Science, Technology, and Intellectual Property
Science and technology provide many societal benefits, such as the enhancement of economic growth or quality of life. They also can produce negative, unintended consequences. Most societies promote science and technology, but this can be costly. Establishment of IPRs that protect new works and give innovators the right to profit from their creations provides incentives for expensive innovation without the need for direct government subsidies (Posner 2004). At the same time, IPRs may maintain or aggravate wealth inequities.
Author: Regular Articles
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