Term Paper: Intellectual Property

Pages: 2 (579 words)  ·  Bibliography Sources: 1+  ·  Level: College Senior  ·  Topic: Business  ·  Buy This Paper

Stallman (2008) notes that intellectual property is an ambiguous term that obfuscates the purpose of the individual laws. The body of copyright law is intended to protect artistic works, while patent law developed in order to protect the ideas of inventors. Trademark law is a different animal entirely from those two, which are similar in the sense that they protect different creative works. Trademark law is a business law that seeks to ensure that there is no confusion in the marketplace, by granting certain protections to brands, icons and slogans used in commerce.

The concept of intellectual property affects competition in the marketplace in several ways. First, it provides an avenue for firms to gain monopoly rents on an idea or a brand, something that is integral to the system of monopolistic competition that forms the foundation of our commercial economy (Stallman, 2008). This is especially true of patent law. Trademark law also has significant commercial implications because it defends against consumer confusion, by offering protections that specifically pertain to the key elements of branding why which a company differentiates itself from its competitors.

Copyrights are a little bit more interesting with respect to competition because they do represent monopoly rights. They can be bought and sold, as well, so that the proceeds are not even accruing to the creators of the work. A company gets less benefit out of copyrights compared with trademarks, but copyrights still have trade value.

2.

The judge found that the second company did not violate the rights of the first company, because the material in question was not intellectual property (Masnick, 2008). Specifically, the judge found that the materials were not differentiated enough as to constitute copyright, patent or trademark. The materials were,… [END OF PREVIEW]

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