Skip to content

Intellectual Property Or Intellectual Rent?

August 5, 2008

The problem with Intellectual Property (IP), it seems to me, is that it is very strange kind of property: one that is neither bought nor sold! How does government decide what should be patented and what shouldn’t? A naive solution would be to require the petitioner to “buy” the new IP right, by “trading in” an old IP right. This mechanism would at least keep in check possible hyper-inflation of IP rights. What am I doing wrong?

Update: Well, I was too quick. IP rights are indeed bought and sold, so a spontaneous market already exists.

Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: