Abstract: According to the traditional theory in law and economics, there are two alternative mechanisms to protect personal entitlements, ie. either by property rule or by liability rule. Based on the analyses of the problems in the application of these two rules in the field of IPRs, this paper at first investigates a new kind of IPRs protection mechanism, ie. collective administration organizations of IPRs, then points out that its efficiency rests on its intermediate quality between the two traditional rules, and finally reveals its implication for public administration in general.

Key words: property rule, liability rule, IPRs, collective administration organizations