In December 2019, a bipartisan group of senators introduced a bill which would expand the authority of the United States Customs and Border Protection agency to seize counterfeit goods at the U.S. border that infringe on intellectual property rights. If passed, this legislation would prevent the importation of counterfeit products into the United States. The estimated global trade value of counterfeit products in 2019 was over $1 trillion. Source: Paul D. Ackerman, Gary A. Abelev, and Aimee N. Soucie, "Proposed Counterfeit Goods Seizure Act of 2019 Would Provide Design Patent Protection at the US Border," huntonretailindustryblog.com, December 18, 2019. If the Counterfeit Goods Seizure Act of 2019 does not become law, intellectual property rights do not receive the added protection from this act, and counterfeit goods continue to come across the border, which of the following would most likely occur in the United States? OA. More dollars would be spent on the development of new technology. OB. U.S. companies would increase domestic investment in the development of more innovative products. OC. Fewer patents would be issued to innovators and inventors. OD. Innovating companies would likely expand their U.S-based research and development departments.
In December 2019, a bipartisan group of senators introduced a bill which would expand the authority of the United States Customs and Border Protection agency to seize counterfeit goods at the U.S. border that infringe on intellectual property rights. If passed, this legislation would prevent the importation of counterfeit products into the United States. The estimated global trade value of counterfeit products in 2019 was over $1 trillion. Source: Paul D. Ackerman, Gary A. Abelev, and Aimee N. Soucie, "Proposed Counterfeit Goods Seizure Act of 2019 Would Provide Design Patent Protection at the US Border," huntonretailindustryblog.com, December 18, 2019. If the Counterfeit Goods Seizure Act of 2019 does not become law, intellectual property rights do not receive the added protection from this act, and counterfeit goods continue to come across the border, which of the following would most likely occur in the United States? OA. More dollars would be spent on the development of new technology. OB. U.S. companies would increase domestic investment in the development of more innovative products. OC. Fewer patents would be issued to innovators and inventors. OD. Innovating companies would likely expand their U.S-based research and development departments.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:In December 2019, a bipartisan group of senators introduced a bill which would expand the authority of the United States Customs and Border Protection agency to seize counterfeit goods at the U.S. border that
infringe on intellectual property rights. If passed, this legislation would prevent the importation of counterfeit products into the United States. The estimated global trade value of counterfeit products in 2019 was
over $1 trillion.
Source: Paul D. Ackerman, Gary A. Abelev, and Aimee N. Soucie, "Proposed Counterfeit Goods Seizure Act of 2019 Would Provide Design Patent Protection at the US Border," huntonretailindustryblog.com,
December 18, 2019.
If the Counterfeit Goods Seizure Act of 2019 does not become law, intellectual property rights do not receive the added protection from this act, and counterfeit goods continue to come across the border, which of the
following would most likely occur in the United States?
OA. More dollars would be spent on the development of new technology.
OB. U.S. companies would increase domestic investment in the development of more innovative products.
OC. Fewer patents would be issued to innovators and inventors.
OD. Innovating companies would likely expand their U.S-based research and development departments.
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