Disney Pixar Essay Example for Free

Disney Pixar Essay The balance sheet is a snapshot of a company’s financial condition. It shows assets, liabilities, and stockholder’s equity. An asset is an item of economic value owned by an individual or corporation, especially that which could be converted to cash or liquidated. A liability is an obligation that legally binds an individual or company to settle a debt. When one is liable for a debt, they are responsible for paying the debt or settling a wrongful act they may have committed. Stockholder’s equity is a company’s common stock equity as it appears on a balance sheet, qual to total assets minus liabilities, preferred stock, and intangible assets such a good will. Disney had reported their fair values for cash equivalents and cash, receivables, accounts payable, contracts, derivates and investments that are available for sale. The Company estimates their total current cash and equivalents totaling an amount of 13. 7 billion for October 2, 1010 and 12. 6 billion for October 3, 2009. Disney is such a huge company and has array of assets and best known brands. From parks, property, leasehold, equipments, furniture, land, copyrights, FCC licenses, trademarks and other intangible assets. The Company’s total assets totaled up to 42. 2 billion for 2010 and 38. 1 billion for 2009. Disney has many big assets but their largest assets are their parks and resorts/ properties. Based on their 2 most recent annual reports, the Company reported their largest assets coming in at 16 billion for October 2, 2010 and 16 billion for October 3, 2010. Two of the largest liabilities that Pixar has forgone in the last two most recent reporting periods are the Steven Jobs with The Pixar Touch and the tax liability of backdated Pixar stocks. With the Pixar Touch liability Steven Jobs had put $50 million into the company. The book started losing money the first year putting a liability into the company. With the backdated Pixar stocks puts many jobs in the dark spot light. This puts Pixar having a total of $31,687,000 of all current liabilities at the end of their most recent annual report. Pixar revenue for the past three years has taken a leap of an average of 54. 4%. Annual sales for the 100 top finishers rose of an average of 30. 7% annually. This puts Pixar having profits jump up to 55. 9% a year. Pixar is the hottest movie maker on the years hot growth list. Walt Disney is a huge entity. The Walt Disney World Resort encompasses 30,500 acres, making it approximately the same size as San Francisco. Looking at Disney’s balance sheet their total assets at the end of its 2 most recent annual reporting periods (2010) was $69,206,000. The total amount of accounts payable at the end of its 2 most recent annual reporting periods was $6,109,000. Also, the company’s total current liabilities at the end of its 2 most recent annual reporting period were $11,000,000. An income statement reports the profitability of a company’s operations over a period of time (Weygandt, 2008). Net income is when a company’s revenues exceed their expenses, as opposed to net loss when a company’s expenses exceed their revenues, and will not include investment or dividend transactions. Disney has had the success in being able to report all net income on at least three of its last income statements. Disney’s net incomes for the last three annual reporting periods are as follows: †¢2008 – $4,427,000 †¢2009 – $3,307,000 †¢2010 – $3,963,000 As you can see, from 2008 to 2009 Disney’s net income decreased by $1,120,000. Most of this loss is due to the state of the current economy.

Personal Narrative - Our Marriage Essay -- Personal Narrative Writing

Our Marriage Our official journey began on August 2, 1997 in Las Vegas. That was our wedding day and my official entry into married life. Tim and I said, ?I do? in Clark County, Nevada. The clerk declared us 'best friends for life' in a ceremony with just the two of us. That declaration was more profound and welcomed than one any priest could have made. Our wedding cost a total of seventy-two dollars, this included the license and ceremony. I should also include the cost of what I call 'our wedding planner.' His name was Jake and he was a taxi driver, he charged us fifteen dollars and we tipped him fifteen for his extra duties, it was a special day. When we arrived in Las Vegas from Boulder our car started to over heat from the long drive through the hot desert. We decided to park it at the hotel. We hailed a cab and set off to find a place to get married. We had a deadline; our honeymoon was scheduled to begin the next day. The cab driver drove us past several different chapels giving us details about each one. After a brief survey of chapels we asked him to drop us off at the justice of the peace. The chapels just seemed too cheesy and besides, I had no real affection for Elvis. He dropped us off in front of a large, very official looking building to get the license and he directed us across the street to a small brick office wher e the ceremonies are held. I had the distinct feeling that he has provided this service a few times before in his career. I soon found myself waiting in line behind a frail elderly man with a huge smile on his face; he stood next to a young girl, she looked equally happy. The man wore a red velvet jacket and the girl wore a shimmering red dress with spaghetti straps. It was a dress that would... ...ming with life. The smell of the flowers was intense and enlivening. The breeze that was not restricted by car windows, the heat that was not reflected by a rooftop or eradicated by air conditioning, the rain that was not repelled by anything more than my poncho, I was one with all of it. As I biked past, I moo'd as loud as I could at the cows in the fields and felt happy doing it. I even occasionally rode in the van when I was tired. Today I question my fears before I give into them. The questioning usually results in nothing that I can rely on as a concrete reason for forgoing an experience. The way we chose to get married, I had up to the last minute to change my mind. No wedding guests, invitations, seating arrangements, flowers, or caterers. Today seven and a half years later, I can say my marriage is the thing that has brought me the most joy in my life.

