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In such a society, innovation would be stifled.
In the scenario mentioned above, if Google obtained a patent for their new software, they may have market power and that may enable them to charge high prices for the software. However, Google may not charge whatever they want even though market power gives them the ability to set the prices. The seller will set the price in relation to the demand curve because if the price is set too high, a downward-sloping demand curve is imminent, hence a decrease in demand (Richard , 2012).
In conclusion, the existence of a patent prevents others from producing and selling the patented product. It is on these grounds that a patent is considered a monopoly privilege granted by the government. Additionally, the monopoly grant has a prima facie impact on trade, because the monopoly conferred by the patent is the right to exclude others from manufacturing or selling the patented product. On the other hand, copyright is not a right to the exclusive use of a fact, an idea, or a combination, which by the natural law of property all are free to use; but only to the labor expended in the thing itself (Journal of Libertarian Studies,
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The process of globalization links people of all walks through a common media such as schools, internet, and global markets. Currently, globalization is rapidly advancing between the North (developed countries) and the South (developing countries). Agents such as World Bank, International Monetary Fund, World Trade Organization, and other UN-based organizations are the primary accelerators of globalization.
In United States, the term of a new patent is normally 20 years from the date on which the application for the patent is filed. The rights conveyed by a patent vary country-by-country.
To get the patent from the government the invention must be new, having an inventive step, which earlier nobody had knowledge off, entirely a new thing, which can be used or made in some industry.
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The major expenses for our business will be salaries for the software developers. We are aiming to hire 2 programmers, each with an average annual salary for $55,000. Besides the usual rent and operational costs, we shall incur the costs of promoting the software and
The income accounting conventions used in the determination of asset value, profit, savings and investments assume that tangible, material goods constitute wealth. It does not take into consideration that the world
v) Price discrimination- a monopolist is able to change prices and the quantities of products. In very elastic market, he/she charges lower prices hence selling higher quantities. And in less elastic markets he/she charge higher prices thus selling
It encompasses the comprehension of issues of investigating computer crimes, types of evidences and the role of forensics. The paper establishes the aspect of the law that has the most direct connection with the security profession.
Criminal laws have a
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