Law Commons^™

Community Control And Compensation: An Analysis For Successful Intellectual Property Right Legislation For Access And Benefit Sharing In Latin American Nations, Laurie K. Egan

HMC Senior Theses

Abstract: Indigenous communities have worked for centuries to develop systems of knowledge pertaining to their local environments. Much of the knowledge that has been directly acquired or passed down over generations is of marketable use to corporations, especially in the pharmaceutical industry. Upon gaining the necessary information to convert traditional knowledge into a marketable entity, the corporation will place a patent on the product of their research and development and reap the monetary benefits under the protection of intellectual property legislation. Without appropriate benefit sharing, indigenous communities are robbed of their cumulative innovation and development and denied access to …

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 …