The Patency Law - Essay Example

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The paper "The Patency Law" highlights that the patency law helps in the protection of the original work of an individual against production or reproduction by another party. This law majorly applies in artistical, and literary works like songs, work of literature or an innovation…
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The Patency Law
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According to the ethical practice of the pharmaceutical industry, patency is needed for a business to operate in a locality. Drawing from the case of Cureme Company that intends to extend its pharmaceutical trade to the black sea region in addition to Marmara, the business must understand that the law protects and recognizes the existence of patency of the businesses trading in the same line in black sea region. Thus venturing into the region without following proper legal channels would jeopardize the functionality of the business. To enter a new market, the company must leave room for competition and must not subdue other smaller companies in the region for encouraging technological development, thus conforms to the law (Geneva, 2008).
Price fixation in a market prohibits competition and leads to the development of a monopoly market structure. Inferring to the case of Ilovemoneyalot Telecommunications Company, the action by the CEO of the company to influence fixation of the prices of smartphones through a decrease of prices by 35% would disadvantage other smaller companies who are not part of the agreement to decrease the price. The decrease in prices of the smartphones by 35% would result in concerted practice towards other smaller players with a total share of 20% of the overall market share. In the reduction of the prices, Ilovemoneyalot Company should involve all the players in the market in the decision-making to avoid disadvantaging other market players. Read More
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