An Analysis of Roberto Matta’s “Eat Us Sir Fire, Eat Us”

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Intellectual Property Concerns - Free Essay Example

Sample details Pages: 14 Words: 4136 Downloads: 4 Date added: 2017/06/26 Category Law Essay Type Narrative essay Level High school Tags: Intellectual Property Essay Did you like this example? Introduction In line with the advancement of technology in the field of medicine, there has been a great deal of discovery of human genome related genes and diagnostic methods. Patent law has encouraged inventors to patent their invention so as to avoid exploitation and promote innovation. However, these patents appear to be controversial and have been a hotly debated issue in many countries, such as the BRCA1 gene patents and its diagnostic methods patents. Don’t waste time! Our writers will create an original "Intellectual Property Concerns" essay for you Create order This essay will address the merits and demerits of patent by looking into the relevant legal framework and analyzing it in terms of US, UK and EU case laws. The main focus would be on patentability of genetic diagnostic in vitro test and human genome related genes. Patent Law European Union The general requirements for patent law in Europe is governed by Art 52(1) of the European Patent Convention(EPC) 2000.[1] It provides that any inventions that fulfill the requirement of novelty and inventive step can be patented if they are capable of industrial application.[2] However, the exact concept of invention has not been explicitly defined by the EPC. Nevertheless, it is stated that the invention must possess technical features[3] that relates to a technical field[4], and which involves a technical problem.[5] Thus, it can be seen that à ¢Ã¢â€š ¬Ã‹Å"technicalityà ¢Ã¢â€š ¬Ã¢â€ž ¢ is a prerequisite in order to be patent eligible. Besides, exclusions that must not be treated as i nventions are provided in Art 52(2)[6] and 52(3)[7]. United Kingdom In UK, the governing statute for patent law is the Patents Act 1977.[8] It is passed to implement the EPC. The essence of patent law is in s1 to s3 of the act, where the criteria for patentability are provided. This act also provides a list of exclusions from patentability that will only be applicable when relevant. According to s 4A(1)(b), diagnostic methods themselves are unable to be patented.[9] This provision is very similar to Art 53(c) of the EPC. United States Patent law in the United States is governed by S 101 of Title 35 United States Code(USC).[10] It provides that for a subject matter to be patentable, it must fall within either of these categories, namely process, machine, manufacture and composition of matter.[11] If one discovers or invents any new and useful abovementioned subject matters, or any new and useful improvement, they might be eligible to acquire a patent subject to the req uirements and conditions.[12] The prerequisite that an invention be à ¢Ã¢â€š ¬Ã‹Å"technicalà ¢Ã¢â€š ¬Ã¢â€ž ¢ is not explicitly present in US law. Also, there is no statutory provision equivalent to Art 52 EPC that provides exclusions from patentability. Nevertheless, the courts have devised some exceptions from patentability, such as law of nature, abstract ideas and basic human knowledge.[13] Patentability of Genes European Union and United Kingdom In order for a gene to be patentable, there must be an invention and it must satisfy the requirements of novelty, inventive step and industrial application. In Netherlands v DIR 98/44/EC, it was confirmed that Art 5(1) of the Directive which states that human body is not patent eligible was valid.[14] Therefore, a mere discovery of the existence of specific DNA sequence in the human body is not an invention and not patentable.[15] It follows that only invention that merges a natural element with a technical process where th e DNA sequence is isolated from its natural environment, or produced for an industrial application, would be capable of being patented.[16] As for the novelty requirement, we must be clear that what is being claimed here is the isolated sequence carried out through a technical process, which is distinct from what was existing, thus making it novel from patent law perspective.[17] The German Antamanid case held that the fact that an isolated substance which functions were not known to someone skilled at the time of application and not capable of being used before the application makes the substance something novel.[18] As for the inventive requirement, it is more difficult to satisfy. A genetic invention would only be regarded as inventive provided it is shown that acquiring the sequence was a technical achievement or that a new property related to the gene is discovered.