There are various theories of intellectual property rights as to who should be given the right over their intellectual property and on what basis right of intellectual property is given. These theories have mainly propounded by various scholars and they became the basis and core of the intellectual property rights. They are as follows:
- Utilitarian theory
This theory was supported by Bentham and Mill. They believed in the utility and greater good of public. They claim that the intellectual property must be given on the basis of their utility and how they effect the public at large. They meant that these rights are to be given only earn the invention is helpful for the society and makes an impact on the social welfare. When there is any invention or creation it affects the general public. While giving intellectual property rights to someone it should be noted that whether the invention or creation is able to minimize the suffering of general public or not.
As the society is ultimately benefited with a new invention or idea, the person who created it should be rewarded for it. This will make him produce more.
According to Bentham utilitarianism means to maximize pleasure and minimize pain if any invention that id minimizes pain of larger people, they must be given the intellectual property rights over that property.
- Personality theory or personhood theory
Immanual Kant and Hegel was the main propounded of this theory. According to them the invention or creation of someone always depicts their personality in it and hence the personality of someone should be protected as an intellectual property rights. There should not only be financial protection but the personality should also be protected. An individual’s personality is protected through these rights and hence one cannot use them without their consent if they have the rights over their creation. A creation always shows the personality of the creator and hence the intellectual property rights must be given on the basis of the idea or his personality which he has over that property.
- Labor theory
This theory states that the right should be awarded to whom who has out their hard work and labor in the invention and creation. They proponents of this theory beloved that the one who has put their effort and labor have a natural right over their work.
This theory was propounded by John Locke. According to this theory a person must have used his resources and must have invested a lot of time and efforts in the creation and invention and hence the property right arises as a natural right and hence this also applies to the intellectual property rights.
- Social planning theory
This theory is almost on the line with the utilitarian theory. This theory states that in order to promote a rich cultural and healthy competition in the society property must be protected. Unlike utilitarian theory this theory does not focus on the economic welfare as such but focuses on the cultural aspects of the society. The supporters of this theory believed that in order to achieve a better society the property rights must be protected and regulated in a very effective way.
- The ethic and reward theory:
According to this theory the individual who has worked on a creation and applies his mind which is of general public use and benefits the society must be giving reward from it. As the general public can use it but this theory states that the utilization must be ethical and fair and a reward and compensation should be granted to the person who has given the intellectual property rights. Since intellectual property rights cannot be kept in abeyance it should be made useful for the public but this theory focuses on giving the exclusive right to the creator of this novel invention.
