Intellectual,property,and,econ law Intellectual property and economy
Bankruptcy is a situation, wherein an individual is termed as unable to discharge all the debts. When a person or a company is not able to pay off its creditors, it has an obligation to file a bankruptcy suit. In fact, a bankruptcy suit is a When you work with an attorney, you will have no problem reducing the risks associated with getting your case in front of a judge and jury, or other formal court, when you need to. However, every case is different. It is important to work wi
Normal 0 false false false MicrosoftInternetExplorer4 st1\:*{behavior:url(#ieooui) } /* Style Definitions */ table.MsoNormalTable{mso-style-name:"Table Normal";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-parent:"";mso-padding-alt:0in 5.4pt 0in 5.4pt;mso-para-margin:0in;mso-para-margin-bottom:.0001pt;mso-pagination:widow-orphan;font-size:10.0pt;font-family:"Times New Roman";mso-ansi-language:#0400;mso-fareast-language:#0400;mso-bidi-language:#0400;}Intellectual property (IP) is anumber of separate types of legal controls over innovations of the mind, both creativeand commercial, and the related fields of law. Under intellectual property law,owners are given certain exclusive rights to a variety of insubstantial assets,such as musical, literary, and artistic works; findings and inventions; andwords, phrases, symbols, and designs. Common types of intellectual property comprisecopyrights, trademarks, patents, industrial design rights and trade secrets insome areas.Although many of the legalprinciples governing intellectual property have developed over centuries, itwas not until the 19th century that the term intellectual property began to beused, and not until the late 20th century that it became commonplace in theUnited States.Financial incentiveThese restricted rights allowowners of intellectual property to reap monopoly profits. These monopolyprofits provide a financial incentive for the creation of intellectualproperty, and pay associated research and development costs. Some analysts,such as David Levine and Michele Boldrin, dispute this justification.Economic growthThe legal monopoly granted by IPlaws are credited with important contributions toward economic growth.Economists estimate that two-thirds of the value of large businesses in the U.S. can betraced to insubstantial assets. "IP-intensive industries" areestimated to produce 72 percent more value added per employee than"non-IP-intensive industries". A joint research project of the WIPOand the United Nations University measuring the effect of IP systems on sixAsian countries found "a positive correlation between the strengthening ofthe IP system and subsequent economic growth."However, connection does notnecessarily mean causation: given that the patent holders can freely relocate,the Nash equilibrium predicts they will clearly favor operating in countrieswith strong IP laws. Neutrality disputed in some of the cases, the economicgrowth that comes with stronger IP system neutrality disputed is due toincrease in stock capital from direct foreign investment.EconomicsIntellectual property rights are provisionalstate-enforced monopolies regarding use and expression of ideas and information.Intellectual property rights areusually restricted to non-rival goods, that is, goods which can be used orenjoyed by many people concurrently the use by one person does not exclude useby another. This is compared to rival goods, such as clothing, which may onlybe used by one person at a time. For example, any number of people may make useof a mathematical formula concurrently. Some pretests to the term intellectualproperty are based on the argument that property can only properly be appliedto competitor goods (or that one cannot "own" property of this sort).Since a non-rival good may besimultaneously used (copied, for example) by many people (produced with minimalmarginal cost), controls over distribution and use of works are meant to giveproducers incentive to create further works.
Intellectual,property,and,econ