[19] The use of DNA sequence as a diagnostic tool is said to involve an inventive step.[20] Lastly, the invention must be capable of industrial application. In short, if the patentability requirements are met, an isolated gene such as the BRCA1 is in principle patentable in the EU. United States In line with the three exceptions, a living thing is understood to be patent ineligible. However, in the 1980s, the Supreme Court held in Diamond v Chakrabarty that a genetically engineered bacterium that has different characteristics from the naturally occurring bacterium is patent eligible.[21] From then onwards, naturally occurring human DNA sequences of genes have been granted patent. This has sparked a widespread controversy over the negative impact gene patents could have on genetic testing.[22] Consequently, in Association for Molecular Pathology v Myriads Genetics, the Supreme Court held that the diagnostic genes which are involved in the susceptibility to breast cancer cannot be patented.[23] It held that merely isolating genes that can be found in nature does not render it patent elig ible.[24] The impact of this decision has extended beyond putting an end to the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s monopoly over its genetic diagnostic in vitro test. Patentability of Genetic Diagnostic Test European Union and United Kingdom Gene sequence is also used as the basic material of a genetic diagnostic test.[25] Patents are not only claimed in the gene sequence used in such tests, but also for diagnostic testing method itself.[26] Art 53(c) of the EPC provides that à ¢Ã¢â€š ¬Ã‹Å"diagnostic methods practiced on the human bodyà ¢Ã¢â€š ¬Ã¢â€ž ¢ are not patent eligible.[27] This is because medical and diagnostic methods ought to be available to the medical society, and without the need to obtain a use license.[28] The Enlarged Board in G1/04 sets out a list of steps that must be performed in order to be excluded from patentability and that each and every step must involve an interaction with the human body.[29] Therefore, genetic diagnostic methods such as the in vitro tes t where the steps are performed by in vitro technique on a sample tissue is purely specialized in nature, and lacking direct involvement with the body, hence will not be excluded from patentability under Art 53(c). This is evidenced in T666/05, where the genetic diagnostic in vitro test that determines oneà ¢Ã¢â€š ¬Ã¢â€ž ¢s susceptibility to breast cancer is held to be patentable.[30] In terms of patentability requirements, novelty is easily satisfied. However, à ¢Ã¢â€š ¬Ã‹Å"inventive stepà ¢Ã¢â€š ¬Ã¢â€ž ¢ could be difficult to be established. Nevertheless, if these tests could be performed based on the application of a single principle that is applicable to all the tests, as automated processes, there is no reason why patents of this kind should be denied despite the difficulty of establishing inventive step.[31] Moreover, even if the process is not inventive, it has been argued that it is inventive to come up with the test, and the development ought to be considered the unex pected effect of DNA.[32] Besides, the utility requirement is also easily satisfied because genetic testing based on the use of partial gene sequence is considered a special utility.[33] Thus, in principle, in vitro diagnostic test involving these technical steps are patentable in Europe, as opposed to tests that are practiced on the human body which are not patentable. United States In the US, there is no provision like Art 53(c). The US Patent and Trademark Office(USPTO) has provided a three-step test for determining whether it is patentable under S 101 of Tittle 35 USC. Firstly, it must be determined whether the subject matter is directed to a method, then whether its focus is on a natural subject matter, and lastly, whether there is presence of additional elements which combine the natural principle into the claimed invention in a way that the natural principle is practically applied.[34] In Mayo Collaborative Services v Promethues Laboratories, the diagnostic claim was held to be a law of nature and not patentable.[35] The process is something that has been well understood, and involves routine and traditional activity that has been practiced by researchers earlier.[36] There is no additional element such as innovation and inventive step that could otherwise make it patentable.[37] The court thought that patent law should not discourage further discovery by restricting the future use of law of nature in an inappropriate manner.