What economic factors should I consider if...?

Question

What economic factors should I consider if I want to know the relationship between innovation and the presence of patents/copyrights? Do copyright/patents (generally Intellectual Property Rights) stifle innovation? Does it slow down economic growth?

Answer 1

arguments, yeah go throu aids drugs in africa  case where prof stiglitz argues that patents r necessary 4 innovation microsoft case etc for a counter agument...........................

existance of 'generics' don't it's argued but rpocess of patentinf basic concepts or ideas may or rash patetnting not considering other's intellectual rights.

As someone had said 'Originality is the art of hiding of sources'

Again abscence would make it difficult to earn revenues a deadweight lss on r&D assuming competition, considering the lost appetite to pay and learn learn and expand ......( if all knowledge was free)

but this is also true that innovations slow down;

considering socio-political factors; sowing down growth is an distant possibility and has never been reported ................

(all u see is probably defence against lost opp. which succeed) on international level

Answer 2

The invention or creation of something new, however, is just the first part of the innovation process. American economists Dr. Frederick M. Scherer and Dr. David Ross have identified four other stages of this process called innovation: entrepreneurship, investment, development, and diffusion. Entrepreneurship is the stage in which one decides to commercialize an invention, organizes the process and gets initial financial support. Investment is the stage during which capital funds are risked. Development is the stage in which the invention is perfected for commercial marketing. Finally, diffusion is the stage where other competitors follow the pioneering firm into that commercial market. As we can see, innovation is a complicated and multi-faceted process, so when we use the term innovation it is shorthand for the entire process of taking a new invention or the expression of an idea and bringing it to market.

Although there is certainly more to learn about the innovative process, we do know quite a lot about innovation already. We know that successful innovation can be an uncertain process, with many "failures" before a particular invention results in successful innovation. We know that the later stages of innovation can be expensive and that while much innovation is privately funded, public funding of innovative effort can play an important role in some industries. We know that market leaders tend to focus on incremental innovation while challengers to the market leaders are more likely to move in new directions. And we also know that the welfare of a society is improved when public policy encourages not only the initial spark of creativity, but also the entire dynamic process of developing improved goods and services or developing more cost-effective methods of producing and delivering these goods and services