What are the benefits that a society gets from intellectual property rights (IPR)?
In theory, intellectual property encourages innovation by rewarding scientists, inventors, artists, scholars, and other creators with exclusive rights to their ideas and expressions. This in turn results in greater artistic, scientific, and technological achievement, which in turn advances the economy and quality of life, and progress of humanity as a whole.
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It also satisfies a deeply held sense of ownership, that if you discover or make something it’s yours. This may be cultural rather than innate – not every society believes this about the fruits of creativity.
Whether an IP regime serves these goals depends a lot on the legal regime put in place around it, and how that plays in a given cultural and economic context. To establish something as property involves creating a bundle of rights such as a right to alienate it by selling, trading, or licensing, a right to exclusivity, the ability to create and enforce contracts about it, and a right to enforce ownership through legal means. A lot of fine tuning is involved, which could result in an effective IP system, or alternately, one that enforces privilege and disparity of wealth by denying basic things like life-saving drugs, software tools, or popular songs to those without ability to pay, that concentrates wealth by adding IP assignment terms to every employment or contractor relationship, or that suppresses innovation by denying creators access to what other creators have done. Even so, an unfair IP regime may (or may not) create wealth for a society.
Source: Quora
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