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Just how much should society protect intellectual property from infringement? Are safeguards necessary to ensure economic incentives for inventors, or is the wiser course to distribute gains more equitably through public acquisition of IP rights? Knowledge and intellectual property are widely regarded as key drivers of economic and social well-being. Yet this relationship is frequently misunderstood. In this volume, from the Surveys of Recent Research in Economics series, authors Michael McAleer and Les Oxley review in-depth the economic and legal ramifications of the IP rights question. History teaches us that each technological advancement creates its own winners and losers. The debate between the push for individual control of property rights and the drive to build an 'intellectual commons' for the good of all is an inevitable component of 'political economy'. This book explores the role of economic incentives in society and ultimately how to protect the rights of both producers and consumers.
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