Technology and Economy Properties of Technology Companies - Term Paper Example

The Economy when examined in a national level it is more closely connected with the state’s developments in all the scientific areas but mostly with the ones related to the Technology Sector. This assumption can be also supported by the fact that the world’s strongest economies are usually the ones that have a significant technology infrastructure in all areas of public and personal activities. According to recent research, Northern Europe and key East Asian countries are the most competitive economies in the world, retaining their positions in the top 10 of the survey.

For the third consecutive year, Finland has the most competitive economy, followed by the United States, according to a survey of almost 11,000 business leaders in the "Global Competitiveness Report." Rounding out the top 10 in the survey were Sweden, Denmark, Taiwan, Singapore, Iceland, Switzerland, Norway, and Australia.The particular elements of interaction between economy and technology cannot be easily distinguished. In another era, a nation's most valuable assets were its natural resources — coal, say, or amber waves of grain.

But in the information economy of the 21st century, the most priceless resource is often an idea, along with the right to profit from it [5]. From the United States to Europe and Japan, more patents were sought in the past 20 years than in the previous 100, evidence that protecting the rights to an idea is itself growing in importance. For this reason, it has been considered that patents 'are becoming the highest-value assets in any economy. Under these terms, the information, entertainment, and technology industries lose billions of sales to the free exchange of ideas.

Incremental advances are stalled by endless lawsuits over inventions. Drug companies are on the defensive when they refuse to share their original research. And regulatory changes are eliminated under the weight of lobbying forces from both sides.