[38] Mayo was followed in AMP v USTPO, where the genetic diagnostic in vitro test was held to be patentable ineligible.[39] It was held that the mental act of comparing gene sequences falls under the exception of abstract mental process. Besides, it also failed the à ¢Ã¢â€š ¬Ã‹Å"machine-or-transformation testà ¢Ã¢â€š ¬Ã¢â€ž ¢, which requires a particular article to be transformed into a different state or thing.[40] In short, patents for diagnostic genetic in vitro test in the US has been invalidated in this case .[41] Impact of Diagnostic Patents All these while, there has been a lot of controversy surrounding the granting of patents for diagnostic tests. In Europe, it has been argued that in vitro test should also be excluded from patentability. After all, the rationale behind the exclusion for ordinary diagnostic methods is partly due to the accessibility to health care methods, and there seems to be no reason why in vitro methods should be treated differently.[42] Thus, it is argued that in vitro method should also be governed by a similar health care concern. There are also some issues regarding whether patents for diagnostic testing are not overbroad.[43] For example, in the context of BRCA1 patents, broad claims are submitted, not only the gene sequences are claimed, but also a number of other predictive diagnostic tests, and sometimes even some gene therapy claims.[44] This seems to be categorized as reach-through claims and they could cause problems that will be discussed l ater.[45] Also, broad patents that cover almost all likely conceivable tests could stifle investment as there is no further incentive to develop and improve the tests.[46] Argument against Diagnostic Patents Research and Development Patents can have a negative impact on the development of better diagnostic tests and the research into disease, where the patented test is not widely licensed.[47] Even if it is widely licensed, royalty fees will still limit access.[48] The Institute Curie argued that the monopoly will eventually cause a loss of expertise and information among research scientists and physicians because they are prevented from improving diagnostic technologies and method, therefore not under any position to further their research.[49] For example, under Myriadà ¢Ã¢â€š ¬Ã¢â€ž ¢s superior position, it enjoys the advantage of receiving all the DNA samples from high-risk individuals and build up its genetic data bank, thus providing itself strong control over main r esearch materials, at the expense of other researchers.[50] Besides, Professor Stratton claimed that the impact of patents on research is unacceptable because most research in the private sector will not be carried out due to the fear that the commercial value of their research will eventually be owned by the company having monopoly in the diagnostic test.[51] A survey conducted among 74 laboratory physicians indicated that 48 percent have not developed a clinical test due to patents, while 25 percent put aside a clinical test they had developed after receiving letters from patent holder claiming infringement.[52] For example, testing for breast cancer, Canavan disease, Charcot-Marie-tooth disease and Alzheimerà ¢Ã¢â€š ¬Ã¢â€ž ¢s disease have been stopped because of this.[53] Besides, researchers are of the opinion that patents imposed on the use of test can undermine their activities as unknown genetic mutation could well be disclosed by diagnostic testing.[54] Moreover, in o rder to validate and extend the early discovery of a disease gene, there must be an increased clinical studies and this becomes inconvenient and high-priced when access to the patented subject-matter is restricted.[55] Also, Dr Judy Kirk claimed that genetic research would be stifled because the research study is unable to pay for the amount of genetic testing that is ridiculously priced.[56] Patient Access Patent protection can also be a great stumbling block to competition and in turn compromise the benefits that a free market can bring to the industry.[57] From a consumerà ¢Ã¢â€š ¬Ã¢â€ž ¢s perspective, patents can result in the price for the in vitro test being very expensive because the patent owner is not under any price restraints imposed by competition in the industry.[58] Another reason for the high cost is due to the need to pay for royalties for each patent, known as royalty stacking.[59] This was exactly what happened in Myriad.[60] Thus, access to the test is onl y available to those who can afford to pay the inflated price and this is definitely not in the best interest of society. Apart from this, patents would result in a single provider having a monopoly over the particular genetic test, thus disabling patients from accessing alternative testing as double confirmation or as a second opinion.