AUDIENCE MEMBER 00:08
My question is about the intellectual property because you are a lawyer by training. Given the complicated landscape in this field, is there a better way to share intellectual property across nations, especially in the case of Huawei, is there better legal framework to handle intellectual properties? Thank you.
CHARLIE MUNGER 00:31
Well you know, I don’t know that much about the world of intellectual property. I made my way in insurance, and furniture stores, and little legal newspapers and so on.
So other people are good at intellectual property. I’m good at avoiding subjects which I’m not good at. And one of them is intellectual property. I’m not surprised that the Chinese are stealing a little intellectual property.
We Americans did it all the time. We stole Dicken’s work. We just reprinted his copyrighted stuff. We stole the technology from the English textile manufacturers. It isn’t as though people haven’t been pretty aggressive about wanting to know other people’s ideas. This is an old problem.
I do think that allowing intellectual property to have these profits is desirable. But the exact complexities of how you handle it, I don’t spend much time thinking about.
"So other people are good at intellectual property. I’m good at avoiding subjects which I’m not good at. And one of them is intellectual property." ~Charlie Munger
⭐Be good at knowing subjects which you are not good at.