The economic effects of intellectual property laws Research Paper

The economical effects of intellectual seat laws - Research Paper ExampleIt is worth mentioning that property rights fanny be owned by a person under the US Intellectual Property Law in three major forms in terms of Patents, Copyrights, and Trademarks. Patents are defined as the exclusive rights which are disposed(p) for a specific period of time to a particular invention in any miscellanea of technology related fields having the potential of industrial application. In case the technology based inventions waste been conducted under the supervision and with the funds of a corporal entity, the patent for such inventions is to be entitled to the corporate entity/entities engaged with the invention process through a contract or sympathy where the breach of agreement to sell the patent with the consent of other parties (when there are more than one entity engaged) shall also be termed as irreverence of the rights (VoiceFill v. West Interactive Corporation et. al.). Similarly, copy rights are also a kind of exclusive rights which are issued to authorships related to the fields of art or literature for a specific period of time. Trademarks acquit with the exclusive rights for any kind of specific sign or a particular combination of sevenfold signs which can distinguish the identity of one good and/or service from the other such as in the case of company logo. Unlike other exclusive IP rights, the trade inmarks are not trenchant for only a specified time period, but can be held by the creator(s) (i.e. mostly a corporate entity) until they wish to sell the property right to someone else (Valmont Industries, Inc. v. Lindsay Corporation et. al.). It is in this context that the infringement of either of these rights in order to use the properties without permission is called piracy which is strictly prohibited under the US Intellectual... This paper critically evaluates the American government policy in the sphere of protection of the intellectual property, whic h straightway influence not only the growth of domestic economy, but the economic state of most maturation economies, as well.Intellectual property (IP) is often defined as the personalized ideas, inventions, as well as gathered information by an entity that can either be a corporate, a person or even a group of people. These intellectual properties are considered to possess significant commercial value in the local, national as well as global market. It can be stated that the enforcement of intellectual property laws have a considerable impact on the economic structure of a country. For instance, by cut back the unwanted and unpermitted use of the IPs, the law tends to raise the value of the patents, trademarks and encourage innovation. On the contrary, enforcing Intellectual Property Laws can also result in decreased employment, especially in the developing economies where a considerable likeness of the entire labor population is engaged in manufacturing and selling the ideas without permissionIt is worth mentioning that FDIs and international trade relationships are considered to be quite vital , as major drivers of growth and development along with innovation. It is requirement to identify what implications Intellectual Property Rights have on the international trade relations and the generation of FDIs so as to have a better insight to the economic growth and development