[61] Patents can potentially cause the concentration of expertise to be vested in one single provider who holds the patent rights, and in turn negatively affect quality and validation, ultimately having a detrimental effect on patient access.[62] Arguments for Patents of Diagnostic Tests As we move beyond the improperly restricted view of patents, we would come to realize that there is also considerable support for patents of diagnostic methods, including in vitro methods. It must be noted that nowadays in vitro diagnostics plays an important role in providing diagnostic solutions for a huge amount of diseases, it is also the initial step in the whole treatment process, and that patents has played an important role in this.[63] Research and Development As has been argued that patents could potentially stifle research and developments in terms of health care improvement, a broad exclusion of patents could also have the same result[64] In fact, this situation is worse as it will happen at an early stage of research while innovators still need to rely heavily on venture capital to fund the years of research.[65] Moreover, the royalty fee paid by academic researchers is much lower than what is paid by commercial researchers.[66] This is in the interest of society as social cost of patents is minimized while the profits of patent holders are increased and this allows a wider market to be exploited.[67] Acknowledging the need to develop such test for health care, investments should be encouraged instead of being deterred.[68] In fact, empirical studies have indicated that exclusivity creates incentives for develop ment of diagnostic tests.[69] Moreover, innovation and invention both demand foresight, planning and organization in the employment of resources, and this arguably could not be achieved without the rights of a patent.[70] Disclosure of Information It should be noted that in the absence of patent protection, part of the know-how may never be disclosed and in turn affect cost of research for people seeking to develop such tests.[71] The rationale behind this is that no company would be willing to invest in creating a valuable database if value of the data can anyhow be acquired by competitors.[72] The SACGHS report has in fact indicated that the absence of patent protection promotes secrecy, and this is not in the interest of society because people are denied new knowledge.[73] Increased Investments It has been argued that patent protection would lead to exorbitant cost for test. However, these social costs should be tolerated as they are outweighed by the market advant age of an increased investment in innovation arising from patents.[74] This is in the public interest, thereby justifying it as having a net social benefit.[75] Besides, academic commentators have opined that high profitable returns resulting from the use of patent is what attracts investors to devote to long run commitments.[76] Moreover, without a patent system, the problem of free-riding will result in a market that undersupplies inventions.[77] The patent system focuses on correcting this market failure.[78] On a side note, in the very recent case of Ambry v Myriad, it is ruled that before Myriadà ¢Ã¢â€š ¬Ã¢â€ž ¢s patent claims has been struck down, other competing test on the market are still allowed.[79] Thus it can be seen that competition in the genetic testing market is necessary for the benefits of consumers.[80] Patient Access Despite various arguments on the negative impact of patents on patient access, evidence has shown that these patents are not really a proble m in Europe because they are generally ignored.[81] In the US, Barbara Weber has also expressed that patents such as the Myriad diagnostic patent has not in any way affected patient access.[82] It might be true that Myriad has the only clinical test, it is also the only lab which is capable of doing it right with of the resources they own.[83] On the other hand, one of the biggest problems that patients who need a diagnostic testing service have to struggle with is insurance reimbursement.[84] The patent system provides incentives for patent holders to collaborate with insurance companies and overcome this problem.[85] Besides, with regards to BRCA testing, patents have empowered patients to take control of their genetic information, considering the fact that medical establishment has limited patient access to this information.