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Running head: INTELLECTUAL PROPERTY
Discussion Board Forum 2: Intellectual Property
School of Business, Liberty University
Author Note
Catherine Hayek
I have no known conflict of interest to disclose.
Correspondence concerning this paper should be addressed to Catherine Hayek
Email: cehayek@liberty.edu
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Intellectual Property
The idea of property has evolved and developed over time. In the early Greek times, the
property was about using something without intent to exclude (Slezinger, 2006). The idea of
property today has become known as a tangible object or asset, including land (Ramaekers,
2017). Scholars have added that property is an assortment of rights, obligations, and duties that
one has in relation to things. Scholars have also agreed on the notion that property today has
become a possession, and a way to exclude others (Slezinger, 2006).
For a business to operate successfully, they need to rely on various types and forms of
property. An essential aspect of business relies on an intangible object or objects, referred to as
intellectual property. Intellectual property is an intangible value that can include things like
copyrights, trademarks, design, inventions, patents, and ideas (Slezinger, 2006). Lawmakers and
scholars have defined intellectual property as the formation of ideas, thoughts, and innovative
actions derived from a person’s mind. Intellectual property stems from the “mental creativity” (p.
163) of one’s mind versus one’s physical action (Kubasek, Browne, Barkacs, Herron, Dhooge,
(2nd ed) & Kippenhan, 2020).
Creator versus Consumer as it Relates to Management of Intellectual Property
Intellectual property is the foundation of many business operations. As stated above,
Intellectual Property today is a way to exclude others from the ability to take ownership or
possession of an intellectual and creative idea. Innovators of the intelligent design have turned to
lawmakers for protection. This protection comes in a way by registering the concept and property
with government officials to exclude others from making copies without special permission.
Intellectual Property serves a higher purpose to many people and businesses. They have
even saved the lives of many consumers. The lives of many, as well as companies, have become
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dependent upon intellectual products for survival. For-profit organizations should maintain
responsibility by working towards the continued benefit of the consumer more than themselves.
Finding a balance between consumer needs and the protection of the business organization is not
an easy task. There are many factors to consider economics, social obligations, market
violability, as well as costs. Organizations should continue to ask themselves how much is too
much when we lean into the consumer versus creating sustainability. Organizations should
formulate a balance in their drive for sustainability and maintain a marketplace that so many
have come to rely upon.
The need to balance protecting the interest of business, providing for the consumer, and
still create sustainability is all in the structure and development of the organization. A business is
defined as a commercial or mercantile activity engaged in as a means of livelihood (Merriam-
Webster, n.d.). Companies need to make money in some format to continue to support the
consumer's needs. Too much balance towards the consumer can be the demise of business in the
long run. Consumers look to for-profit companies over a non-profit organization as there is a
sense of the perceived value of competence (Lee, 2017). Consumers want to know that the
business they support is also supporting the society as a whole. Corporate social responsibility
shows the consumer that the company has chosen to support environmental, social, and
economic impacts on ethical policies and procedures. Corporate social responsibility is also a
balance between environment, economics, and community efforts; however, the consumer is
savvy and looks to the business to provide resources for an extended period by not overuse or
greed. Authors Lee, Bolton, and Winterich (2017) have reported that innovators also can decide
whether or not they want to pursue a social mission. Many social ventures tend to seek out for-
profit industries as they can address social issues and still maintain a profit (Lee et al., 2017).
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Several industries rely on the legal system and policies created to protect intellectual
property rights. Technology and creative industries are essential to the economy and social
welfare of society that depend upon government policies for protection (Lee, 2019). Over the last
several decades, the idea of intellectual property has moved from being just a category of law to
a legal concept in the category of law (Bently, 2012). The purpose of intellectual property law is
to protect the consumer and innovator alike. Intellectual property laws can are essential to protect
creative innovations. When an organization has the protection to provide for the consumer
without mass competition, they can protect and promote social and community well-being. Also,
legal protection can allow the innovator to be creative with their minds and continue to be able to
support the community with new products and designs. Innovators should have the right to own
their ideas and creations.
The businessperson and innovator need to remember to create a balance between
managing profits and taking care of the stakeholders. Businesses need to evaluate their financial
success and the opportunity God has provided. Deuteronomy 8:18 (English Standard Version,
2011) reminds the businessperson to "remember the Lord your God, for it is he who gives you
the power to get wealth." Businesses need to take into consideration the balance of monetary
profits with the needs of the stakeholders.
We have all are created in the image and likeness of God. When He gave us life, God also
gave each of us a unique gift, and with this gift, we have been empowered to find it, use it, and
share it with the world. Our intelligence is something many people may argue is learned; except,
God is the one that has given us our knowledge and our ability to be creative with our minds.
Many inventors, scholars, design artist, authors, and creators have used their gifts to create
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innovative ideas that have served people and businesses very well. Many lives have thrived and
depended upon these innovations for survival.
Another important focus comes from Mark 8:36 (English Standard Version, 2011) “For
what does it profit a man to gain the whole world and forfeit his soul?” (Mark 8:36, ESV, 2011).
How much is a businessperson willing to lose to gain profit, especially at the expense of another.
A balance between consumer and profit, community and sustainability, and what is best
for society comes to values and ethics. Organizations can provide a vehicle to drive innovation
and continue to support the consumer through shared values and ethical practices.
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References
Bently, L. (2012). What is “intellectual property”? Cambridge Law Journal, 71(3), 501–505.
https://doi.org/10.1017/S0008197312000797
Merriam-Webster, (n.d.). Business. In Merriam-Webster.com dictionary. Retrieved 06/11/2020,
from https://www.merriam-webster.com/dictionary/business
English Standard Version Bible. (2011). English Standard Version Bible.
https://www.biblegateway.com.
Kubasek, N. K., Browne, M. N., Barkacs, L., Herron, D., & Dhooge, L. (2020). Biblical
worldview edition of dynamic business law (2nd ed.). N. J. Kippenhan (Ed.). New York,
NY: McGraw Hill Education.
Lee, P. (2019). Reconceptualizing the role of intellectual property rights in shaping industry
structure. Vanderbilt Law Review, 72(4), 1197–1283.
Lee, S., Bolton, L. E., & Winterich, K. P. (2017). To profit or not to profit? The role of greed
perceptions in consumer support for social ventures. Journal of Consumer
Research, 44(4), 853-876.
Ramaekers, E. (2017). What is property law? Oxford Journal of Legal Studies, 37(3), 588–617.
https://doi.org/10.1093/ojls/gqw032.
Slezinger, L. (2010). What makes trademarks “intellectual” property? Journal of Contemporary
Legal Issues, 19(1), 7–13.
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