Economy Law and Economic Analysis of Law and the Impact on Intellectual Property in the Common Law System

Abstract

This article analyses the concept of economics applied to law in order to understand the school's analysis of legal phenomena by economic principles that emerged in 1960 in the United States of America, tracing the impacts on intellectual property law in the Common Law system. This study relies on the hypothetical-deductive method, with a focus on economic and legal literature, to conclude that intellectual property legislation is frequently modernized, especially at the time of major socio economic transformations such as an industrial revolution with the effect of boosting development and innovation, ensuring economic growth with the proper security and protection of industrial secrets and expertise