The Knockoff Economy explores the validity of the belief that innovation and growth only happen when there are strong protections against copying or duplication. The authors, both lawyers, make a compelling argument that IP protections like copyright, patents, etc. do not themselves create an environment of innovation.
Creating ‘monopoly’ rights is not a requirement for vibrant innovation, growth and creativity. Rather than argue against IP protection, the authors provide examples of industries with low IP protections and a degree of copying that still have high levels of growth and innovation. In showing the positive case, the authors provide a compelling and thoughtful view on the connection between protection and innovation.
To read the original article: The Knockoff Economy: how imitation spurs innovation — A Book Review
