innate – not every society believes this about the fruits of creativity.