Speaking of clones, Gary Stix (2004) explains an interesting display case currently being heard in Federal court. It involves the event that a distinct is supposed to last for a predetermined period so that the knowledge contained in that locationin eventually passes into the familiar domain. This case involves a patent on monoclonal antibodies. A company called Celltech received a very broad patent in 1989 on monoclonal antibodies. An some other company, Genetech, initiated a deed at the U.S. Patent and Trademark Office [PTO] claiming that it had invented the technology. The PTO engraft for Genentech. Subsequently, the two companies entered into a confidential settlement that resulted in a federal district court ordering on work on 16, 2001, that the PTO should revoke Celltech's patent, which was scheduled to expire in 2006 and income tax return a new patent to Genentech, with an expiration of 2018. Thus, the government give monopoly, the patent on monoclonal antibodies that would and should have expired in 2006 will be extended to 2018 meaning no other company can use the patented technology to ca-ca these antibodies (Stix, 2004).
Market structure is a set of market characteristics such as number of firms, easy of entry into a concomitant business or market, and barriers to entry for new firms such as high start up costs. Economists principally characterize market |
structure by the number of firms. If there is just one firm in the market, it is a monopoly. In contrast, perfect competition is characterized by: Skelly, K. (2004, January). Economics of Baseball. Monthly Labor outside(a) Trade Theory and Policy Lecture Notes | Ordercustompaper.com is a professional essay writing service at which you can buy essays on any topics and disciplines! All custom essays are written by professional writers!
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