Open Access. Powered by Scholars. Published by Universities.®

Business Law, Public Responsibility, and Ethics Commons

Open Access. Powered by Scholars. Published by Universities.®

Claremont Colleges

2012

Articles 1 - 1 of 1

Full-Text Articles in Business Law, Public Responsibility, and Ethics

The High Cost And Value Of Patents: Finding The Appropriate Balance Between The Rights Of The Inventor And The Advancement Of Society, Andy Segal Jan 2012

The High Cost And Value Of Patents: Finding The Appropriate Balance Between The Rights Of The Inventor And The Advancement Of Society, Andy Segal

CMC Senior Theses

Property rights are the backbone of Western Civilization. Capitalism can only be successful if individuals feel secure about the ownership of their assets. Patents are the property rights granted to the inventor by the government. Without these rights, inventors will find it extremely difficult monetizing their contributions to society. Thus, in an effort to incentivize innovation and commit society to human progress, our Founding Fathers built our country on a strong set of intellectual property rights.

At the same time, nothing impedes innovation like a monopoly and, in essence, all a patent amounts to is a monopoly, the right to ...