Do patents, trademarks and designs foster happiness in developed countries? An empirical analysis. (1st January 2014)

• Record Type: Journal Article
• Authors: Derclaye, Estelle
• Is Part Of: International journal of happiness and development. Volume 1:Number 4(2014)
• Page Start: 357
• Page End: 368
• Publication Date: 2014-01-01
• Subjects: intellectual property -- happiness -- life satisfaction -- well-being -- patents -- trademarks -- designs -- copyright -- developed nations -- utilitarianism; Happiness -- Economic aspects -- Periodicals; Happiness -- Periodicals; Well-being -- Periodicals; Quality of life -- Periodicals; 302.5
• Languages: English
• ISSNs: 2049-2790

Abstract

Intellectual property rights are exclusive rights the law gives to authors and inventors to stimulate creativity and innovation. Intellectual property laws' justification assumes that the more creations and inventions there are, the better off the population is. Therefore, the law promotes innovation and creativity without limits. This paper challenges this assumption by analysing empirically data on patents, trademarks and designs and on life satisfaction. It finds that there is no correlation between trademarks and designs and life satisfaction but a strong correlation between patents and life satisfaction. However, passed a certain point, it is unclear whether more patents make people happier.