American Bar Association’s Landslide: Intellectual Property Laws: Accelerating Genius or Ruining the World, by Thomas L. Stoll
This post originally appeared in the American Bar Association’s Landslide publication on July 18, 2016.
Intellectual property (IP) attorneys all seem to know that IP laws are extremely beneficial to society, in fact, necessary for promoting innovation. We appreciate that the patent laws provide the incentive for inventors and companies to invest in the development of new technologies by knowing their investment can be protected. Abraham Lincoln described the beneficial effect that patent laws have on innovation as “add[ing] the fuel of interest to the fire of genius.” They also aid society by encouraging the disclosure of that “genius” by even the smallest of companies, without fear that their new ideas will be stolen. Companies armed with intellectual property are often a better bet than those without, raising certainty and attracting investors.