Intellectual and Modern Property Essay Example | Topics and Well Written Essays - 4000 words

Intellectual and Modern Property - Essay Example The protection afforded to intellectual property has been deemed vital to protect innovation and creativity in society, because if this economic incentive is removed, then there will be an erosion of the spur that propels the ingenuity and desire to create new works. Moreover, it protects the inventor from unscrupulous individuals who are able to profit from the innovative elements in the work, while also protecting the moral rights of an author to his own creation. However, conflicts have also been generated through the evolution of the Internet which has facilitated digital copying and modification of previously created works. Moreover, the extension of the duration of protection for copyrighted and patented works has been contested as a measure that interferes with the public rights to fair use of material, especially for information and research purposes. Therefore, it has become difficult to strike an appropriate balance between the protection of the rights of the creators of original works and the rights of the public. The question that will be examined in this research study is the extent to which IPR rights are a benefit to society. The economic incentive provided by IP rights to facilitate the creation of innovative works is undisputed and it also enables the propagation of wealth that is a benefit to society as a whole. Since it allows owners of copyrighted/patented works to earn more from their work, it also allows Government to increase taxes and improves the exchequer so that Government programs can benefit weaker elements of society. It also enables an artist/creator to be protected from unscrupulous elements and thus affords some protection to the vulnerable elements in society. An author is also legally entitled to moral rights to his work, however, in practice, this has not been rigorously upheld in the UK, as demonstrated in further material that follows. The right to ownership of property is the basis for a free and secure society, and by allowing ownership on patents, for example, there is also incentive provided to business to improve their investments.