- Do Intellectual property laws stifle competition in the marketplace? If so, would consumers be better off if Intellectual Property laws were removed?
- Are intellectual properties considered private property under federal law? If so, does the legal system approach intellectual property laws the same as it approaches the protection of other private property such as a home or a vehicle, and should it approach it the same way?
- How do intellectual property laws help society as a whole and are they necessary to ensure honest and ethical business practices?
Well those are some good questions!
I'm a Law Student who plans to specialize in Patents and Intellectual Property, so maybe we can share some points of view on your questions.
What makes you choose a certain product over other? (not taking price points into account), probably which one works best, or because it has a certain ingredient that makes more sense to your needs.
So no, I don't think intellectual property laws stifle competition in the marketplace.
Also, if those laws were to be removed, you as a supplier would have nothing to differentiate yourself in the middle of so many products (also too keep in mind that most brands we consume are in one way or another under the claws of a bigger brand P&G for example).
No. While talking about private property you have documents that proof that place is yours.
How can you do that with an idea? The only real way to "proof" the idea is yours is if you have a patent on it first. Even in that case can be stolen, if someone shares an idea with you and you go patent it, under the law eye, the idea belongs to the patent owner. Take Thomas Edison for instance, the inventor of the light bulb right?
One thing you must know about are NDAs (Non Disclosure Agreement), this documents are signed between people or companies to ensure that whatever was spoken on a meeting does not get out.
This includes ideas. You might reach to a company member asking for advice for your project, but always make them sign an NDA I know people who had to learn it the hard way, after a business lunch, the guy's secretary was already patenting my friends idea and there was nothing he could do.
So, how it helps society? To ensure the honesty and ethic in a world where such things are basically myths...
I cannot count the amount of times that I go to restaurants and over hear million dollar ideas from people that have no clue what they are talking about and risking loosing their originality