Why intellectual property?

Intellectual Property = Creations of the mind

Intellectual Property = Exclusivity through Uniqueness

 

So, why is IP important? Why should we protect creations of the mind? Why should there be exclusive rights given for people who create “intellectual property”?

 

In simple words - 

As an incentive. To promote progress. To spur innovation. To drive us forward.

Imagine a world with no IP protection

You spent half your life inventing the new aeroplane, and the very next day, your competitors have reverse engineered your invention and are able to manufacture it at half the price, leaving you, the inventor, stuck in a rut.

 

If this were the case, would you even bother re-inventing the aeroplane, when you know very well that the ideas and the technology will be whisked away from you and copied at a moment’s notice? 

Some points to ponder...

that IP is about business

tying in business strategies together with IP = recipe for success?