The Essential Guide to Intellectual Property by Aram Sinnreich

Author:Aram Sinnreich
Language: eng
Format: epub
Publisher: Yale University Press
Published: 2019-06-14T16:00:00+00:00

Figure 11: Top IP-related lobby clients and campaign donors, 2015–16.

As with lobbying, there is strong evidence suggesting that campaign finance achieves strategic policy goals on behalf of contributors and creates measurable profit for donor companies above and beyond what they could otherwise expect in the marketplace. A 2010 study in the Journal of Finance, which analyzed twenty-five years’ worth of Federal Election Commission (FEC) data as well as financial filings from publicly traded companies, found “a strong and robust correlation” between companies that supported a greater number of candidates and “a firm’s future abnormal [greater than expected] returns” as well as “a positive link between the number of supported candidates and the firm’s future earnings.” The authors conclude by arguing that their findings strongly suggest political contributions are motivated primarily by profit rather than patriotism. In their words, “Our results are consistent with the idea that firms participate in the political system not from the standpoint of consuming a patriotic consumption good … but rather from the standpoint of creating positive net present value investments.”10

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