The Economic Structure Of Intellectual Property Law

This book takes a fresh look at the most dynamic area of American law today, comprising the fields of copyright, patent, trademark, trade secrecy, publicity rights, and misappropriation. Topics range from copyright in private letters to defensive patenting of business methods, from moral rights in the visual arts to the banking of trademarks, from the impact of the court of patent appeals to the management of Mickey Mouse. The history and political science of intellectual property law, the challenge of digitization, the many statutes and judge-made doctrines, and the interplay with antitrust principles are all examined. The treatment is both positive (oriented toward understanding the law as it is) and normative (oriented to the reform of the law). Previous analyses have tended to overlook the paradox that expanding intellectual property rights can effectively reduce the amount of new intellectual property by raising the creators' input costs. Those analyses have also failed to integrate the fields of intellectual property law. They have failed as well to integrate intellectual property law with the law of physical property, overlooking the many economic and legal-doctrinal parallels. This book demonstrates the fundamental economic rationality of intellectual property law, but is sympathetic to critics who believe that in recent decades Congress and the courts have gone too far in the creation and protection of intellectual property rights. Table of Contents: Introduction 1. The Economic Theory of Property 2. How to Think about Copyright 3. A Formal Model of Copyright 4. Basic Copyright Doctrines 5. Copyright in Unpublished Works 6. Fair Use, Parody, and Burlesque 7. The Economics of Trademark Law 8. The Optimal Duration of Copyrights and Trademarks 9. The Legal Protection of Postmodern Art 10. Moral Rights and the Visual Artists Rights Act 11. The Economics of Patent Law 12. The Patent Court: A Statistical Evaluation 13. The Economics of Trade Secrecy Law 14. Antitrust and Intellectual Property 15. The Political Economy of Intellectual Property Law Conclusion Acknowledgments Index Reviews of this book: Chicago law professor William Landes and his polymath colleague Richard Posner have produced a fascinating new book...[The Economic Structure of Intellectual Property Law] is a broad-ranging analysis of how intellectual property should and does work...Shakespeare's copying from Plutarch, Microsoft's incentives to hide the source code for Windows, and Andy Warhol's right to copyright a Brillo pad box as art are all analyzed, as is the question of the status of the all-bran cereal called 'All-Bran.' --Nicholas Thompson, New York Sun Reviews of this book: Landes and Posner, each widely respected in the intersection of law and economics, investigate the right mix of protection and use of intellectual property (IP)...This volume provides a broad and coherent approach to the economics and law of IP. The economics is important, understandable, and valuable. --R. A. Miller, Choice Intellectual property is the most important public policy issue that most policymakers don't yet get. It is America's most important export, and affects an increasingly wide range of social and economic life. In this extraordinary work, two of America's leading scholars in the law and economics movement test the pretensions of intellectual property law against the rationality of economics. Their conclusions will surprise advocates from both sides of this increasingly contentious debate. Their analysis will help move the debate beyond the simplistic ideas that now tend to dominate. --Lawrence Lessig, Stanford Law School, author of The Future of Ideas: The Fate of the Commons in a Connected World An image from modern mythology depicts the day that Einstein, pondering a blackboard covered with sophisticated calculations, came to the life-defining discovery: Time = $$. Landes and Posner, in the role of that mythological Einstein, reveal at every turn how perceptions of economic efficiency pervade legal doctrine. This is a fascinating and resourceful book. Every page reveals fresh, provocative, and surprising insights into the forces that shape law. --Pierre N. Leval, Judge, U.S. Court of Appeals, Second Circuit The most important book ever written on intellectual property. --William Patry, former copyright counsel to the U.S. House of Representatives, Judiciary Committee Given the immense and growing importance of intellectual property to modern economies, this book should be welcomed, even devoured, by readers who want to understand how the legal system affects the development, protection, use, and profitability of this peculiar form of property. The book is the first to view the whole landscape of the law of intellectual property from a functionalist (economic) perspective. Its examination of the principles and doctrines of patent law, copyright law, trade secret law, and trademark law is unique in scope, highly accessible, and altogether greatly rewarding. --Steven Shavell, Harvard Law School, author of Foundations of Economic Analysis of Law

