chapter  8
Intellectual property protection and capital markets in the new economy
ByKeith E. Maskus
Pages 16

The global economy continues to see considerable progress in the development and use of technologies and products characterising the so-called ‘new economy’. In such areas as computer software, personal computers, electronic commerce, internet transmission of digital products, telecommunications, compilation of databases and biogenetics, innovation has at its core the development and use of information. Information is often costly to produce but is essentially a public good: non-rival and difficult to exclude without legal protection. Thus, intellectual property rights (IPRs)— patents, copyrights, trademarks, trade secrets, and related devices-have become a central issue in countries that wish to promote such innovation.