Discuss how labour theory is different from the functional theory in justifying the intellectual property.

Labour theory is also known as positive theory. The underlying principle of the theory is that labour of the individual is the foundation of the property. As per the theory A product is a property of a person who produces it or bring it into existence. Property is the result of individual labour and therefore no person has a moral right to the property which has not been acquired by his personal efforts. The theory is individualistic in approach in relating to property rights. Functional theory is also known as sociological theory of property. According to the theory no one can be allowed to have an unrestricted use of the property to the detriment of others, the use of the property should confirm to the rules of the reason and welfare of the community. The theory takes into concern the society as a whole and therefore maintains a welfare approach towards the creation of the property.