Jeffrey Tucker: Is Intellectual Property the Key to Success?

Jeffrey Tucker, July 5, 2007.
One of the greatest tragedies of intellectual property law is how it generates intellectual confusion among successful business people. Many are under the impression, even when it is not true, that they owe their wealth to copyrights, trademarks, and patents, and not necessarily to their business savvy.

For this reason, they defend intellectual property as if it were the very lifeblood of their business operations. They fail to give primary credit where it is due: to their own ingenuity, willingness to take a risk, and their market-based activities generally. This is often an empirically incorrect judgment on their part, and it carries with it the tragedy of crediting the state for the accomplishments that are actually due to their own entrepreneurial activities.

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