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Define Property (traditional vs. modern understanding).
Originally: Understood as objects that can be owned.
Now: Refers to the relationship between individuals in reference to tangible objects (Owner X controls Property Y relative to persons A, B, C, etc.).
Define Intellectual Property (IP)
Consists of intangible objects (manifestations/expressions of ideas, inventions, creative works) that are non-exclusionary by nature because they are easily reproduced without natural limitations on copies.
Distinguish between Exclusionary and Non-Exclusionary goods in relation to scarcity and competition.
Exclusionary Goods: Can prevent others from using them; rivalrous in consumption (e.g., a physical apple).
Non-Exclusionary Goods: Cannot easily prevent others from using them; non-rivalrous in consumption (e.g., a radio broadcast, or an idea). IP is inherently non-exclusionary before legal protection.
How does property typically relate to abstract information/ideas vs. fixed physical expression, and what's the "conceptual muddle" for software?
Property is usually defined as a fixed physical object or its tangible expression. Abstract information or an idea itself is generally not property. The "conceptual muddle" for software is defining its "fixed expression" (source code, executable code, magnetic bits?), which complicates applying traditional property concepts.