Merges, Robert P. --- "Philosophical foundations of IP law: the law and economics paradigm" [2019] ELECD 1933; in Depoorter, Ben; Menell, Peter; Schwartz, David (eds), "Research Handbook on the Economics of Intellectual Property Law" (Edward Elgar Publishing, 2019) 72

Book Title: Research Handbook on the Economics of Intellectual Property Law

Editor(s): Depoorter, Ben; Menell, Peter; Schwartz, David

Publisher: Edward Elgar Publishing

Section: Chapter 4

Section Title: Philosophical foundations of IP law: the law and economics paradigm

Author(s): Merges, Robert P.

Number of pages: 26

Abstract/Description:

This chapter describes various philosophical perspectives on the law and economics paradigm in intellectual property (IP). It begins with a description of utilitarianism, which is the philosophical foundation on which law and economics is built. It then describes an alternative way that law and economics can be understood: as a highly effective set of tools that are useful even if one is not convinced that IP law can be justified at the foundational level by a utilitarian account. Various alternatives to foundational utilitarianism are described; the chapter seeks to explain how a law and economics approach to issues in the IP field is consistent with these alternative foundational justifications for IP law.