"Words matter. ... Intellectual Property (IP) policy can be ill-served by some habitually used but ... not descriptively accurate vocabulary. ...
"Here, in my view, are a few too frequently used and usually misleading words [that] misrepresent the IP system and are even less relevant to the economics of innovation and creativity. The use of these words has real-world consequences ...
"Fortunately, there are better word choices available. Here are a few terms I propose should be permanently 'out' and potential replacements that I believe would help to counteract anti-IP narratives....
OUT: Reward (Synonyms: Bonus, Prize)
Even when promised in advance of the result, a reward is generally understood to be a discretionary bonus. This is distinctly different than a “right” that is consistently and reliably available whenever the necessary conditions are met.
IN: Right (Synonyms: Title, Claim)
Defined as, “Something that one may properly claim as due.” Also, “the property interest possessed under law or custom and agreement in an intangible thing….” ...
OUT: Incentive/Incentivise (Synonyms: Induce, Incite)
Provides “a stimulus, a motive, a goad, or a bonus.” Also, “To make someone want to do something… especially by offering prizes or rewards.”
IN: Enable (Synonyms: Facilitate, Empower, Equip)
“A person or thing that makes something possible.” IP rights enable allocation of resources to long-term, resource-intensive, high-risk investments. ...
OUT: Monopoly (Synonyms: Cartel, Syndicate, Oligopoly)
“A single seller in a market or sector with high barriers to entry, such as significant startup costs, whose product has no substitutes.” Does an exclusive ownership right represent a monopoly? More below.
IN: Ownership (Synonyms: Title, Proprietorship)
“The act, state, or right of possessing something.”
IN: Exclusive/Exclusivity (Synonyms: Incompatible, Undivided)
“Unable to exist or be true if something else exists or is true.” “Excluding or having power to exclude others, or something that is limited to possession, control, or use by a single individual or group.” ...
"The habitual – and I believe largely unthinking – use of the words 'reward,' 'incentive,' and 'monopoly' among IP professionals has contributed to fundamental misperceptions of IP rights and the IP system. These contribute to systemic misunderstandings of the economics of innovation and creativity. Dropping these words from our IP vocabulary will make policy discussions more accurate and understandable for policymakers, economists, and the public, and better policy decisions will result...."
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