In the Middle Ages up to 90 percent of the wealth of Europe came from the owning of land. As a result, the law of the times developed elaborate definitions of and protections for property rights in land. Today, we live in an economy deriving ever more of its income from technological advances based on research and human ingenuity. Modern capitalism's increasing dependence on intellectual property has allowed for qualitatively higher levels of efficiency, productivity, and quality of life. Accordingly, the Intellectual Property Rights (IPRs) embedded in patents, trademarks, and copyrights have received increasing attention. The rise of global trade has further broadened the discussion of IPRs from a largely domestic to an international stage.
