Economic Growth and Prosperity Stem from Effective Intellectual Property Rights
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2017]
ECONOMIC GROWTH AND PROSPERITY STEM FROM EFFECTIVE
INTELLECTUAL PROPERTY RIGHTS
Dr. Kristina M L. Acri, ne Lybecker*
INTRODUCTION
This essay sets out to examine, through the lens of economics and
growth, the ways in which intellectual property (IP) rights benefit individ-
uals. The interrelated nature of intellectual property, innovation, and jobs is
essential to economic prosperity, and this piece seeks to establish the im-
portance of these relationships.
Determining the role of IP in innovation, and the economic benefits that
flow from innovation, is inherently challenging. Given that it is very difficult
to prove why something does not happen, establishing the value of intellec-
tual property rights protections is most easily approached by examining
where innovation happens and drawing a correlation to the corresponding
strength of intellectual property protection environments. This essay seeks to
show that the below concepts substantiate the importance of effective intel-
lectual property rights to innovation and economic growth:
*The economic fundamentals of production characterized by high
fixed costs and low marginal costs;
* Associate Professor of Economics, Colorado College. This piece draws from and expands upon
several posts I have written for IP Watchdog, a leading blog covering topics related to intellectual property.
See generally Kristina Lybecker, Distorting Innovation: Fixed Patent Terms and Underinvestment in
Long-Term Research, IPWATCHDOG (Nov. 5, 2015), http://www.ipwatchdog.com/2015/11/05/
distorting-innovation-fixed-patent-terms-and-underinvestment-in-long-term-research/id=62918/; Kris-
tina Lybecker, IP Protection Incentivizes Innovation and Creates Jobs: A Message Worth Repeating,
IPWATCHDOG (June 8, 2015), http://www.ipwatchdog.com/2015/06/08/ip-protection-incentivizes-inno-
vation-and-creates-jobs-a-message-worth-repeating/id=58443/; Kristina Lybecker, What If We Don't
Have Sufficient Intellectual Property Rights?, IPWATCHDOG (Apr. 3, 2015), http://www.ipwatch
dog.com/2015/04/03/what-if-we-dont-have-sufficient-intellectual-property-rights/id=56169/; Kristina
Lybecker, IP Protection is Key to U.S. Job Creation, IPWATCHDOG (Mar. 23, 2015), http://www.ip
watchdog.com/201 5/03/23/ip-protection-is-key-to-u-s-job-creation/id=55978/; Kristina Lybecker, How
to Promote Innovation: The Economics of Incentives, IPWATCHDOG (July 21, 2014), http://www.ip
watchdog.com/2014/07/21 /promote-innovation-the-economics-of-incentives/id=50428/; Kristina
Lybecker, The Economic Case for Strong Protection for Intellectual Property, IPWATCHDOG (May 2,
2014), http://www.ipwatchdog.com/2014/05/02/the-economic-case-for-strong-protection-for-intellectual
-property/id=49376/.
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Economic Growth and Prosperity Stem from Effective Intellectual Property Rights
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