[86] Solutions Despite the potential for patents to have negative impact on various issues discussed above, there are several ways to deal with the o bjections against diagnostic patents in particular. Research Exemption Patent law in Europe has the feature of research exemption that permits researchers to use a patented material without infringing the rights of the patent holder. In fact, most countries in Europe have such provisions that achieve the same effect.[87] This also applies to both the DNA sequence and diagnostic or screening methods thus exempting fundamental research from any infringement. Therefore, the concern about patent having a stifling effect on research is theoretical, at least in Europe. However, it must be noted that exact scope of these exemption differs between countries, and such provision does not exist in the US.[88] Government Intervention While it is true that patents would cause the price of the diagnostic test to increase, acting against it predominantly for this reason will however not be an appropriate strategy because patent law is not a price regulating instrument.[89] The denial o f patent would not necessarily make the price lower even though it admittedly would do so in certain cases.[90] Thus, the more effective strategy of influencing the cost of such health care services is government intervention such as imposing maximum prices, funding and organization, as seen in many European countries.[91] Conclusion In conclusion, the patentability of gene and diagnostic methods differs in the US and Europe. Patents on diagnostic test have advantages as well as disadvantages. Nevertheless, there is sufficient evidence that the patent system has functioned satisfactorily for the dissemination of knowledge and the development of technology, and has no doubt benefited the society ultimately.[92] Therefore, any disadvantages seems to have been outweighed by the advantages discussed above. In all, the disadvantages may not be a good reason to overhaul the patent system for diagnostic tests, as these problems may also be solved by ways discussed above. [1] European Patent Convention 2000, Art 52(1) [2] ibid [3] ibid, Rule 43(1) [4] ibid, Rule 43(1)(a) [5] ibid, Rule 42(1)(c) [6] ibid, Art 52(2) [7] ibid, Art 52(3) [8] Patents Act 1977 [9] ibid, s 4A(1)(b). [10] 35 United States Code 101 [11] ibid, MPEP s 2104 [12] ibid, MPEP s 2106 [13] ibid [14] Case C-377/98 Kingdom of the Netherlands v European Parliament and Council of the European Union [2001] ECR I-7079 [15] Sven Bostyn, à ¢Ã¢â€š ¬Ã‹Å"Patenting DNA Sequences (Polynucleotides) and Scope of Protection in the European Union : An Evaluationà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2004) https://ec.europa.eu/internal_market/indprop/docs/invent/patentingdna_en.pdf accessed 4 May 2015 [16] ibid [17] ibid [18] Antamanid BPatG, GRUR 1978, as cited in Sven Bostyn, à ¢Ã¢â€š ¬Ã‹Å"Patenting DNA Sequences (Polynucleotides) and Scope of Protection in the European Union : An Evaluationà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2004) https://ec.europa.eu/internal_market/indprop/do cs/invent/patentingdna_en.pdf [19] Stephen Merrill, Richard Levin, Mark Myers, à ¢Ã¢â€š ¬Ã‹Å"A Patent System for the 21st Centuryà ¢Ã¢â€š ¬Ã¢â€ž ¢ www.nap.edu/html/patentsystem/0309089107.pdf accessed 23 April 2015 [20] Sven Bostyn, à ¢Ã¢â€š ¬Ã‹Å"Patenting DNA Sequences (Polynucleotides) and Scope of Protection in the European Union : An Evaluationà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2004) https://ec.europa.eu/internal_market/indprop/docs/invent/patentingdna_en.pdf accessed 4 May 2015 [21] Diamond v Chakrabarty [1980] 447 US 303 [22] Naomi Hawkins, à ¢Ã¢â€š ¬Ã‹Å"An exception to infringement for genetic testingà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2012) 43(6) IIC 641-661 [23] Association for Molecular Pathology v Myriads Genetics [2013] WL 2631062 [24] ibid [25] Sven Bostyn, à ¢Ã¢â€š ¬Ã‹Å"Patenting DNA Sequences (Polynucleotides) and Scope of Protection in the European Union : An Evaluationà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2004) https://ec.europa.eu/internal_market/indprop/docs/invent/patentingdna_en.pdf a ccessed 4 May 2015 [26] ibid [27] European Patent Convention 2000, Art 53(c) [28] Sven Bostyn, à ¢Ã¢â€š ¬Ã‹Å"Patenting DNA Sequences (Polynucleotides) and Scope of Protection in the European Union : An Evaluationà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2004) https://ec.europa.eu/internal_market/indprop/docs/invent/patentingdna_en.pdf accessed 4 May 2015 [29] [30] [31] Sven Bostyn, à ¢Ã¢â€š ¬Ã‹Å"Patenting DNA Sequences (Polynucleotides) and Scope of Protection in the European Union : An