The Forum > Article Comments > We need IP in the TPP for Australia's prosperity > Comments
We need IP in the TPP for Australia's prosperity : Comments
By Alex Butterworth, published 20/2/2014Australia's respect for intellectual property has helped create a sophisticated economy with diverse hi-tech industries. Our biotechnology sector is perhaps the most compelling example.
- Pages:
-
- Page 1
-
- All
Posted by Rhian, Thursday, 20 February 2014 3:00:58 PM
|
- Pages:
-
- Page 1
-
- All
It is true that IP protection provide incentives for researchers and companies to invest in R&D that can be of great benefit to the community. But it is also true that these protections mean that producers can sell their products at massive mark-ups compared to their cost of production for many years.
From the point of view of the community’s welfare, the trick is to balance these competing interests: too little IP protection, and innovation and R&D suffer; too much, and we pay too much for too long.