chapter  2
30 Pages

Justification

Information forms the raw material of progress and is the new form of wealth. Ideas in the form of information and knowledge are the substance matter of intellectual property. Intellectual property protects ideas by creating fences around them in the form of exclusive rights. These rights restrict the flow of those ideas, creating an artificial scarcity. However, information is dynamic in the sense that it continually develops as it is put to use. It is also cumulative in that new ideas stem from those already placed in the public domain, which can be regarded as a common resource for developing ideas and information. Importantly, this dynamism is dependent on access to ideas and unrestricted communication of them.