Given the importance of innovation in the business field and the issue of patent trolls, do you believe Intellectual Property Law has a good or bad impact on business?

Description

From this module, you learned that there are four “flavors” of Intellectual Property Law. While we cannot legally protect an idea, we can protect what it becomes in one of these four areas, including (1) Patents, (2) Trademarks, (3) Copyrights, and (4) Trade Secrets.

With the accessibility of information and significant competition in the business field, we often see issues of Intellectual Property facing businesses today. A recent case regarding the popular “blurred lines” song provides an example of Intellectual Property Law, where Robin Thicke and Pharrell lost in a Multi-Million Dollar ‘Blurred Lines’ Copyright Infringement Lawsuit.

John Oliver of “Last Week Tonight,” on HBO is not a fan of patent trolls. In a recent episode, Oliver skewers patent trolls, or companies that make most of their money not from producing goods or providing services but by amassing the rights to numerous patents and suing as many people as possible.

Given the importance of innovation in the business field and the issue of “patent trolls,” do you believe Intellectual Property Law has a good or bad impact on business? Remember to use PICK Analysis to explain your reasoning. Please also provide additional examples of intellectual property issues from current events today, similar to what we saw presented in the “Blurred Lines” case. Remember to review and respond to at least two of your classmates’ posts

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