Nobody downloaded yet

Econ - Essay Example

Comments (0) Cite this document
Summary
Introduction There has been a global integration of technology at accelerated pace in the recent times and due to this, a new set of rules has evolved which contain both the intellectual property as well as the competition. Intellectual property rights and laws are enacted primarily to deal with the patents, trade marks as well as copyrights in order to protect the technological innovation made…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96.3% of users find it useful
Econ
Read TextPreview

Extract of sample "Econ"

Download file to see previous pages As such both the anti-trust laws and intellectual property right laws are at odds with each other due to their potential differences. Though both the legal regimes may seem quite non-relative with each other as intellectual property rights deal with the protection of certain rights over any kind of technological or other advances made whereas the anti-trust laws specifically deal with the competition and how market should be regulated. It is however, argued that both are linked in the sense that government attempt to create so called justified value in the market in a bid to unite the market. This paper will discuss the paradox of what intellectual property rights and anti-trust laws prevent and permit respectively and how this paradox can be solved. Intellectual Property Rights and Anti-trust laws Intellectual property rights are given in order to provide exclusive rights for different intangible assets to the owners of these assets. Most commonly Intellectual Property Rights or IPR are granted by giving or registering patents, trademarks, copyrights as well as industrial design rights. It is however; critical to understand IPRs are becoming increasingly more important not just only in the trade related issues at the national and international level but they are also becoming a matter of daily routine. This aspect of the IPRs therefore makes them critically more important to gain increasingly more significance from the social perspective also. It is argued that there is no uniform definition or explanation of the intellectual property rights at the global level however, different agreements and treaties have actually being made in order to iron out the anomalies and bring in harmony at the national level in the intellectual property rights. World Intellectual Property Organization defines intellectual property rights as “creations of the mind: inventions, literary and artistic works, and symbols, names, images and designs used in commerce”. (WIPO). This definition is relatively different from what has been defined by World Trade Organization. Definition by WTO suggests that intellectual property rights give exclusive rights to the creators of mind’s inventions to use them for certain period of time. The above definitions therefore suggest that intellectual property rights and their legal implications are still to be defined in uniform manner. Anti-trust laws however, are related with the concept of competition which is purely and economic concept and refer to a market based mechanism. Under this mechanism, everyone is allowed to enter and trade in the market freely and without any restrictions and should be given equal treatment and fair chance to pursue one’s own economic interests. Competition however, also requires optimal allocation of resources and is considered only valuable when it is able to optimally allocate the resources in the market. What is also important to note that competition inherently requires that there should not be any barriers or unfair use of market power and use of unfair practices which can provide an unfair advantage to someone? Competition therefore advocates a fairly balanced and just market mechanism under which everyone is free to enter and exit the market ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Econ Essay Example | Topics and Well Written Essays - 1500 words”, n.d.)
Retrieved from https://studentshare.org/environmental-studies/1423905-econ
(Econ Essay Example | Topics and Well Written Essays - 1500 Words)
https://studentshare.org/environmental-studies/1423905-econ.
“Econ Essay Example | Topics and Well Written Essays - 1500 Words”, n.d. https://studentshare.org/environmental-studies/1423905-econ.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Econ

Econ

...?Your Full Your Prof IMF: Past and Present In the 1930s, with the world economies facing acute difficulties, most countries tried to counter it by devaluing their currencies in order to boost their exports. However, as this move was followed by most countries, it did little to arrest the sharp drop in world trade accompanied by rising unemployment rates and lowering standards of living in most countries. This breakdown of the international trade and monetary system led to the creation of the IMF with the purpose to stabilize the exchange rates of currencies and to encourage members to increase international trade by making a pool of funds available to member countries experiencing balance of payments difficulties. The IMF... Full Your Prof...
1 Pages(250 words)Essay

Econ

...? “The government’s fiscal policy is its plan for spending and taxation, it is designed to steer aggregate demand in some desired direction” (Baumol and Blinder 600). The fiscal and monetary policy is important because it determines the amount of intervention or lack thereof by the government in stimulating the economy. The ‘invisible hand’ as proposed by the great economist Adam Smith and to whom the classical view is attributed to, suggests that the economy is able to repair itself without a need for a change in policies such as government spending or including tax reductions. Economic problems and such as recession naturally happen subject to correction by the economy itself. Keynes, on the other hand, argued for a more... “The...
1 Pages(250 words)Essay

Econ

...? Discretionary fiscal policy is one of the tools that the government can use in helping the economy recover from recession. In fact, discretionary fiscal policy is so important that some even suggest for it to have an automatic trigger, where it can combat circumstances that can make it ineffective, such as time lag. The purpose of this paper is to explain the advantages and disadvantages of having an automatic trigger for discretionary fiscal policy. Specifically, this paper seeks to look at how fiscal policy will affect the economy when there is an IS or MP shock. Perhaps, one of the benefits of having this new policy is that it can help the economy to maintain the level of output in the presence of an IS or MP shock without... Discretionar...
5 Pages(1250 words)Essay

