Fast cycle markets are not immune to copying by competitors.
Since imitation is less costly due to initiation of other products
due to reverse engineering.
Ethical Issues:
1. Infringement of Intellectual Property:
Engineers and scientist sometimes patent their technologies .
Competitors in quest for imitation sometimes infringe their
intellectual property rights.
2. Industrial Design infringement: sometimes copy the process to
produce a product from their competitors which is a violation of
IPR.
3. No incentive to innovators: Innovators don't get rewarded for
their innovation as other copy their ideas and monetize their idea
which creates losses for the innovator. Higher is the expected rate
in all case expect when beta less than or equal to 0.
Best of Luck. God Bless
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