The salable and conferrable nature of intellectual property allows for the efficient and just distribution of ideas  Intellectual property rights are extremely important in the efficient and equitable allocation of ideas to firms and individuals1. The ability to sell intellectual property rights allows the price mechanism to assign ownership to the firms most likely to make a profit, and that are thus most likely to produce the product most efficiently, which will benefit all consumers. Furthermore, the ability to confer intellectual property rights on others is important, as often intellectual property, like licensing and patents, can support inventors' and artists' families after they are incapacitated or die. This is no different from the fact that ownership of physical property can be conferred for the betterment of dependents and family. It is only just that intellectual property be recognized and protected by law, so that it may be efficiently and fairly sold and transferred between parties.