The Right to Own Things: Intellectual Property Law

The legal bases for the idea that an entity can own something are ownershipOwnership systems, which concern material (i.e., tangible) items, such as wristwatches and land, and intellectual propertyIntellectual property systems, which concern immaterialImmaterial (i.e., intangible) items, such as ideas and brands. Even ownership systems, whose rationale for existing is rarely questioned in contemporary Japan because it is self-evident, have some grey areas, such as forbidding the organ trade. Furthermore, the contents of intellectual property systems, such as patent and copyright laws, are greatly swayed by other aspects, such as a country’s industrial policies. Thus, an understanding of these systems that links back to their reason for existing is particularly necessary. Economic analysis plays an important role in this understanding. Taking the perspective of efficiency, which is considered the premise of economics, is vital for constructing a system that stimulates the production or creation of information goods that benefit society, such as inventions and works of art, by providing monopoly rights. At the same time, the system must not overly restrict their enjoyment by society. In this chapter, we examine this perspective by comparing ownership and intellectual property rights based on actual patent and copyright systems.