BUSI 2701 Lecture Notes - Lecture 2: Mineral Rights, Product LiabilityPremium
2 pages86 viewsSpring 2018
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● A resource over which an indiviual or business hold a legal title
● Resources may include:
○ Land and real estate
○ Mineral rights
○ Intellectual property
● Bundle of legal rights over the use to which a resource is put and over the use made of
any income that may be derived from that resource.
● Actions against property rights
○ Private action
○ Public action and corruption
■ Levying excessive taxation
■ Requiring expensive or permits from property holders
Product Safety and Product Liability
● Product safety laws set safety standards to which products must adhere
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