...Property rights are the ownership rights an entity or person has over something. It is exclusive authority as to how a resource will be used or sold. The owner of the property can also have “private property rights” “Private property rights are exclusively held by an owner and protected against invasion by others. Private property can be transferred, sold or mortgaged at the owner’s discretion.” (J.D Gwartney, R.L Stroup, R.S Sobel, D.A Macpherson 2015) A well-defined and enforced property rights are very important in shaping long run economic growth and prosperity. Property right gives protections against expropriation by government, in situations of high taxes, confiscation and price control. And from other institutions who facilitate private contracts between citizens. “In the developed world, the role of property as a foundation for economic growth is commonly taken for granted because it is omnipresent and generally secure. By contrast, the effects of the absence of property are acutely felt in many developing countries. These effects are typically manifested by a disproportionately large level of informal economic activity.” (J.D. Sullivan & K,E Bettcher n.d.) There are several areas in property rights. Some ownerships are tangible and other are non-tangible. The property may be real estate, or it may be intellectual property like a copyright or trademark. A person may purchase a home, and have all rights to live in it, change the color of the walls, add a...
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...Property Rights The rights to use, control, and obtain the benefits from a good or resource is known as Property Rights (Gwartney, 2015). The views on this have been the same for ages. If you own a property you have the right to do with it as you please within the context of the law. Property Rights are attained by purchasing, inheriting or receiving the right. Private Property Rights is when you are the sole person or group to that particular asset. It consists of three things; the right to exclusive use of the property, legal protection against invasion and finally the right to sell. Harold Demsets the write of, “Toward a Theory of Property Rights” describes it using different wording. He explains that when a transaction is concluded in a marketplace there are two exchanges that create a Property Right. Also a bundle of rights often attaches its self to a physical commodity or service, and it is actually the value of the right that gives it its trade value. Learning that there are also regulations on a Property Right is interesting. Our book gives a scenario on how you can’t use your property to destroy or hinder someone else’s property A living example of a Property Right is buying a car. When you buy a car there is a transfer between two individuals of a good which would be the car. Once you become the owner of this vehicle you are instantly a Private Property owner. This means that you are able to do with the vehicle as you please. As long as you aren’t harming someone...
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...PROPERTY RIGHTS OF A PARTNER Art. 1810. COMMENT: Property Rights of a Partner (a) Example of “specific partnership property”: A and B each contributed a car for the partnership. The two cars are specific partnership property. (b) Example of “interest in the partnership” — the partner’s share of the profits and losses (without mentioning any particular or specific property). (c) Note that the right to participate in the management is a very valuable property right. Art. 1811. COMMENT: (1) Co-Ownership in Specific Partnership Property The law says “a partner is co-owner with his partners of specific partnership property.” What does this mean? ANS.: Simply that they are co-owners (tenants in common with proportional, sometimes equal) right thereto. However, the rules on co-ownership do not necessarily apply; the rules on “co-ownership in partnership” are applicable. Said rules are detailed in the subsequent paragraphs. (See Commissioner’s Note, 7 ULA, Sec. 25, pp. 32-33). (2) Rights of a Partner in Specific Partnership Property (Example: a car contributed by one of the partners to the partnership) (a) In general, he has an equal right with his partners to possess the car but only for partnership purposes (not for other purposes, except if the others expressly or impliedly give their consent). (b) He cannot assign his right in the car (except if all the other partners assign their rights in the same property). [NOTE: If this rule is violated, the assignment is VOID...
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...Property Rights and Our Rights The two videos describe the importance of Property rights and our rights as individuals. In the first it discusses the importance of property rights. Although individuals at times feel that property rights are only for the “rich.” Though what people do not know is that property rights actually help us live together in peace and prosperity. Property rights pervade our social world, encouraging productive labor and reduce waste. For instance if there is a house that is foreclosed and no one has a clear understanding of who owned it the house would be left to ruin and waste away. Property rights are natural, they are essential for individuals living in societies; they establish happiness, peace, and prosperity. Though property rights are important for everyday life and everyday waste, actual rights establish moral concepts that establish the conditions within which we interact. Our rights establish a moral and ethical “code” that we live by. Rights condone rules, for example, say you want to make a square into a circle you are reasonably wrong; though wanting to murder someone that is ethically wrong and in violation of our rights. We need to understand the way our right are formed and how we need to follow them correctly. II enjoyed these videos because they tie into the Northwood idea. Property rights establish a way to preserve waste; much like we as individuals try to find way to preserve ourselves as individuals to be the best person we can be...
