Please read Chapter 6 in the textbook and complete the homewotk over that chapte

Question

Please read Chapter 6 in the textbook and complete the homewotk over that chapter before contributing to th is discussion. The concept of ownership is a natural one. Rights that nomally come with ownership include 1) the right to possess something; 2) the right to exclude others from using that thing, 3) the right to license another's use of that thing, and 4) the right to transfer ownership of that thing to another person. These concepts make perfect sense when you apply them to a tangible object like a book However, these concepts become ridiculous when you apply them to an idea. The ownership of ideas (intellectual property) is an absolutely artificial construct. In the United States, we have gone to great lengths to create laws that allow/enforce the ownership of ideas: patents, copyrights, trademarks, and trade secrets. Why have we gone to so muci trouble to create these artificial forms of ownership (what purpose do intellectual property rights serve)? Do our intellectual property laws serve this intended purpose? What is sacrificed in an attempt to achieve this purpose?

Explanation / Answer

The artifical forms of ownership that are intangible as compared to the conventional ways where one actually possessed the item / object in case, are extension of the later. These new methods were created when the conventional methods were no longer suitable / relevant to manage the ownership issues with changing conditions of trade, technological development, size and scope of business to name a few.

The new methods were brought in because the intangible properties were more difficult to monitor, control and protect because they did not exist at a single place, can't be possessed physically and protected by guns and guards. These were omnipresent, transcending the boundaries of nations, continents and geographies. Most importantly, the theft or encroachment of ownership was difficult to find out immediately, and the ownership was difficult to assert and exercise, given the global nature of the property. This gave rise to the legal ways of protection of such property.

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