In 2009, the Association for the Advancement of Teaching and Research in Intellectual Property (ATRIP) dedicated its yearly congress to the theme Horizontal Issues in IP Law; Uncovering the Matrix. That theme and the main concern of the so-called Intellectual Property of Transition Project have been brought together by the editors of the current book under the intriguing title The Structure of Intellectual Property Law Questioned, is whether the apparent compartmentalisation and fragmentation of actual intellectual property law can be based upon a coherent system that supports the entire field. In other words: it is questioned whether one organising principle which underlies the different parts of this domain of law can be found. Not surprisingly, the answers given by the various experts that contribute to this book tend to differ, mainly depending on their field of interest: copyright law, patent law, trademark law, the main tendency being in favour of tailoring instead of unifying both from the perspective of efficiency and that of economics. However, even more interesting than the answers to the question posed, are the stimulating and thought-provoking analyses which the book offers. This is really a book one should read if one is interested in the conjunction of the basic principles of intellectual property law and how they work out in practice. Willem Grosheide, Utrecht University, The Netherlands Today, intellectual property is a broad genus embracing various more specific species - invention patents, copyright, trade marks and so forth. Anyone concerned with how this ever-expanding grouping is developing should read the fourteen essays in this book. Written by leading scholars, they tackle not only the relationships between the species, but also those between sub-species. Originally presented as papers to the Association for Teaching and Research in IP, the writing is both subtle and full of verve. Strongly recommended. William Cornish, Cambridge University, UK This well-researched and highly topical book analyses whether the ever-increasing degree of sophistication in intellectual property law necessarily leads to fragmentation and inconsistency, or whether the common principles informing the system are sustainable enough to offer a solid and resilient framework for legal development.

Cass and Hylton explain how technological advances strengthen the case for intellectual property laws, and argue convincingly that IP laws help create a wealthier, more successful, more innovative society than alternative legal systems. Ignoring the social value of IP rights and making what others create “free” would be a costly mistake indeed.

Sherwood examines the historical evolution of intellectual property as a legal and commercial institution. He introduces the five basic categories of protection--patents, copyright, trade secrets, trademarks, and mask works--and discusses how intellectual property protection works in practice. He examines the influence of economic theory on the study of intellectual property in relation to economic growth in developing countries; the impact of intellectual property protection on the economic development process in Brazil and Mexico; and the impact of weak intellectual property protection on research activity at traditional technology source points, on technology intermediation, and on efforts to provide financial support for research. He concludes with propositions to support national policies of weak protection for intellectual property rights, with examples of Japan and Korea. ISBN 0-8133-8019-7: $28.50.

Intellectual property has traditionally been a matter for the legal professions, but with the shift to evidence-based policy, the global economic upheaval, and the advent of the digital age, intellectual property is increasingly informed by economic perspectives. This book offers provide a clear and practical guide to economic approaches to intellectual property, written for a legal audience. It introduces basic concepts in economics and finance that inform the law of intellectual property. Topics discussed offer additional perspectives include the economics of innovation, development, crime, law, industrial organization and welfare. Next, it considers the economics of specific intellectual property rights, including copyright, patents, trademarks, trade secrets, geographical indicator and design rights, as well as a section on competition. Finally, a section on applied approaches to the valuation of IP will help readers to understand the use of these topics in practice. This practical guide offers readers a better understanding of economic debates in intellectual property, as well as tools to enhance their ability to critique evidence-based policy.

Both law and economics and intellectual property law have expanded dramatically in tandem over recent decades. This field-defining two-volume Handbook, featuring the leading legal, empirical, and law and economics scholars studying intellectual property rights, provides wide-ranging and in-depth analysis both of the economic theory underpinning intellectual property law, and the use of analytical methods to study it.

Introduction -- Intellectual property rights basics -- Global intellectual property holdings -- Contribution of intellectual property to U.S. economy -- The organized structure of IPR protection -- U.S. trade law -- Issues for Congress.