Intellectual Property-Based Economy in the Knowledge Sharing World: Issues and Challenges

Abstract

The invention of internet and emergence of information and communication technologies led to the paradigm shift from industrial age economy to the information age economy; an avenue that led to economies relying on knowledge and intellectual capitals as their mainstreams for development. This technological emergence has aided knowledge sharing among persons in the knowledge domain, thus enhancing the knowledge-based economy, but posing threat to the intellectual property. This paper aims to discuss the issues and challenges affecting the intellectual property-based economy in the present knowledge sharing world. Literatures and scholarly papers were extensively reviewed to compare and contrast Intellectual property-based economy with Knowledge-based economy, specifically underscore issues and challenges facing the former by the posed threat of Knowledge sharing activities, and subsequently suggest possible solutions based on the findings made.

Keywords: Intellectual property, Knowledge-based economy, intellectual property-based economy, knowledge sharing

JEL Classification: H41, L63, M11