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GLOBAL DIMENSIONS OF INTELLECTUAL PROPERTY RIGHTS IN SCIENCE AND TECHNOLOGY
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We live today in a world in which the economic health of nations and the competitiveness of firms is determined largely by the ability to develop, commercialize, and most importantly, to appropriate (or capture) the economic benefits from scientific and technological (S&T) innovations. Intellectual property rights (IPRs), such as patents and copyrights, are an important means used by firms to help protect their investments in innovation. They are legal instruments that have been used by governments for centuries to encourage industrial development and economic growth. IPRs protect investments in innovation by granting the innovator a temporary monopoly on the use of the innovation. This prevents rapid imitation that could cut into the innovator's returns and decrease the incentive to innovate. By restricting imitation, however, IPRs arguably raise the cost of the new technology and restrict its availability. This may, in turn, retard further progress in the technology by preventing other firms from developing new innovations or improvements that build on the original innovation in a cumulative way. If the new technology has productivity-enhancing effects when used in economic activity, these too may be retarded by the protection of the original innovation.
NATIONAL ACADEMY PRESS - Organizational Body
0-309-59620-3
NONE
GLOBAL DIMENSIONS OF INTELLECTUAL PROPERTY RIGHTS IN SCIENCE AND TECHNOLOGY
Business Policy and Strategy
English
1993
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