Consequently, the owner has limited legal powers towards the third party. Only in a situation where the third party knew or should have known that the contract in question is violated, the inventor may have remedies towards the third person, but this is merely an exception than a general rule. Efficient trade secret laws could actually lead to greater knowledge diffusion. The optimal law protecting trade secrets, should result in the allocation of the information to more people, which could lead to more innovation and an increase in human capital, by minimizing the risk of distribution to competitors. Without effective trade secret protection by law, the protective measures taken by the companies having
Question Presented Q-1) Is there the requirement of parity of default rules in case of incomplete contracts? Q-2) Is there a need of default rules? ANSWERS RELATED TO THE FACTS Ans-1) The default rules for incomplete contracts can be similar to the same type of cases. As we know there is too much burden on judiciary and so many cases are also pending in the court so by applying similar default rules on the similar cases it will save the time of judges and can also fill the gaps more effectively. Ans-2) Yes, default rules are very important for the incomplete contracts to save the other party from loss in case of default of another party.
I will see their opinion begin with harmony but end up with different perceptions. Interpretation of Laws Concerning abusive practice, AG Colomer holds “the closer the undertaking in a dominant position is to hindering competition in the market, the stronger the presumption of abuse”. In AG Colomer’s opinion, there are actually some practices which are considered as abusing dominant position per se. For example, exclusive purchase obligation, loyalty rebate, and predatory pricing; yet, not all anti-competitive behavior should be seen as abusive. But even before the
Finally, a government monopoly on pot would prevent a price collapse, which the report’s authors fear could allow proliferation of the drug: For most consumer goods, lower prices are a cause for celebration, but, if consumers are vulnerable to overindulging, low prices might be problematic. For example, some view innovation that has led to very low prices for soda pop, junk food, and candy to be a curse, not a blessing. Government monopolies are often considered inefficient, but when it comes to producing a psychoactive substance that could be a good thing, the researchers argue. 5. Have a public authority do it One alternative to a government monopoly is granting a public authority control over which the government can exercise tight control.
He shows that both a strict liability and a fault-based regime do not achieve a socially optimal prevention level but negligence seems more efficient than strict liability. Other contributions confirm the relationship between uncertainty and care level inefficiency. For instance, Franzoni (2012) considers the case of ambiguous risk where ambiguity is graded because of the existence of alternative distributions on the accidents likelihood. He analyses unilateral and bilateral accident models. He shows that, under strict liability, damage increases with rising ambiguity.
The next major point of discussion under the Equality of Welfare was the problem of Expensive taste which in my opinion is somewhat in contrast with the egalitarianism or welfarism. I think that focusing to such an extent on the expensive tastes of people will itself endanger the whole notion of the equality of welfare and thus, here I see no harm in implementing the Utilitarian principle and let the focus shift from individual utility to collective utility. Dworkin further presents arguments to show that the theory of welfare is not so coherent one by exemplifying hard cases as that of the handicapped (say Jade’s example) and even proves that the theory of welfare is a weaker one as it may prima faice look good but eventually may fail under hard
In consequence, despite the fact that a guaranteed minimum revenue si the key to solving major issues theoretically, it would not be accurate to state that it could easily be implemented in the real world. Working Disincentives The previously discussed working incentives which would occur with the introduction of a guaranteed minimum income, are challenged by the beliefs of Preston and Haywood. By taking into account the major increase in taxes, one can argue that the average and marginal tax rates will also increase. This will lead to the work disincentive, as recipients retain far less of any additional dollar that they
The recipient’s insurance or a government program such as Medicare should pay these costs. Any direct payment to the donor though could be disastrous. Any form of payment would result in the exploitation of the poorer donors. This is because, “wherever there is a market, people will strive to find a profit margin even when this results in human exploitation” (Adair and Wigmore PAR 3). Those living around the poverty line would become the most likely donors, not because they necessarily want to help someone, but because they need the
As for Emily already her goods took too long to be delivered, litigation could consume way more time and could create a problem for her. Also she spent enough money on ordering the goods; litigation might cost her a lot more than she spent on ordering the goods. And as with private judging, usually the wealthier parties can afford the cost, maybe she would fail to afford. (vivianholley.com, accessed 11th November, 2015) Arbitration is preferred in resolution of commercial disputes because of the following benefits: Parties can gain the services of an expert in the specific commercial field. In this case, when the subject matter of the dispute is highly technical, arbitrators with an appropriate degree of expertise can be appointed (as one cannot “choose the judge” in litigation).
This is when after a legal dispute has been resolved; the parties enter into separate litigation as to the amount of legal costs that should be paid by the losing party, increasing costs. Therefore while there has been an increase in early settlement, a key objective – reducing costs- has not been met. To complete the Woolf scheme it was necessary to introduce further reforms to preserve the gains of the reforms, by exploring cost control measures, whilst ensuring that swift justice. The Jackson Report made an effort in this regard and illustrates the failures of Woolf by further revising the issue of cost and providing further
According to the article it stated "If the law failed to provide a deadline, then a person could face a lawsuit decades after an alleged injury happened." which mean it limits the time for filling a lawsuit to allow peace of mind.This is one reason why Statute of Limitation is fair for both Plaintiff and defendant. In addition , Statute of Limitation is fair for both Plaintiff and Defendant because, it diminish
Can a Livable Minimum Wage Ever Be Achieved? Raising the minimum wage by just about $2, would bring 4.6 million people out from under the poverty line (The Case for a Higher Minimum Wage 2). There is no question that a person cannot support themselves on the $7.25 national minimum wage; unless you buy the bare bones package. A higher minimum wage would boost the economy and save taxpayers millions of dollars. The problem with all of this information available about increasing minimum wage is that they have a flimsy foundation; the intent is good but the methods and results are untrustworthy.