So what’s the big deal about Internet piracy you ask? According to Chellappa et al., the rate of software piracy in the Asia-Pacific region has been estimated at 53% for 2004, and over 90% in Southeast Asian countries.  Piracy costs US firms nearly $60B a year and has shaved 373,000 jobs out of the United States economy.  However, losses that businesses realize regarding piracy have one fatal flaw – they assume that every product that is pirated would otherwise have been purchased at full market price.  This assumption is wrong because it ignores the basic rules of market theory.
Market equilibrium is the state of equality between the amount of a product supplied and demanded.  Where there is a glut of supply (surplus) or demand (shortage), the market is said to be in disequilibrium; this is currently the case in many industries where intellectual
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It is well understood that regulatory schemes have an influence on the rate of new innovations in an industry.  What is unknown is to what extent regulatory schemes influence the rate of new venture creation by industry actors. In order to study this question, it is necessary to define the nature of the diffusion of new innovations and to consider the reaction of market participants in their acceptance of new innovations in the face of regulatory schemes and extrapolate from this reaction how they will react to the same regulatory schemes with regard to forming new ventures.
Diffusion of Innovation defined:
Diffusion of new innovations can be tracked by plotting a graph of an innovation’s rate of adoption by the marketplace; this graph produces an S-shaped curve whereby a more gradual slope suggests a slower rate of adoption and a more inclined slope suggests a faster rate
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Paper cuts, tired eyes, and boredom are all terms associated with the task of document review. Lawyers may spend countless hours poring over documents for a single word, phrase or name. Those hours quickly add up, especially when there are hundreds or thousands of documents. Document review might be an income generator for a large firm that can afford to let a new associate sit in a room and sift through stacks of paper, but the same task might cripple the operations of a small firm or solo practitioner.  “With discovery requests growing exponentially, the legal department’s challenge is to get smarter and faster or to spend more money and time in reviewing documents.”  The American Bar Association reports that 48 percent of attorneys are solo practitioners.  Furthermore, only 14 percent of attorneys work in firms with more than 100 attorneys.  Is there anything that … Read the rest
Everyone likes to make a quick buck. In the summer, garage sales are common in neighborhoods. Some towns hold flea markets. Small carts with various items for sale adorn the aisles of most shopping malls. People sell items on Ebay. At any one of these places you might find a knockoff designer good for sale. As a kid, I had my fake Oakley sunglasses. Just recently, my sister returned from New York having purchased a knockoff Prada bag from a street vendor. Knockoff or fake designer goods exist, but what happens if you sell such goods here in Illinois and hold them out to be real?  How about selling such goods here in Illinois and holding them out to be fake? This article will seek to generally answer these questions for non-internet based sales in Illinois.
The Illinois Consumer Fraud and Deceptive Practices Act deems fraudulent
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