LAW 601 Lecture Notes - Lecture 1: Digital Economy, The Employer, Grey Market
11 Apr 2016
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Document Summary
Intellectual property = intellectual capital that can be legally protected. Goal of copyright is to get more arisic works to the public rather than just more works per se. It can be expensive to make, and cheap to copy therefore, copyright protects work and beneits the public. Soluion: rights to exclude for marks for goods/services. Patent act, copyright act, trademarks act most forms of intellectual property are statutory; they exist because the legislature has passed laws creaing them. (excepions: trade secrets/conidenial informaion, passing-of) Ip rights are national rights not internaional. Intellectual property is automaically more risky than physical assets. It can be used by another (taken from you) without you knowing therefore, generally need higher expected return. Non-rivalrous: consumpion by one consumer does not prevent consumpion by another consumer . Non-excludable: individuals cannot be efecively excluded from use . Intellectual property law acts to make intangibles excludable.
