Economics -- Proprietary Intellectual Rights Essay

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However, at the outset, all prospective inventors and authors have the same right to create any work of their choice that might generate profit. In the case of both patent rights and copyrights, the award of exclusivity is justified to prevent other entities that did not contribute to the development of marketable ideas or products from benefiting from the work of entities that created that value.

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This is merely one manifestation of a classic legal principle of avoiding unjust enrichment (Halbert & Ingulli, 2008). To the extent they can be differentiated, it is only that the underlying motivation for recognizing patent rights is that doing so promotes innovation whereas copyrights are mainly related only to unjust enrichment concepts......

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