1. Discuss three economic rationales for having a patent system.
There are three economics rationales for having a patent system, they are market reward, Ex ante rationale, and Ex post rationale. All three play a critical role in driving innovation and technology development. Market rewards provide economic incentive for the invention. Ex ante rationale prevent other from duplicating the innovation. Ex post rationale incentive the efficient use of the patent after the patent has been issued.
By filing a patent with the government, the inventor or the company that filed the patent has the exclusive right of producing that technology or product. Without competition in the market, the patent holder can control the supply in the market which …show more content…
It states that the patent system facilitates the efficient use and commercialize of the technology by allowing other to build on the previous inventions. Patent creates a tangible asset that is transferable and can be licensed. When a company is acquired by another, the patent is also acquired as part of the assets and its value can be negotiated. Another example of the efficient use of the technology is when creating a complex product such as a plane. There are potential hundreds or thousands of patents that are involved. Such as the navigation system, engine system, electronic system. Within each of these systems, there are probably also numerous patents that go into them. Without the patent system, it would be impossible for company like Boeing to license all the required technology and build the plane. “Word Count: …show more content…
Three challenges of environmental problems and what makes these problems difficult for environmental law to address.
Environmental problems are often more complicated and complex then other set of problems cover by the law because it often encompasses large geographic area, with a long temporal span, does not have a clear cause and effects, and it often have many victims. Therefore, it is difficult for the law to pinpoint who is responsible and how the problem should be mitigated. Common law is a system where decision and law can be drawn by cases precede the current case. It allows the judges to follow previous verdicts and apply that to the current situation.
Since it often covers a large geographical area, for example, the dead zone in the Gulf of Mexico is being contributed by all the states and the industries in the Mississippi River’s watershed. There are numerous states and industry that is involved in the process, which makes prosecuting an individual next to
There are three economics rationales for having a patent system, they are market reward, Ex ante rationale, and Ex post rationale. All three play a critical role in driving innovation and technology development. Market rewards provide economic incentive for the invention. Ex ante rationale prevent other from duplicating the innovation. Ex post rationale incentive the efficient use of the patent after the patent has been issued.
By filing a patent with the government, the inventor or the company that filed the patent has the exclusive right of producing that technology or product. Without competition in the market, the patent holder can control the supply in the market which …show more content…
It states that the patent system facilitates the efficient use and commercialize of the technology by allowing other to build on the previous inventions. Patent creates a tangible asset that is transferable and can be licensed. When a company is acquired by another, the patent is also acquired as part of the assets and its value can be negotiated. Another example of the efficient use of the technology is when creating a complex product such as a plane. There are potential hundreds or thousands of patents that are involved. Such as the navigation system, engine system, electronic system. Within each of these systems, there are probably also numerous patents that go into them. Without the patent system, it would be impossible for company like Boeing to license all the required technology and build the plane. “Word Count: …show more content…
Three challenges of environmental problems and what makes these problems difficult for environmental law to address.
Environmental problems are often more complicated and complex then other set of problems cover by the law because it often encompasses large geographic area, with a long temporal span, does not have a clear cause and effects, and it often have many victims. Therefore, it is difficult for the law to pinpoint who is responsible and how the problem should be mitigated. Common law is a system where decision and law can be drawn by cases precede the current case. It allows the judges to follow previous verdicts and apply that to the current situation.
Since it often covers a large geographical area, for example, the dead zone in the Gulf of Mexico is being contributed by all the states and the industries in the Mississippi River’s watershed. There are numerous states and industry that is involved in the process, which makes prosecuting an individual next to