Question

1) Define the advantages of Protection and Diffusion 2)Identify a situation in which none of the...

1) Define the advantages of Protection and Diffusion

2)Identify a situation in which none of the legal protection mechanisms discussed ( patents, copyrights, trademarks, trade secrets) will prove useful.

3) What are the differences between patents, copyrights, and trademarks?

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Answer #1

1. Main advantage of protection is to restore the confidence and to innovate those which ensure long term growth and improved quality.

Main advantage of diffusion is technology remains internal to the firm and technology spillovers are reduced at both firm level and industrial level

2. Any product invention when available on market can be easily reverse engineered or similar invention can be invented again. In markets, legal protections are ignored leading to piracy or duplication

3. PATENTS : Rights granted by the government that excludes others from producing, using or selling an invention

TRADEMARKS : A word or phrase that is used to distinguish the source of goods from one party from goods of other party

COPYRIGHTS : A from of protection granted to works of authorship

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