Intellectual property issues are getting considerable attention in contemporary society but most of these issues are more controversial. To start with, the idea behind copyright is quite simple because it is meant to help artists and innovators to enjoy the results of their hard work and it also ensures that there is a rich cultural wealth in the society (Branster, 2005). There are various issues that affect intellectual property rights development and one of these issues is piracy. Piracy is the theft of copyrighted materials especially cultural works and is one of the issues that have hindered intellectual rights protection and has threatened the creative sector in the country (Miller, 2000). The sectors that have been hit hard by piracy are the music and movie industries. Artistes in these industries have been ripped off by the rising number of pirates in the country and around the world that have compromised the protection of their intellectual property rights (Mossoff, 2000). The software industry has also been affected by piracy and this has hampered the progress of this industry because creators have not been achieving maximum returns from their hard work. Microsoft is one of the companies whose intellectual property rights have been violated by software pirates and the level of piracy is so high that fake software around the world is more than the original software.
The other issue affecting intellectual property protection and development is the theft of trademarks. A trademark is a concrete or abstract symbol that identifies and distinguishes goods made by different parties. They identify the producer of a product and they also serve as markers of accountability and they also assure quality. However, counterfeiters have been using trademarks illegally and this has resulted in the loss of assurance of quality and authenticity and this counterfeiting has seriously harmed original companies and deprived governments of revenues. Apart from harming original companies, they also threaten the well-being of the consumers who are duped by the counterfeiters (Velthius, 2005).
When counterfeiters strike, they violate the intellectual property rights and they deny the original manufacturers the chance of enjoying the fruits of their labor. When they violate their intellectual property rights, they also confuse the consumers who tend to associate the poor quality products with original companies (Maskus, 2009). This makes the consumers lose confidence in the original manufacturers meaning that these manufacturers pay dearly for counterfeit products that have been taken to the market using their original trademarks (Lai, 2007).
These issues affecting intellectual property protection have many economic ramifications (Hawkins, 2002). Any economic climate that has extensive infringement of intellectual property protection leads to little cultural and technological development and also reduces the willingness of creators to develop more products. Lack of adequate intellectual property protection has led to the slow death of cultural and technological establishments and has also stifled creativity in society (Cornell, 2004). Without enough competencies and strong frameworks to combat intellectual property rights violations, a country concentrates on copying rather than creating and innovating and it also forces the creators and innovators to leave that country in search of areas where there are sound frameworks that protect intellectual property (Dant, 2003). This means that governments should put in place mechanisms that should effectively address issues regarding intellectual property protection to ensure that instances of intellectual property rights infringements have been reduced to protect creative artists and innovators who have been ripped off by counterfeiters and pirates.
Reference List
Branstetter, L. (2005). Intellectual Property Rights.NY: Rutledge Connell, S. (2003). Intellectual Ownership. NY: OUP.
Dant, T. (1999). Material Culture in the Social World. Oxford: O.U.P.
Hawkins, J. (2002). The Creative Economy: How People Make Money From Ideas. NY: Penguin.
Lai, E. (2007).The Economics of Intellectual Property Protection in the Global Economy. NJ: OUP.
Lee, R. (2009). Scope and Interplay of IP Rights. NY: Sage.
Maskus, K. (2009). Intellectual Property Rights and Economic Development. NY : OUP.
Miller, A. (2000). Intellectual Property: Patents, Trademarks, and Copyright. New York: West/Wadsworth.
Mossoff, A. (2000). Development of Patents: An Intellectual History. N.J: Prentice Hall.
Velthius, O. (2005). Talking Prices. NY: Princeton University Press.