Econ

... the burger example and assumption of $4 as the equilibrium price, suppliers would be willing to supply 20 burgers at that level. Raise the price to $5 and they would say that they would even want to supply 30 or more because of the profit prospect. If prices decline to $2, then they might only want to sell five or less or even nothing at all because at that level they will not be able to cover their expenses in making and selling their burgers. Works Cited "Reviews of the Laws of Supply and Demand." Curriculum Link Organization. N. d. 03 December 2008 econ/materials/sdlaws.html>... 04 December 2008 Using Economics in Everyday Decision Making At first, economics appears to be useful only in complicated situations in the market. For instance, I have always related...
3 Pages(750 words)Essay

Econ

... Federal Reserve and the Financial Crisis Question Financial panics were a big problem during the gold standard, causing many banks to close down. For example, there was a severe financial panic of 1893, which saw more than 500 banks failing across the country (FRFC, 18). Therefore, the gold standard was associated with financial instability, which in turn caused great frustrations to the banks. Since a gold standard requires that the value of currency be fixed in terms of gold, for example an ounce of gold being worth $20 and 60 cents, then gold had to be sort and brought to the central bank so that it could be valued relative to money. Additionally, with a gold standard, the central bank could not apply monetary policy in order... Federal...
3 Pages(750 words)Assignment

ECON

...PART I Question If France produces cars and camcorders only using specialized resources, which means some resources are more suitable in producing cars while others are more suitable for producing camcorders, then, considering the two graphs based on the initial description of specialized resources, graph 2, which is concave in shape best represents the trade-off France faces between producing cars and carmcorders. The concave shape of Graph 2 therefore, indicates that as France produces more cars and fewer camcorders, the opportunity cost of producing each additional car increases. Question 2 John and Akila illustrated that opportunity is value foregone for producing one product instead of the other (507). Opprotunity Cost... I Question ...
2 Pages(500 words)Essay

Econ

...Homework Figure no Demonstration of the reason why indifference curves cannot cross If we assume that indifference curve can cross, from the figure results that C is preferred to A, and B is indifferent to both A and C. Moreover, C must be indifferent to A, but this can happen if C is preferred to A. As a conclusion, indifference curves cannot cross. 2) a) Figure no. 2 Indifference curves for perfect substitutes The marginal rate of substitution is the slope of the indifference curves and is negative and constant when considering perfect substitutes. b) As mentioned above, the marginal rate of substitution for perfect substitutes is constant and does not satisfy the diminishing marginal rate of substitution property. c) Probably... Figure no ...
3 Pages(750 words)Assignment

Econ

... Lecurer: Money demand a) Nominal money demand Md=(500+0.2Y-1000i)P =(500+0.2*1000-1000*0 100 =60,000 Nominal money demand=60,000 Nominal money demand= P*L(R*Y) Real money demand (L)= Md/(R*Y)P =60,000/[(0.1)*1000*100 =6 Velocity of money =P*Y/Md =100*1000/60,000 =2 Money changes hands at the rate of 2 on average b) When the price level is increased to 200, then Nominal money demand (Md)=(500+0.2*1000-1000*0.1)200 =120,000 Real money demand Real money demand (L)= Md/(R*Y)P =60,000/[(0.1)*1000*200 =3 Velocity of money =P*Y/Md =200*1000/60,000 =4 Money changes hands 4 times on average c) Increases in price levels increases the velocity of money in circulation. Increases in real income increases the velocity of money, while increase...
3 Pages(750 words)Assignment

Econ

... Due Cowen and Tabarrok: The Invisible Hand Cowen and Tabarrok said that,“See the invisible hand, understand your world.” This tagline applies to the modern approach in economics. This tagline meant that economics is a scientific type of misery which is deep, inspiring, fundamental similar to that of the universe which is rapidly expanding or those forces that tend to bind the matter. This statement tries to explain the manner in which order can result from the freedom of choice. This involves the Solow Model, ideas in economics, real exact business cycles and the Keynesian approach in economics.This approach assumes that when businesses fluctuate, then this is a clear interpretation of the fluctuation in the output’s growth rate...
12 Pages(3000 words)Essay

ECON

...Question one From the instruction P= 500 C= 600, I= 5500 and M= 5000. Replacing these variables in the regression equation, QD = - 5200- (42 x 500) +(20 x 600) + (5.2 x 5500) + (0.2 x 10000) + 0.25 x 5000 = 17650 Price elasticity = (P/Q) x (dQ/dP) From the regression equation given, dQ/dP = -42. Therefore, price elasticity Ep = (P/Q) x -42 = (500/ 17650) x (-42) = - 1.19 Same to the other C, I, A, M; EC = 20 x 600/17650 = 0.68 EI = 5.2 x 5500/17650 = 1.62 EA = 0.20 x 10000/17650 = 0.11 EM= 0.25 x 5000/17650 = 0.07 Question two From the calculation above price elasticity is – 1.19. This implies that a percentage increase in the price of the product will result into a reduction in quantity demanded of the good by 1.19%. This further...
4 Pages(1000 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Econ for FREE!

Contact Us