“Life is infinitely stranger than anything which the mind of man could invent.”
—Sherlock Holmes in A Case of Identity
Property rights are essential to any capitalistic society and are recognized by most societies in existence today. When we think of property, we typically think of land, though we may also think of other physical goods that are owned, bought, sold, and traded such as homes, automobiles, jewelry, and household appliances. Intellectual property (IP) refers to property that is abstract rather than physical. Specifically, it refers to anything created by the human mind. This includes music compositions, novels, movies, works of art, inventions, and of course software.
While the concept of physical ...