Conceptual Frameworks Underlining Intellectual Property Rights

Intellectual property (IP) rights are defined as the set of privileges granted by the provisions of law that are designed to protect creations of the mind that are intangible. There are quite a number of theories that justify the existence of these IP laws:

1. Natural Rights Theory
– Main Tenet: Intellectual creations go hand in hand with the personal character of the creator.
– Justification: In the same way people have claims over physical lodgings, there should be claims over their thoughts. This theory expounds on the right of an individual to control his or her creative works.

2. Utilitarian Theory
– Main Tenet: The existence of IP rights can be defended on the basis that they promote greater utility.
– Justification: It works as an economic engine creating demand, therefore supply and then economic and social development. This is a benefit oriented theory seeking protection of IP.

3. Personality Theory
– Main Tenet: All intellectual creation exists because it is a need of social life and every person’s personality is expressed in such creation.
– Justification: Protection of IP rights is protection of the identity and freedom of the creator. This theory is concerned with the ethical and social importance of the creation of ideas.

4. Labour Theory
– Main Tenet: Contrary to popular belief, the creator’s effort labor transcends the person into intellectual property.
– Justification: As a result of a monopoly right, the authors will receive a return on their efforts and capitalization. An economic conceptualization of intellectual properties is what this perspective on IP rights gives.

5. Social Contract Theory
– Main Tenet: The very notion of IP rights constitutes a social relation between the creator and the community at large.
This theory clamors for a justification as rights are given only to the creators in acceptance for their contributions to the society. This theory also brings in the aspect of individual rights and collectivism.
These theories are distinct but often, they merge and cross each other to fit the multifaceted understanding of the rationale behind IP rights.