IP rights lower inflation – innovations stifle prices

[Gary,07/13/2023, American Public University, “What Is Intellectual Property Law? And Why Does it Matter?”, https://www.apu.apus.edu/area-of-study/security-and-global-studies/resources/what-is-intellectual-property-law/#:~:text=IP%20Laws,variety%20of%20products%20and%20services, accessed 7/11/2024, LR]

IP Laws

IP rights are also important for consumers. By protecting creative works, intellectual property laws help to ensure that consumers have access to a wide variety of products and services. Without intellectual property protection, it would be much more difficult for consumers to find new and innovative products and services, and prices would likely be higher for this kind of material.

On the other hand, the law also recognizes a right of the public to be able to leverage and enjoy intellectual property.

For this reason most intellectual property rights have a limited timeframe with an eventual expiration, at which point the intellectual property enters the “public domain,” meaning the public can use the property in any way it wishes without fear of legal repercussions. An example of intellectual property that just recently entered the public domain is the fictional children's storybook character Winnie the Pooh.