Question

I think intellectual property is a not an incentive for new ideas. Easterly gives a prime example of when computers first came out. Apple and Windows were (and still are, to be honest) too similar. I agree with Easterly in the fact that patents can discourage others into not creating new technology. Not just because of the patent, but because of the depreciation of that technology when something new and better is created to replace it. The unfortunate part of technology today is that complementary items are made newer every single year. For example, your iPhone (that you may or may not have). Apple innovates a new iPhone annually, people flock to it (of course, because who doesn’t want that better camera?), and then previous iPhones are sold for much less than what they were originally sold for.How do you think?

Answer 1

Yes, I think that intellectual property is not an incentive for new ideas.

Intellectual property rights such as patents , trademarks, copyrights , etc. Stops others from bringing new innovations to existence because of rights of technology with others.

As discussed above , not just patents but also depriciation causes others to not bring new innovations in the market as people are upgrading to new things very quickly and the old things get depriciated very fast and sold at a very low rate.

Whenever there is an increase in technology of the complementary products people decrease the demand for the old products .

Also , patents, copyright holders do not allow to use their innovations to enter the market to be on safe side and earn what they want.

So, these intellectual property rights are not a good incentive for new ideas.

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