Question

Stricter laws and regulations to protect intellectual property rights A. will only benefit those companies whose intellectual property rights have in the past been ignored. B. will create a stronger and more successful black market for intellectual property. C. will help to create a more successful market system. D. will tend to have little impact on an economy since intellectual property is not tangible.

Answer 1

Answer:

The correct answer is letter "C": will help to create a more successful market system.

Explanation:

Markets themselves cannot ensure fairness in trade. Self-driven markets are likely to be in favor of producers more than consumers. In such situations, the government's intervention is crucial by imposing regulations that promote a more successful market system. Those sets of rules must be strict but should allow the flow of the market, thus, the rules must be flexible enough not to fall under the practices of a command economy.

Answer 2

Answer:C. will help to create a more successful market system.

Explanation: Intellectual properties are creations of the mind,they are works of people's creative mindset. Intellectual properties can be protected through any of the four different classes of rights

(1) Copyright,(2) patents (3) trademarks (4) trade secrets.

Copyright is the exclusive right give to the creator or the originator of an intellectual property for him or her to continue to recreate for a specific period of time, it is renewable.

Patent is a right or authority given by Government to the creator of an intellectual property to prevent others from recreating the same invention over a period of time.

Trademarks are a type of intellectual property rights which represented by some signs signifying that it is produced under authority.

Trade secrets are certain undisclosed facts or procedures concerning the creation of a given invention,they are recognised by Government.

PUTTING STRICTER LAWS TO PROTECT INTELLECTUAL PROPERTIES RIGHTS will help to CUT DOWN THEFT, CORRUPTION AND HELP TO MAKE THE MARKET STRONGER AND BETTER.