Short Notes: Intellectual Property Rights

Posted by Muhammad Jakirul Haque Talukder on Tuesday, May 27, 2014 | 0 comments




The general term for the assignment of property rights through patents, copyrights and trademarks.  These property rights allow the holder to exercise a monopoly on the use of the item for a specified period.  By restricting imitation and duplication, monopoly power is conferred, but the social costs of monopoly power may be offset by the social benefits of higher levels of creative activity encouraged by the monopoly earnings.

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