Trademark and trade dress protection last while practiced. Copyrights extend for a period of years after the original creator's death. Patents last 20 years from the time of filing. Do these distinctions make sense from an economic perspective? Why or why not? 

 

A trademark is a type of intellectual property that offers a legal protection for a design, logo, name and symbol. It helps in the identification and distinction of products of a particular source from others. A trademark consists of a logo, a design or a symbol that is mostly found on the products packaging. A trademark lasts for only the period of time within which it is practiced but has to be renewed after every 10 years of use. A trade dress protection is aimed at protecting consumers from buying a product in the belief that it is another as a result of packaging and appearance being similar to the product they think they are purchasing, Trade dress protection also lasts for the period in which it is practiced and should be renewed every 10 years. A copyright is a type of intellectual property that gives the owner exclusive rights to reproduce a certain creative work. A copyright only lasts within the owner's lifetime. A patent is a type of intellectual property that gives the owner of the patent the right to deny others from making or using an invention for a particular period of time usually 10 years.

Yes, the distinctions do make sense in an economic perspective. This is because the distinctions reflect the perspectives of the owners as being from a place of scarcity and choice.