Value of a Right

Understand how to establish the value of a right to the society that intends to create it. This includes knowing how to establish what the right will achieve and what effects it will have when it is granted.

Knowledge Node Summary

It will be necessary to establish the claims that are made for a right in order to establish whether the right is likely to satisfy those claims. Initially, the value of the claims should be established. It will then be necessary to estimate the perceived effects that the right will have on society and attempt to assess whether these effects themselves are collectively of value to the society. It will then be necessary to estimate the cost to the society of having the right and then weight the costs against the benefits in order to estimate value.

A summary of expert opinion:

The knowledge named 'Value of a Right' is considered to be fairly important.
In addition, the knowledge is thought to be quite difficult to replace, it is mostly learned by study, and is known fully by 10% of the Group.