Did we know that there is actually only one reason that intellectual property law exists?

Did we know that there is actually only one reason that intellectual property law exists?

Student,

Great work this week thanks so much for your efforts in this discussion. Did we know that there is actually only one reason that intellectual property law exists? And that reason is profit. Did we also know that if a product or service does not reach the level of patent that in fact it is still considered innovation and people still can make a great deal of money from it? So there are those that argue that patent is not even necessary anymore, and there are those who argue still further that it is completely evil. Also as we cannot create a cell or organism or plant as we can only manipulate or change or mutate them they are not an invention and therefore do not meet the test of patent. At one point we ethics professors used to make up a scenario where a person invented a cure for cancer, and decided to charge $1 million per dose. Meaning that for the next 20 years if you didn’t have $1 million to give you would die from cancer. Obviously this is the epitome of evil to make exclusive profits knowing that other people are going to die simply because we want exclusive and excessive profits. But sadly we ethics professors no longer need a hypothetical because we have the story of the EpiPen. Patent provides an exclusive monopoly to one person or company for 20 years so that that company or person can make excessive profits. We saw the evils of patent recently when the owners of the EpiPen raise the price of the Epipen and another drug by 5000% overnight. They knew that they were going to literally make the price so high that some people could not afford it and they would literally die because of this. But it was perfectly legal for them to do this. The owner of the EpiPen company is now in jail because he lied to a bunch of wealthy people about a new investment`. And whereas I do believe he should be in jail for lying to rich people, I ask myself what kind of society we live in that he can raise the price of the EpiPen knowing that people are going to die and this is perfectly legal?

Thoughts?

Subject: Business

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