because legal monopolies
allowed producers to drive up the price of
Of course, China does have huge firms, but they are inefficient state-owned behemoths that owe their size and profitability to their legal monopolies
and to government subsidies.
If intellectual property law is justified by appeals to the promotion of free competition, then the dilemma of the law is to balance the market failures that might occur when investment in innovation is deterred by unbridled free-riding versus the deterrence of innovation investment among second-comers if ill-conceived legal monopolies
enable rent-seeking oligopolists to control and stifle follow-on innovation.
Love: By eliminating legal monopolies
and prompting competition for products.
Too bad, critics say, he didn't realize that inherent regulatory inefficiencies and the legal monopolies
of the companies themselves were to blame for his lack of a lift, not just a cranky cabbie.
Please note: I am talking throughout this article about perfectly legal monopolies
, such as patents, brands and trade secrets; I am not talking about illegal, collusive monopolies or price-fixing.
According to the industry view, patents create temporary legal monopolies
to encourage useful advances in knowledge; they have no moral or theological implications.
Until now, electric utilities have been legal monopolies
Their surveillance could be made a bit easier if the PUC before the end of the year can summon the consensus and courage to put strong enough rules in place so the three giant utilities can't take unfair advantage of their 100-year histories as unchallenged, legal monopolies
prohibition on Internet gambling could lead to the creation of legal monopolies
for those entities exempted under federal legislation.
They lack the usual signs of respectability, such as big buildings and established reputations, and they cannot count on legal monopolies
to rope in customers.
or dominant market power, extracting monopoly