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Justifications for copyrights, patents, & trade secrets are examined. The arguments that natural property results from the fruits of intellectual labor, & that such rights are deserved as a reward for this labor are found to be inadequate, as are arguments based on sovereignty, security, & privacy. The strongest argument for intellectual property -- that it provides the best possible mechanism for insuring the availability & widespread dissemination of intellectual works & their resulting products -- depends on unresolved empirical questions & thus is inconclusive. Intellectual property institutions are not as easily justified as is thought. AA

The papers in this volume represent some of the leading work on intellectual property. They address the question of how to create incentives to develop new technologies and how to protect those technologies once developed from theft. They also ask when valuable property might be developed even under weak ownership conditions. Other papers address how firms balance the trade offs in considering costly patent litigation and they examine the antitrust implications. Although issues of intellectual property rights would seem to be ones of interest only to obscure groups of academics and lawyers, they have become topics of everyday discussion among the regular population.Alleged copyright infringements by people downloading music from the internet and accompanying threats of prosecution as well as charges of strategic patenting to harm competitors in recent high profile antitrust cases have placed intellectual property into public and political debate. The incentives provided by secure property rights for promoting research and development, investment, production, and exchange are well known. These are the major arguments for patents, copyrights and other forms of intellectual property

"Modern Intellectual Property Law" combines coverage of each intellectual property right granted for creations of the mind into a thoughtful, unified textbook. Deconstructing the fundamental topics into short, clear sections separated by subheadings throughout, Colston and Galloway's text is the ideal student companion to this intriguing area of the law.

Preface -- Contents -- Editor and Contributors -- 1 IP Debt Finance and SMEs: Revealing the Evolving Conceptual Framework Drawing on Initiatives from Around the World -- Abstract -- 1 Introduction -- 1.1 IP Finance and SMEs: Debt Versus Equity -- 1.2 Equity Finance -- 1.3 IP-Backed Debt Finance and Information Asymmetry -- 2 International Economic Research to Underpin IP Finance Policy Developments -- 2.1 Office for Economic Cooperation and Development (OECD) Research -- 2.2 World Intellectual Property Organization (WIPO) and United Nations Commission on International Trade (UNCITRAL) Initiatives -- 3 IP Finance Developments in the UK and Europe -- 3.1 The United Kingdom (UK) -- 3.2 The European Union (EU) -- 4 The United States Patent Quality Initiative (PQI) -- 5 Government IP-Backed Debt Finance Initiatives in Asia to Stimulate Economic Growth and Address the Young SME Funding Gap -- 5.1 Singapore's 'IP Financing Scheme' -- 5.2 The People's Republic of China (PRC) IP Pledge Financing Program -- 5.3 Malaysia Debt Ventures Bhd (MDV) IP Financing Scheme (IPFS) -- 5.4 Hong Kong -- 5.5 Japan -- 6 Analysis of the Global Initiatives -- 6.1 Systemic Change and a Conceptual Framework for IP Finance -- 6.2 Lenders and IP-Backed Finance Policy -- 7 Conclusions and Outlook: Supporting the Agile Development of Globally Enhanced Access to IP Finance -- References -- 2 Intellectual Properties and Debt Finance for Startups -- Abstract -- 1 Introduction -- 2 Japan's Attempts to Introduce IP-Backed Lending and the Aftermath -- 3 The Questionnaire Survey -- 3.1 Method -- 3.2 Result of the Survey for Startups -- 3.3 Results of the Survey for Fund Providers -- 4 Discussion -- 5 Conclusion -- References -- 3 IP and Debt Finance: Cross-Border Considerations -- Abstract -- 1 Introduction -- 1.1 Background -- 1.2 Proposals and Debates at Milestone UNCITRAL Meetings