Explore the critical role of intellectual property rights in fostering innovation and economic growth in this insightful lecture by Adam Mossoff, part of the Hayek Lecture Series at Duke University. Delve into the fundamental concepts of patents, trademarks, and copyrights as essential property rights that drive technological advancement and commercial success. Examine historical examples, such as the Sewing Machine War and the story of Goodyear, to understand how intellectual property protection has shaped industries and encouraged invention. Learn about the democratization of innovation, the function of patents as assets and collateral, and the development of secondary markets and patent pools. Analyze macroeconomic evidence linking strong intellectual property rights to national wealth and technological progress. Gain a comprehensive understanding of how intellectual property laws impact economic systems, from individual inventors to global markets, in this thought-provoking 58-minute presentation by a leading expert in the field. Read more