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Public Policy : Article

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Intellectual Property and Innovative Entrepreneurship
Policy Dialogue on Entrepreneurship
11/3/2008
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Summary:

The creation of new ideas being essential to a growing economy, the U.S. government has continuously reformed rights of Intellectual property (IP) to maintain the most entrepreneurial climate possible. Recognized in the Constitution itself, patents for new inventions and copyrights for new artistic creations provide an incentive for people to both create and publicize their intellectual property. However, rules, protections, and the adjudication process surrounding IP requires constant reforms to keep up with challenges of the digital revolution. Piracy has become much easier, while at the same time patent laws in the U.S. are increasingly cumbersome. In many cases, innovation is being hindered by overly broad and specious court and agency decrees. This brief is on U.S. patents; copyrights will be treated elsewhere.

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