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...Meghan Muller December 18th, 2012 Property rights are a topic brought up in many discussions and debates. It is such an important aspect in our lives, and is a major part of our freedom. The right to ownership begins with out natural rights. In our natural state we have a right to our body which leads us to have a right to the to the energy we exert. Locke explains this to us by saying “The labor of his body, and the work of his hands, we may say, are properly his. (Locke, 209)” Once we exert energy onto an object, or land, that entity is now fulfilled with our personal labor. Property rights should guarantee that that entity is now rightfully ours. Proudhon furthers this discussion by simply stating, “Property is robbery.” The capitalist pays a wage in return for labor, however, that entity is still enriched with the workers energy. If what Locke claims is true, you are entitled to whatever you exert your energy upon. This is not the case for Proudhon's explanation. The capitalist owns whatever the laborer creates. He is therefore robbing the laborer of his property. In many aspects this is unethical. There are many different opinions about how to classify the labor workers produce everyday. It is given that as humans we are entitled to entities created with our labor. There are also many ideas on the impact labor has on our society and self interest. Smith discussed his idea of an “invisible hand” that is apparent in the lookout for self interest...
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...Intellectual Property Protection is a very important because it protects innovation. Without the protection of ideas, people and business would not enjoy the full benefits of their creations. Intellectually property piracy is threat to all businesses, not just the ones located in the United States. Institutions like the World Trade Organization (WTO) and World Intellectual Property Organization (WIPO) advocate for better protection of intellectual property. These organizations help companies’ combat intellectual piracy. The main vehicle is intellectual property rights (IPR). Basically it gives registered owners of inventions, literary works, artistic works, symbols, names, designs and images, the right to say how their property is used. IPR’s are limited because not every company accepts the various agreements that protect IPR’s. Besides working with the WTO and WIPO companies should proactively work toward countering violations of their intellectual property. If it is cost effective, acquiring legal counsel that specializes in Intellectual Property Law should be considered. With or without legal counsel, the following are some of the courses of action that businesses and managers can take to help protect their intellectual property. Register - Companies and individuals should register their Intellectual Property (IP) with the United States government and the governments abroad that the company or individual wishes to do business. In addition, countries should register...
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..."Intellectual Property and Global Intellectual Property Rights" Please respond to the following: Determine whether or not existing “fair use” exceptions strike an appropriate balance between creators and users of the material. Provide two (2) specific examples to support your response. The fair use doctrine permits limited use of copyrighted material without the individual getting permission from the rights holders. "Copyright laws were established not to give the author the right to deny their work to other people, but instead to encourage its creation". It’s a fine line between the rights of the creator and the public's interest.When in conflict, the balance tips more heavily toward the public’s interest, which is often contrary to what the creator believes to be fair or just. For example when an individual uses a picture online for a product review, more than likely you want a quality picture so the individuals website and upload that particular picture to the review. The picture will not take the place for the actual product, so the owner’s rights are not affected at all. Therefore, the individual's right to use the copyrighted image would likely be permitted under fair use. www.copylaw.org/p/normal-0-false-false-false-en-us-x-none.html Determine the key legal and ethical issues surrounding the ability of pharmaceutical companies to patent and exploit plant-derived substances, and suggest at least one (1) way in which a company might provide compensation besides...
