Intellectual Property

Intellectual Property VS Standard of Living Thesis: How to increase your standard of Living through IPR Abstract: Private Vs Government Investment –How do you maintain a Comparative Advantage in the new communications environment Counter Argument : –R&D Tax Credits will the capital to sustain Growth

What Is Intellectual Property Copyrights,patents,trade secrets and trademarks Exclusive, temporary and tradable rights Enforcement by civil proceedings (IP rights fall to owners)

Patent and Copyright Patent –Length =17 years –Requirements novelty non-obviousness useful –Examination =Yes –Publication =Yes –Protection = Claims Copyright Length = 50+years Requirements –original Examination =Yes Publication = No Protection = Expression

Private Vs US Government R&D Funding

R&D Funding VS GDP

R&D Funding By Country

U.S. Patents Granted

U.S Patents Granted to Non Resident Inventors

US R&D Tax Credit Policy

Spillover Effects Gap can vary by country –R&D benefits may go to other countries Varies By Industry –Pharmaceuticals –Communications –Semiconductors

Spillover Effects Varies By Technology Type –Pure science Bohr: quantum mechanics Basic Genome Mapping –Goal-Oriented applied research Edsion: light blub/photograph electric batteries –Scientific Discoveries from solving practical problems Pasteur: bacteriology via wine research mathematics for encryption Prof. Bronwyn H. Hall

R&D TAX Credit Summary

IP Balance of Payments

Conclusion Most Economic Models show that for every dollar of R&D credit another dollar of private R&D funds is made Protection of IP very important to continued growth in standard of living Must Balance social costs Vs social benefits Increase in Government R&D needed to ensure social and political reform continue R&D Tax credit provides small entrepreneurs the opportunity to bring there inventiveness to marketplace