In the absence of substitutes, the producer of such a product will wield substantial market power. Such exercise of market power can lead to allocative inefficiencies. Tension can arise between IPRs and competition law because IPRs create market power, even monopolies, depending upon the extent of availability of substitute products. IPRs tend to restrict competition, while competition law engenders
Whether or not a secret trust is justified is based on theories rather than actual probate law. It contradicts the provisions of the Wills Act 1837 by not complying with s.9 of it. The long held issue find its roots in principles taken from the Statute of Fraud. It is by some believed that the arrangement of a secret trust is outside the terms of the will and therefor equity plays a role in assuring that a testator that pursues using a secreter trust has the ability to benefit a third party even if it does not align with the s.9 in the Wills Act. It also makes sure that there is a way for a will to be beneficial for a third party that is not mentioned on the face of the Will.
I am uncertain if one can assess the work of a PR or Marketing specialist as unethical, because they are not telling the truth (lying) to potential buyers – Companies do not necessarily recreate the truth. However, they sure do manipulate people’s buying decisions by persuading them of a/the truth through the use of strategic communication. Therefore, I believe that professional communicators cannot act ethically right in consideration of the universal approach to ethics. Even if professional communicators do not always recreate the truth, they are still manipulating potential buyers through persuasive language (strategic communication), just like the
3. Trading of the costs 3.1. Efficiency When figuring out the most effective legal rules, the outcome should produce the best incentives and consequences when people alter their behavior in reaction to those incentives. The ultimate goal of trade secret laws should be optimizing the incentives for both, the party possessing the secret and the competitor, for them to behave efficiently. The key is not necessarily to maximize the protection of the trade secret, but to find the optimal degree of security, while the competitor is less likely to participate in inefficient and detrimental activities, such as bribery and espionage, in attempting to appropriate the secret.
This paper will inform the reader about one particular aspect of these limitations: forming cartels. A cartel is an illegal cooperation between different companies, which is profitable for these particular companies and only for these companies. Though, why is teamwork suddenly illegal and what is done against it? Firstly, this paper will give some more information about why cartels are not allowed. Secondly, it will inform the reader about what the government does to punish the companies involved.
Input uncertainties can result from the fluctuations in consumers’ demands which will shift the market supply for producers. From an international perspective, input uncertainty is interrelated to the general environment uncertainties (Millers, 1992). The uncertainty of consumption patterns and demands of the output produced by the firms are known as product market uncertainty. The unpredictability in the change in trade policies in domestic and international markets result in a direct impact on product market uncertainty.
Research has found that that over the years capitalism has passed through many phrases which forced capitalists to amend their rules under which they reside. Many developed countries that employ capitalism tend to rely more on tort laws such as strict product liability theory to secure the greatest amount of consumer protection. The reason for having strict liability is because strict product liability can raises standards where the health and safety of the public is at stake and forces manufacturers in a position of responsibility to take extra precautions. Strict product liability theory helps to induce business firms and manufacturers to guarantee product safety as they know they are held liable for injuries caused by their products, which they cannot avoid. Without strict product liability, the reality of the capitalist market tend to be caveat emptor which means “Let the Buyer Beware!”
Further, compulsory timely disclosure of inside information could be an alternative enforcement since inside information is only valuable before being made public (Zhang, 2014). In conclusion, various recommendations have been mentioned, which require financial institutions and government to cooperate and establish more sophisticated detection and prevention system. Although this might be resource-consuming, considering the significant harm brought by insider trading, it is more reasonable to focus on cost-effectiveness. Furthermore, in-depth research would be carried out in terms of insider’s ethical standards, the origin of insider trading. (Word count:
If operations becomes more efficient marketing teams may be able to set lower prices on products as a new break-even point will be applicable. Similarly, marketing decisions affect operation’s management as they determine the goals of products. Marketing may decide to apply a price skimming marketing strategy where prices are set relatively high in comparison to competitor’s products. Price skimming is implemented to give consumers the impression of high quality or social status. In this case operations are able to focus on quality and a higher amount of inputs that lead to quality such as
Moreover it offers the feasibility to implement a benchmarking procedure between the suppliers as well as between external partners and Swedwood. Of course some tensions and a conflict of interest could emerge, owing to the circumstance that many of the information are very confidential and companies do not want to share them. Suppliers could fear that they would lose too much room for negotiation and feel used. For this reason it is essential that IKEA clearly states to their suppliers that this step is crucial in order to improve the competitiveness of the
Disappearances of many air and sea travels over the Atlantic led many people to believe that there is a specific area of the ocean where an abundance of mysterious disappearances take place. However, some think there is a logical explanation to the madness. In February of 1954, a man named Vincent Gaddis came up with a conspiracy to explain the disappearances. Vincent Gaddis’ way of thinking is that, there had been an abundance of airline and sea travels,lost in the Bermuda Triangle.