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- What Is Patents and Intellectual Property?A patent effectively allows a firm to operate as a monopoly while the patent is in effect. Some people argue that the market power created by patents harms consumers and shouldn't be granted. Others argue that patents are needed to encourage research and innovation. You can read the article from Forbes to learn more about the history and policy surrounding patents. Classify the arguments below as either arguments for patents or arguments against patents. Arguments For Patents Arguments Against Patents Answer Bank prevents free-riding encourages higher prices for consumers prevents competition in the market research results in a positive externality for society leads to an ineffient level of productionWhat are some arguments on the cons of Patent and copyright protections should be less strictly enforced? Please provide at least 3 paragraphs with diffent arguments
- Under which circumstances is patent protection most necessary? Where information about technological improvements disseminates slowly Where information about technological improvements disseminates rapidly In a market with few sellers Where the cost of research and development is very lowWhat are the three conditions on which patents may be granted if?How can patents speed up the process of creative destruction? How can patents slow down the process of creative destruction? How do differences in manufacturing costs affect which industries would be most likely to be affected by the removal of patents?
- Can patents set innovation back rather than induce it?If Congress reduced the period of patent protection from 20 years to 10 years, what would likely happen to the amount of private research and development?V11 Read the article Internationally Acclaimed Quilter Claims Fraud in Lawsuit Seeking Share of Quilts’ Profits. According to the article, “[t]he lawsuit says any agreement between the quilters and the defendants was oral and was not put into writing.” After studying the statute of frauds in this unit, why is the failure to put the agreement into writing problematic? Be specific in your answer, citing any of the statutes of frauds that you think may apply to the lawsuit. "New Answer
- Use diagrams to explain what happens when the patent of a product expires, and the firm operates facing new competition from other producers entering the market and offering differentiated varieties of the same product. Explain how the market looks like (i) before the patent expires, (ii) in the short run after the patent expires and (iii) in the long run after the patent expires. Comment on the change in profits for the firm. Please offer examples of real-life markets where this is the caseAre products with patents a monopoly?Would it be expensive for another company to replicate?Which of the following types of intellectual property is valid for up to 20 years and can not be renewed? Patent Copyright Trademark both copyright and patent