This seminar will explore theories of intellectual property, with a particular focus on innovation. It begins by discussing the application of Locke's labor theory and Hegel's personhood rationale to IP. It then turns to the primary theory justifying IP, utilitarianism, and asks whether IP's scope and duration are justified. It examines dangers of IP protection such as diminished speech and cumulative innovation. And it explores innovation-related issues including open source software, peer-to-peer (p2p) systems, the Digital Millenium Copyright Act, potential patent reforms, and the biotechnology industry.