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Ars longa, vita brevis: The death of the creator and the impact on exhibitions and auction markets
Economic Research Working Paper No.76
This paper studies the death effect on artists' exhibitions and commercial success in the secondary art market. Based on a random sample of 1'000 popular artists born after the turn of the 20th century, we construct a novel panel data set of their worldwide exhibition history and auction transactions. By applying a regression discontinuity and event study design, we find an overall negative effect of artist death on the number of exhibitions. However, this post mortem effect disappears in longer term. Roughly ten years after death, exhibitions are back to pre-death levels. Arguably, transaction cost and higher auction prices after death also temporarily increase the average cost of exhibiting artworks, e.g. higher market valuation raises (unobserved) insurance cost for exhibitions. Hedonic auction price models confirm this intuition and suggest a significant price premium posthumously. We find substantial heterogeneity in the treatment depending on the age and reputation of the artist at death. Overall findings explain important mechanisms for the post mortem value of artistic work and have important policy implications for the creative sectors and the design of legacy stewardship rules, including a possible justification for rights granted post mortem such as copyright.
Publication year: 2023
Digitization and Availability of Artworks in Online Museum Collections
Economic Research Working Paper No.75
We provide quantitative evidence from museum collections about how copyright status affects the availability of digital images of artworks. The paper applies a regression discontinuity and differences-in-differences design to estimate online availability of artworks from U.S. collections on digital platforms. We find a strong increase in the availability of digital surrogates when copyright is perceived to expire and original artworks are likely to transition to the public domain. Moreover, artworks and surrogates made available see a large number of downstream reuses based on google image search data, which indicates online availability is of commercial and public value independent of right status. Notably, we show that upstream surrogates of public domain artworks made available by museums are positively correlated with higher image resolution quality as compared to digitized artworks still protected under copyright laws. At the same time, it seems expressed industry norms can help encourage U.S. museums to also make low-resolution surrogates of copyrighted artworks available.
How to Make a Living from Music
Creative industries - third edition
Building a successful career in music includes managing intellectual property (IP) rights. WIPO supports authors and performers in enhancing their knowledge of the intellectual property aspects involved in their professional work. Copyright and related rights can help musical authors and performers generate additional income from their talent.
Publication year: 2024
Creative Expression: An Introduction to Copyright and Related Rights for Small and Medium-sized Enterprises
Creative Expression in the "Intellectual Property for Business” series of guides provides an introduction to copyright and related rights for business managers and entrepreneurs, explaining in simple language those aspects of copyright law and practice that affect the business strategies of enterprises. This revised and updated version has added content on some of the pressing issues of the day arising from the digital revolution; on levy systems, cloud storage, etc., as well as updated information on the new WIPO treaties such as the rights of performers in audiovisual performances in the Beijing Treaty on Audiovisual Performances and access to the visually impaired under the Marrakesh treaty.
The Global Publishing Industry in 2022
This report provides a global overview of the publishing industry in 2022, covering both trade and education. Data is compiled by WIPO in collaboration with Centro Regional para el Fomento del Libro en América Latina y el Caribe (CERLALC), the Federation of European Publishers (FEP), the International ISBN Agency, the International Publishers Association (IPA), and the Nielsen Company. The survey focuses on published materials with an ISBN or DOI. It aims to make industry data accessible and highlight challenges in reporting consistent data.
Collective Management of Text and Image-Based Works
Collective Management of Text and Image-Based Works offers a general description of collective management of copyright in the text and image sector. It provides insight into the legislative framework and national operational systems in different parts of the world.
IP assets and film finance - a primer on standard practices in the U.S.
Economic Research Working Paper No. 74
This research summarizes the basic economics of film finance and standard practices in the U.S. movie industry. It shows how risk and uncertainty around new film finance are managed by the private sector and what market-based solutions have been developed to mitigate risk in the sector. Based on a series of expert interviews and exploratory data analysis, the research presents the most common types of financial deals on the ground and reoccurring funding practices for new film production and distribution in the past twenty years, including a discussion of most recent trends and digital changes in the sector. In particular, the research highlights the prominent role of intellectual property (IP) in financial transactions of the movie industry and it discusses policy options in the U.S. and beyond to better leverage IP assets for financing purposes.
Alternative Dispute Resolution Mechanisms for Business-to-Business Digital Copyright and Content-Related Disputes - Executive Summary
A report on the results of the WIPO-MCST Survey
This executive summary reveals the key findings from the WIPO-MCST survey on alternative dispute resolution (ADR) mechanisms to resolve business-to-business (B2B) disputes related to digital copyright and digital content
Publication year: 2021
Alternative Dispute Resolution Mechanisms for Business-to-Business Digital Copyright and Content-Related Disputes
This timely publication analyses the results of a survey carried out by WIPO, with the financial support of the Ministry of Culture, Sports and Tourism of the Republic of Korea (MCST), on the current use of alternative dispute resolution (ADR) mechanisms to handle business-to-business disputes related to digital copyright and digital content. Drawing on more than 1,000 responses from a wide range of stakeholders in 129 countries, the report is a unique source of information on which to base the development of tailored ADR mechanisms.
What is Intellectual Property?
Intellectual property (IP) refers to creations of the mind – everything from works of art to inventions, computer programs to trademarks and other commercial signs. This booklet introduces the main types of IP and explains how the law protects them. It also introduces the work of WIPO, the global forum for IP services, policy, information and cooperation.
Publication year: 2020