Date of Graduation
5-2024
Document Type
Thesis
Degree Name
Bachelor of Science in Business Administration
Degree Level
Undergraduate
Department
Economics
Advisor/Mentor
Cummings, Shaughan
Abstract
This thesis critically examines the shortcomings of current intellectual property (IP) laws in the face of rapid technological advancement and evolving digital landscapes. It argues that while IP laws were intended to incentivize innovation, protect creators' rights, and foster fair competition, they often fall short of these goals in practice. Through an analysis of various case studies and real-world examples, the thesis demonstrates how outdated IP laws can hinder progress, stifle creativity, and impede access to knowledge and resources, particularly in industries heavily reliant on patents and copyrights.
Furthermore, the thesis explores alternative models and proposals for reform, including open innovation, decentralized IP management, creative commons licenses, and alternative compensation systems. It suggests that reimagining the IP framework to embrace these alternatives could lead to a more dynamic and equitable system that better reflects the realities of the modern digital economy. Ultimately, the thesis calls for a comprehensive overhaul of IP laws to strike a balance between protecting intellectual property and promoting collaboration, innovation, and equitable access to knowledge in the 21st century.
Keywords
Intellectual Property; IP Laws; Economic Thought; Competition Law; Patents; Copyrights; Trademarks
Citation
Moles, M. (2024). Intellectual Property Rights: Examining Outdated Laws, Monopolies, Manipulation, and the Need for Modernization. Economics Undergraduate Honors Theses Retrieved from https://scholarworks.uark.edu/econuht/62
Included in
Antitrust and Trade Regulation Commons, Business Law, Public Responsibility, and Ethics Commons, Intellectual Property Law Commons
