The economic impact of intellectual property rights: An overview and guide

This paper, adapted from a conference presentation in Venice, links the history of intellectual property protection to two important trends in this field: (1) the shifting baseline, from a presumption of no property rights and open competition, to the presumption that all intellectual effort deserves the award of a property right; and (2) growing awareness of the political economy of these rights, which legislators can create and strengthen with little direct effect on government budgets. The paper also considers a shift in the scholarly emphasis, from the brand question of the overall worth of intellectual property to defailed consideration of individual doctrines and rules.