Intellectual Property Rights, Resources Allocation and Ethical Usefulness
Bruno de Vuyst (Vesalius College and the Institute for European Studies, Vrije Universiteit Brussel, Belgium) and Alea M. Fairchild (Vesalius College, Vrije Universiteit Brussel, Belgium)
Copyright: © 2005
Intellectual property rights (IP) are established through the Trade Related Aspects of Intellectual Property Rights (TRIPS) Agreement (part of the Uruguay Round Agreements creating the WTO) as global and uniform. This absolute IP may provide such opportunities for rent-seeking that misallocations may occur, resulting in a perception of IP as ethically unuseful.