Intellectual property (IP) rights are a source of hidden wealth worth trillions of dollars, and they impose hidden costs on the same scale. The rules of intellectual property range from confusing to nearly incomprehen- sible, and the professional practitioners who manage these rights sometimes seem to belong to a secret society. The IP system also determines when and how an innovation becomes available for others to use by defin- ing boundaries around what is accessible and what is not. Intellectual property rights help determine which innovations are widely available and which are closed off, separating innovation haves from have-nots. Ever-stronger intellectual property protection is.
