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Running Head: INTELLECTUAL PROPERTYEthics and Intellectual PropertyKelly MoriartyMGT 320 - 3 The Legal and Ethical Environment of BusinessColorado State University - Global CampusProfessor Marie Halvorsen-GanepolaApril 15, 20171
Ethics and Intellectual PropertyEthics and Intellectual PropertyThe subject of Intellectual Property in the United States has become increasingly more important since the turn of the 21stcentury. With more creative and advanced innovations being developed every single day, people and businesses seek to own this type of intellectual property. However, the digital and wireless age has made this innovative property more difficult to own and control. Intellectual PropertyIntellectual Property is a complex, multi-faceted topic that requires acute attention. In general, there are two forms of intellectual property, including industrial property and copyright property. Industrial property includes but is not limited to patents, trademarks, and designs. On the other hand, copyright property includes things such as music, literary, and artistic works. These forms of intellectual property are protected in the Copyright Clause of the Constitution. This clause states that Congress may “promote the Progress of Science and Useful Arts, by securing for limited Times to Authors and Inventor’s the Exclusive Right to their respective Writings and Discoveries” (U.S. Const. art. I, §8). The Importance of Protecting Intellectual PropertyIt is important to protect intellectual property and the innovators and artists of this time because it encourages and promotes continued innovation. If a company can simply use another’s innovation at free of charge, without paying a licensing fee, they are less likely to create their own methods or inventions. Additionally, artists would be less inclined to create theirown art if any person or company could come along and use it for their own gain. If a creator’s intellectual property, weather it is industrial or copyright, is used for a purpose that does not alignwith their values, they will no longer want to create original work to avoid aiding or helping 2