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The most obvious pro to IPR is protecting your product from imitations. Creating new products is a costly business (Time and money-wise) and no firm would invest in R&D if there wasn't something in it for them in the long run.

Another pro is the fact that when somebody comes up with a new product or idea they rush to get it patented. Thus creating a document. In the past people have stayed quite secretive about these things because they did not want to have their idea or product stolen by somebody else.

A quite noticeable con to IPR is that the creator is provided with legal support to holding a monopoly over his product/idea. In the long run this means that firms holding these patents can charge you whatever they want because there is nobody out there who can provide the same service/product.

Another con is that copyright laws usually benefit large firms and not small individuals. Patents are bought by large companies and then extended indefinitely, leaving almost nothing behind for the public domain.

I hope this helps!

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13y ago

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