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...Competition Law and Intellectual Property Rights with Special Reference to the TRIPS Agreement Research Paper for the Competition Commission of India February-March 2010 Eashan Ghosh V Year, B.A. LL.B. (Hons.) National Law School of India University, Bangalore TABLE OF CONTENTS §1 THE IPR AND COMPETITION LAW INTERFACE_____2 §2 TYPES OF RESTRAINTS_____3 §3 COMPETITION LAW REGULATION OF IPRs ACROSS JURSIDICTIONS_____4 §3.1 Europe_____4 §3.2 US_____4 §3.3 Other Jurisdictions_____5 §4 THE TRIPS AGREEMENT_____5 §4.1 Article 7_____6 §4.2 Article 8.2 _____7 §4.3 Article 40_____7 §4.4 Article 6_____10 §4.5 Article 31_____11 §5 WHAT STANCE SHOULD DEVELOPING COUNTRIES TAKE?_____12 §6 ADDRESSING THE IPR AND COMPETITION LAW INTERFACE IN INDIA_____14 §6.1 Through Domestic Legislation_____14 §6.2 At International Fora_____15 §7 ENDNOTES_____17 BIBLIOGRAPHY_____29 Primary Sources_____29 Secondary Sources_____32 1 §1 THE IPR AND COMPETITION LAW INTERFACE The simple hallmark of competition law is the protection of those principles and practices which enable the efficient functioning of markets.1 A natural concomitant to this objective is making certain that incumbent enterprises do not engage in anticompetitive practices to the detriment of the market.2 However, the application of competition law standards—in terms of practices that should be banned outright, viewed as potentially anticompetitive or should be investigated further—varies widely across jurisdictions.3 The interaction...
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...Intellectual property rights provide the foundation for building and extending markets for new technology. Economists and policymakers are progressively realizing that to manage and encourage technological progress, there is a need of a framework of legal institutions that promotes its benefits but also limits its excess. The paramount difficulty of companies and individuals engaging in development of new technology of any kind is appropriating the fruits of their labor. In developed market economies, in spite of the presence of substantial intellectual property rights, the widespread imitation of intellectual property deems them imperfect and inadequate. Lax enforcement of domestic laws and regulations, and the absence of international treaties concerning the protection of international property rights further aggravate the problem. The framework and implementation of intellectual property rights shapes the success of major industries ranging from computer software, biotechnology to entertainment as it determines how they can market their products. Intellectual property is expensive to create but easy to reproduce. The fixed cost of producing intellectual property is high, but its marginal cost is low. For example, the research and development of a drug can cost billions of dollars, but its reproduction can easily be done at low costs. Lack of protection gives rise to free riding on the innovator’s production and kills the innovator’s incentive to produce more. Registering...
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...Intellectual Property Rights Intellectual property rights have come to play an important role in developed economies, with arguments for and against these rights. While the focus of this paper will concern itself with the music industry as an example, it is important to first state the economic benefits and costs of intellectual property rights as a whole, as this will be the basis in which one will examine intellectual property rights in the music industry. The main arguments for intellectual property rights include: improved innovation, enhanced wealth and limited dispute over resources, and the promotion of competition and ideas. (Mackaay) The main arguments against Intellectual property rights include: net utility is not achieved, moral and ethical problems of intellectual property rights, higher costs and no evidence of wealth maximization. (Kinsella 1-53), (Perelman) In general, it was found that intellectual property rights can have a positive or negative effect on economic growth, depending on the environment and situation. (Maskus) Thus, it is important to realize that any discussion and evaluations related to the music industry are not relevant to intellectual property rights as a whole and should not be used as a comparative measure for other industries in general. Also, it is vital to analyze the political aspects of the music industry and its influence on intellectual property rights as it is a contributing factor in the forming the environment...
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...John Locke’s philosophy on property rights begins with his belief that God gave “The earth and all that is therein is given to men for the support and comfort of their being” (p.115, para. 25) and in order to benefit from the earth’s bountiful resources, man must “…appropriate them some way or other…” (p.116, para. 25). Locke’s initial reference to the concept of property and ownership comes when he discusses how “…every man has a “property” in his own “person”” (p. 116, para. 26). His words, “The “labour” of his body and the “work” of his hands…” (p.116, para 26) and the acorn/apple example offer an understanding of when, exactly, Locke states property ownership and/or property rights take affect. “…If the first gathering made them not...
