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How Copyright Laws Are Contracting Our Economy

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Submitted By fh9577
Words 3176
Pages 13
Zack Fellows
Professor Gilliard
English 1190 M/W 1200-155

How Patent and Copyright Laws are Contracting our Economy

Patent and copyright laws have played a very intricate role in the United States economy all throughout our history. Most recently, they have played a very crucial role in protecting intellectual property, distinct types of creations of the mind for which a set of exclusive rights are recognized under corresponding fields of law. When the United States put into agreement the North American Free Trade Agreement(NAFTA) , and opened up a lot of our trade barriers with countries all of the world, the key idea was that we were going to begin to change the face of our economy. We were going to do this by profiting off of our intellectual property and enforcing our strong patent and copyright laws around the world while slowly ridding ourselves off our manufacturing base. As the years passed, patent and copyright applications soared through the roof and it seemed as if the idea of intellectual property was working very efficiently. Innovation seemed to be coming from everywhere as there was a high motive to be able to patent or copyright your idea and make heavy profits. This innovation was a crucial part in the rapid expansion of our economy during the 1990’s, but soon this expansion came to a halt. This is heavily due to the fact of the enormous number of patents and copyrights that are being issued: over 240,000 in 2010, which in turn is hindering people’s innovation of new ideas because the groundwork of so many creations is now patented or copyrighted intellectual property (Marks & Clerk/UK). Copyright and patent laws on intellectual property were created to increase incentives for innovation resulting in the expansion of our economy; they did a very good job of this but as years passed and the amount of patents rose rapidly, these laws have…...

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