Human Knowledge Exclusive Property

Agreement

Intellectual property protections restrict innovation

Other companies are not allowed to use technology that is protected through IP.
IP stifles competition which restricts innovation in the long run as competition promotes innovation.
New product ideas that build upon previous products are discouraged as many of these previous products are patented by other entities and new product ideas cannot be pursued.

Intellectual property protections halt economic growth

Intellectual property protections do not allow for the free market to operate efficiently
Intellectual property protections allow for inefficient companies to have a monopoly on a product when they wouldn't in a free market which therefore results in a lesser economy.
IP permits companies to charge exorbitant fees for their products which hurts consumers and halts economic growth.

Intellectual property protections disadvantage American consumers

If Chinese companies steal product ideas, Americans are given more options for products
If Chinese companies do not follow intellectual property protections, products will become cheaper
Additional competition resulting in the destruction of intellectual property will lead to additional innovation

Disagreement

The medicine sector will be adversely affected.

Knockoff medicines will run rampant and existing systems will fail.
Research will lessen as medicine manufacturers will not have enough money to devote to research because of less profit.
Smaller companies will take the place of larger companies, resulting in a decentralized healthcare system which will be harder to regulate and will help fewer people. People will be dissuaded and will stop using these systems.

The entertainment industry will be adversely affected.

More than 50% of technology users have pirated television shows, leading to billions in losses. Entertainment companies need IP in order to protect their revenue streams.
Many users also pirate music and movies as well. IP enforcement is required in order to prevent this wave of piracy.
The core ideas of movies/tv shows can be replicated if not for IP protections.

The information technology sector will be adversely affected.

Many products in this sector use similar technologies. IP prevents for repetitive technologies and promotes innovation since some technologies cannot be used.
Proprietary algorithms could be shared and big firms will lose their value.
IP is required to protect online ideas. Without IP, the IT sector will suffer in this regard as online ideas can and will be stolen by everyone.

Visible Thinking Exercise

I used to think... that intellectual property protections were great tools that companies used in order protect their inventions. I thought that in a capitalist world in which everything is created is worth value, companies should have methods to protect their work from others. If a person or corporation spends time and money developing a product, then that product should be solely theirs.

Now I think... that intellectual property protections are great but only to a certain extent. Complete control over a certain product or technology stifles any and all innovation in that area. However, people and companies still should have the right to own what they made. Intellectual property protections should not be as powerful as they are now but should not be rendered weak as well. There should be a balance between full control and no control.

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