The Role of Intellectual Property in an Innovation Economy - Adam Mossoff, Hayek Lecture Series

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.

Introduction
We live in an amazing world
Intellectual property rights
The basic point
Patents as monopolies
Piracy
Patents
The democratization of invention
Patents are not taxi medallions
Property rights serve two functions
Private ordering
Patents as assets
Patents as collateral
Sewing Machine War
Shark Tank
Goodyear
Division of Labor
Secondary Market
Property Rights
Patent Pools
Macrolevel Evidence
Diamond V
Patents and Wealth of Nations
The History of Lighthouses