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...FINANCE, BAU MOB: 01718996557) LAND AND PROPERTY RIGHTS OF WOMEN IN BANGLADESH Secure rights to land and property for women are widely regarded as fundamental to ensuring effective and sustainable human development. Rights to land and property include the right to own, use, access, control, transfer, exclude, inherit and otherwise make decisions about land and related resources. Secure rights to land are rights that are clearly defined, long-term, enforceable, appropriately transferable, and legally and socially legitimate. The Present Position Of Property Rights Of Bangladeshi Women Hindu: The property rights of the Hindu women are highly fragmented on the basis of several factors. Hindu women inherits equal land rights but most of the family do not follow the rule. Rights of tribal women: It is also pertinent to mention here that as far as property rights of the tribal women are concerned, they continue to be ruled by even more archaic system of customary law under which they totally lack rights of succession or partition. Infact the tribal women do not even have any right in agricultural lands. Muslim women’s property rights: Bangladeshi Muslims broadly belong to two schools of thought in Islamic Law.In Islamic law women get only half of their father’s property. Christian women’s property rights: The Bangladeshi Christian widow’s right is not an exclusive right and gets curtailed as the other heirs step. Parsi women’s right to property: Basically, a Parsi widow and all her...
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...Intellectual Property Rights 2014 1.Intellectual property rights: US set to punish India The Indian embassy in Washington DC too scheduled a briefing by its economic and commerce wings soon after the expected US action. TNN | Feb 10, 2014, 10.28PM IST WASHINGTON: It's not looking good between New Delhi and Washington. Tensions over the Khobragade episode are yet to fully dissipate, but the two sides are locking horns again over intellectual property rights. The Obama administration is scheduled to announce unspecified ''trade enforcement action'' against India on Monday evening (Tuesday am IST) Washington time. United States trade representative (USTR) Michael Froman and general counsel Timothy Reif will hold a news conference to announce action related to India, the USTR said earlier in the day in a head's up to journalists. The Indian embassy in Washington DC too scheduled a briefing by its economic and commerce wings soon after the expected US action. All this comes ahead of a re-scheduled visit to New Delhi of US energy secretary Ernesto Munoz, which was postponed from January because of the Khobragade row. 2.Hurdles in business growth forcing entrepreneurs to mass exodus Krithika Krishnamurthy, ET Bureau Mar 28, 2014, 04.30AM IST * (Starting up in India is easy…) Within the next six months, Bangalorebased technology entrepreneur Jay Krishnan will be heading east in search of a better place to locate his fast-growing business...
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...Intellectual Property Rights and Economic growth “Imagination is more important than knowledge” – Albert Einstein Albert Einstein’s preference of imagination over knowledge speaks well to the potential capabilities of enterprises and businesses. If a creative idea is discovered, it can be transformed into innovative products. Innovation is instrumental among other things in creating new jobs, providing higher incomes, offering investment opportunities and curing disease. “There is wide agreement that innovation and entrepreneurial activity are the engines of long-run economic growth” (Hill 63). Intellectual property rights have become a significant factor in both creating and using ideas that are translated into knowledge and inventions to promote innovation and economic growth. Through this paper I will discuss the importance of protecting intellectual property and its impact on economic development. What is intellectual property and IPR’s? “Intellectual property refers to property that is the product of intellectual activity” (Hill 54). It might be a poem that you write, a computer software, a mother’s invention of saline Boogie Wipes for babies or a formula for a new drug. Creators can be given the right to prevent others from using their inventions, designs or other creations and to use the right to negotiate payment in return for others to use them. These are “Intellectual property rights”. They allow the creator or owner of a patent, trademark, or copyright...
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...The most extensive connotation of the word “property” is that which encompasses the entirety of the legal rights, whatever their nature may be, to which a person is considered entitled. Property is a very unique right to a particular object which may be enforced against the whole world. In other words a property right is binding in rem. William Blackstone famously defined the term property to mean the “sole and despotic dominion which one man claims and exercises over the external things of the world, in total exclusion of the right of any other individual in the universe. This application of the term property may be simplified by stating that property is a right which enables the person possessing such right to exclude the world at large from the exploitation of such right. 1.1 Theories of Property There is considerable literature on the theories of property. Some of the theories that have been developed are reproduced hereunder. The Occupation theory is one of the oldest theories and it is based on the assumption that whoever discovers something will be entitled to its ownership. In other words the right to property is based on the original discovery and occupation. The Labour theory of property as propounded by John Locke provides that if man adds labour to anything that has been provided by God it entitles him to that particular thing. The Philosophical theory of property according to this theory the institution of property lies in the well being of the community as...
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