Copyright •Copyright works: literary, musical, dramatic, artistic works, and computer programs •Provide a bundle of exclusive rights to owners for preventing unauthorized – reproduction – public performances – broadcasting – communicating to the public – adaptation of the works.
Economic Viewpoint •Public goods –the system must protect the work of authors and provide the proper incentive for their creations. –The society as a whole can gain access to the work broadly •Cumulative creation –build on the earlier creations. The system should balance the incentive of early creations against the essential to provide incentives to later creations. •Transaction cost –Because of high transaction cost of the copyright dependent industries. The system should facilitate transactions among numerous copyright owners and among authors, publishers and recording companies. Because they are working together to bring the copyrighted works to the market, the system should clearly define the rights and the ways to exercise them.
Copyright in Literary works •Literary works: interests of authors and publishers Digital Technology
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