Interesting, how many entrepreneurs want IP and how many would be better off without it? I mean, statistically, in my opinion (yeah, I am taking it from thin air) vast majority would be better off without IP (patents etc).
A monopoly isn’t a guarantee of profits.
Technically, all exchange is profitable. How profitable? Do firms with IP charge prices higher by a factor of millions?
IP exists only as monopoly. And even where it exists, it doesn’t guarantee higher profits than copying would. There is a network effect from copying. Hollywood makes more money today than before and so-called piracy is through the roof!
Trying to make the claim about the original innovator is like trying to explain exactly how the money for the glazier in the Broken Window parable would have otherwise been spent. We simply do not know. But I can provide real world examples of how free copies build brands and create demand for higher priced alternatives.
Interesting, how many entrepreneurs want IP and how many would be better off without it? I mean, statistically, in my opinion (yeah, I am taking it from thin air) vast majority would be better off without IP (patents etc).
The nature of property rights means that if they don’t want to create IP-protected goods, they don’t have to use IP protection.