The framers of the Constitution recognized the value of intellectual property by including the Copyright Clause into Article I, Section 8. As IP law evolved, laws that govern trade secrets, patents, trademarks, and copyright have emerged. These legal protections provide a foundation for businesses, entrepreneurs, and artists to create useful and innovative works. Without the financial incentives provided by IP law, innovation would grind to a halt.
The Constitution states the primary purpose of providing temporary IP monopolies is to advance science and the useful arts. This advance can take place when IP owners create IP, but it can also take place when the IP falls into the public domain at the end of its limited time.