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by gozur88
3840 days ago
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>patent and copyright restriction is a HUGE rent. Even more so now that we're first-to-file and not first-to-invent. Technically to consider it a rent the copyright holder would not be producing anything, which just isn't true. Well, not for patents on genuine inventions. The same is true for financial services. They do provide a service for the money. |
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Even by the (overly restrictive, IMO, as it excludes economic monopoly rents that are not derived from government-granted monopolies), copyright and patent are sources of rents drawn on the government-issued monopoly right to exclude others from duplicating the covered subject matter (or, in the case of patent, even independently developing it).
Even that restrictive definition upthread does not included the requirement that the rent-seeker was not required to produce something in order to secure the government-granted privilege from which it extracts rents.