How intellectual property influences innovation and growth in the economy depends on the application of intellectual property law. No intellectual property (IP) rights would hinder innovation. Complicated application of confusing and overreaching IP rights also hinders innovation. Now I see the USA systems as having overreaching claims of IP rights, IP rights granted for obvious ideas which then are used to extort those actually producing value and overall a system much in need of improvement.
Lawrence Lessig does the best job of presenting the value of improving our application of IP law.
- The Architecture of Innovation [the broken link was removed]
- Lessig at Wikimania 2006
Related: The Patent System Needs to be Significantly Improved – Patent Review Innovation – Is the US Patent System Endangering American Innovation? [the broken link was removed] – Do Intellectual Property Rights Help or Hinder Innovation? [the broken link was removed] by Amy Rowell