ECON451 Lecture Notes - Lecture 3: Expectation Damages, Breakcore
9 Aug 2016
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Document Summary
Trademark is important in differentiated products settings. Companies can have incentive to invest in reputation. Trademark must be able to last forever. Cannot trademark the look of a product. Putting the onus on the author of an idea to enforce their own ip and its usually done contractually. Sued and lost because supreme court ruled that database is not a creative. Now everything has an end-user license agreement because software companies feel like they don"t get enough protection from ip since you cant sue for the use of their database (no property protection) they rely on. Essentially about the movement of property rights. Contractor/house two-sided holdup problem (you don"t know if they did a good job and if it"ll fall apart), this is where contract kicks in. The first job of the courts is to enforce contracts. Sometimes contracts don"t specify what both parties should do in the scenario that different situations arise.
