First, the incentive effect on knowledge creation.
The intellectual property system grants the creator or owner of intellectual property the exclusive right within a certain period of time according to law, and protects this exclusive right from infringement, and the infringer will be punished by law. With this exclusiveness, the creator or owner of intellectual property rights can obtain economic benefits and recover investment by transferring or implementing production, thus having the enthusiasm and material conditions for continuing research and development, thus mobilizing the enthusiasm of knowledge innovators.
Second, the intellectual property system has the function of regulating public interests.
Although the intellectual property system protects the interests of knowledge creators, it does not mean monopoly. The intellectual property system has two major functions: one is the protection function, which protects the legitimate rights and interests of knowledge creators, thus mobilizing people's enthusiasm for creative activities; The second is the publicity function, that is, knowledge creators should disclose their creations to the society while applying for intellectual property protection. Protection and publicity are two seemingly contradictory aspects. It is through the regulation of intellectual property system that fairness, justice and rationality are realized by exchanging protection for openness. For example, for technological inventions, because technological inventions are protected by law, there is no need to worry about technological inventions being leaked to the public. The information of these intellectual achievements plays an extremely important role in the re-creation of knowledge.
Third, the intellectual property system has the function of protecting investment.
The intellectual property system ensures that units or individuals who have made significant material and technological investments fully enjoy the legitimate rights and interests arising therefrom by confirming the attributes of the achievements, and protects the competitive advantages of investment enterprises by protecting exclusive rights such as patents, trademarks, service marks, names of manufacturers and names of goods sources and stopping unfair competition, maintaining fair and orderly market competition, correctly regulating people's behaviors by law, and urging people to consciously respect or be forced to respect the intellectual property rights of others. Make the society form a good social environment and a fair and just market competition mechanism that respects knowledge, talents and other people's intellectual labor achievements, and make it have more financial, material and intellectual resources to invest in research and development.
4. It is conducive to promoting international economic and technological exchanges and cooperation.
Knowledge economy is essentially a global economy. Nowadays, the globalization of world economy and science and technology not only creates conditions for the development of knowledge economy, but also highlights the development of knowledge economy. With the development of information network, the speed of knowledge dissemination and diffusion in the world is greatly accelerated, which provides a very good opportunity for countries to obtain knowledge achievements, exchange and cooperation. At the same time, with the increasing proportion of knowledge achievements and products with high knowledge content in world trade, there must be a rule that all countries must abide by. The intellectual property system is the rule in this respect. Although intellectual property law is a domestic law, it is formulated by various countries, but there are many contents in it, such as timeliness, regionality and exclusivity. In order to be in line with international practices, many countries have joined the World Intellectual Property Organization or treaties and adhered to the principles of national treatment and priority. Moreover, the World Trade Organization has formulated the Agreement on Trade-related Intellectual Property Rights from the perspective of developing world trade, and put forward some regulations that countries must abide by in developing world trade. Without such rules and intellectual property system, the introduction, cooperation and exchange of knowledge achievements will be difficult.
To sum up, the function of intellectual property system is to stimulate knowledge creation, regulate public interests, protect investment and promote international economic and technological exchanges and cooperation.