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What Economic Factors Should I Consider If I Want To Know The Relationship Between Innovation And The Presence Of Patents/copyrights?
Do copyright/patents (generally Intellectual Property Rights) stifle innovation? Does it slow down economic growth?
asked 4 months ago
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This is a much debated subject. However, if you look at it from a different angle, patents and copyrights help innovation and economic growth.
If a company or individual in rewarded by protecting his invention and gets rewarded for it, if someone wants to use it, then there is desire to invent and improvise. If I do not want to pay someone for his invention, then I must invent a new way of doing the same thing. Thus it helps rather than stifle economic growth.
answered 4 months ago
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