Evaluationà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2004) https://ec.europa.eu/internal_market/indprop/docs/invent/patentingdna_en.pdf accessed 4 May 2015 [32] ibid [33] ibid [34] USTPO, à ¢Ã¢â€š ¬Ã‹Å"Evaluating Subject Matter Eligibility under 35 USC 101à ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.uspto.gov/sites/default/files/patents/law/exam/101_training_aug2012.pdf accessed 25 April 2015 [35] Mayo Collaborative Services v Promethues Laboratories [2012] 566 US ___ [36] ibid [37] ibid [38] ibid [39] Association for Molecular Pathology v Myriads Genetics [2013] WL 2631062 [40] Case Report, à ¢Ã¢â€š ¬Ã‹Å"United States of America: Patent Act, 35 U.S.C. s.101 AMP v USPTO and Myriadà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2011) 42(8) IIC 976 [41] ibid [42] Sven Bostyn, à ¢Ã¢â€š ¬Ã‹Å"Patenting DNA Sequences (Polynucleotides) and Scope of Protection in the European Union : An Evaluationà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2004) https://ec.europa.eu/internal_market/indprop/docs/invent/patentingdna_en.pdf accessed 4 May 2015 [43] ibid [44] ibid [45] ibid [46] ibid [47] David Booton, à ¢Ã¢â€š ¬Ã‹Å"Patents for Diagnostic Tools : An Economic Analysisà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2013) 3 IPQ 187-213 [48] SACGHS, à ¢Ã¢â€š ¬Ã‹Å"Gene Patents and Licensing Practices and their impact on Patient Access to Genetic Testsà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://osp.od.nih.gov/sites/default/files/SACGHS_patents_report_2010.pdf accessed 1 May 2015 [49] Matthew Rimmer, à ¢Ã¢â€š ¬Ã‹Å"Myriad Genetics : Patent Law and Genetic Testingà ¢Ã¢â€ š ¬Ã¢â€ž ¢ (2003) 25 EIPR 20-33 [50] ibid [51] ibid [52] College of American Pathologists, à ¢Ã¢â€š ¬Ã‹Å"Statement to the Secretaryà ¢Ã¢â€š ¬Ã¢â€ž ¢s Advisory Committee on Genetics, Health and Societyà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.cap.org/apps/docs/advocacy/comments/SACGHS_comments_gene_patents.pdf accessed 28 April 2015 [53] ibid [54] David Booton, à ¢Ã¢â€š ¬Ã‹Å"Patents for Diagnostic Tools : An Economic Analysisà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2013) 3 IPQ 187-213 [55] ibid [56] Matthew Rimmer, à ¢Ã¢â€š ¬Ã‹Å"Myriad Genetics : Patent Law and Genetic Testingà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2003) 25 EIPR 20-33 [57] David Booton, à ¢Ã¢â€š ¬Ã‹Å"Patents for Diagnostic Tools : An Economic Analysisà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2013) 3 IPQ 187-213 [58] ibid [59] Naomi Hawkins, à ¢Ã¢â€š ¬Ã‹Å"An exception to infringement for genetic testingà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2012) 43(6) IIC 641-661 [60] Association for Molecular Pathology v Myriads Genetics [2013] WL 2631062 [61] Naomi Hawkins, à ¢Ã¢â €š ¬Ã‹Å"An exception to infringement for genetic testingà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2012) 43(6) IIC 641-661 [62] ibid [63] Sven Bostyn, à ¢Ã¢â€š ¬Ã‹Å"Patenting DNA Sequences (Polynucleotides) and Scope of Protection in the European Union : An Evaluationà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2004) https://ec.europa.eu/internal_market/indprop/docs/invent/patentingdna_en.pdf accessed 4 May 2015 [64] ibid [65] Christopher Holman, à ¢Ã¢â€š ¬Ã‹Å"The Critical Role of Patents in the Development, Commercialization, and Utilization of Innovative Genetic Diagnostic Testsà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://cpip.gmu.edu/wp-content/uploads/2014/04/Holman-Christoher-The-Critical-Role-of-Patents-in-Genetic-Diagnostic-Tests.pdf accessed 4 May 2014 [66] David Booton, à ¢Ã¢â€š ¬Ã‹Å"Patents for Diagnostic Tools : An Economic Analysisà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2013) 3 IPQ 187-213 [67] ibid [68] Sven Bostyn, à ¢Ã¢â€š ¬Ã‹Å"Patenting DNA Sequences (Polynucleotides) and Scope of Protection in the European Union : An Evaluati onà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2004) https://ec.europa.eu/internal_market/indprop/docs/invent/patentingdna_en.pdf accessed 4 May 2015 [69] SACGHS, à ¢Ã¢â€š ¬Ã‹Å"Gene Patents and Licensing Practices and their impact on Patient Access to Genetic Testsà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://osp.od.nih.gov/sites/default/files/SACGHS_patents_report_2010.pdf accessed 1 May 2015 [70] David Booton, à ¢Ã¢â€š ¬Ã‹Å"Patents for Diagnostic Tools : An Economic Analysisà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2013) 3 IPQ 187-213 [71] Sven Bostyn, à ¢Ã¢â€š ¬Ã‹Å"Patenting DNA Sequences (Polynucleotides) and Scope of Protection in the European Union : An Evaluationà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2004) https://ec.europa.eu/internal_market/indprop/docs/invent/patentingdna_en.pdf accessed 4 May 2015 [72] Christopher Holman, à ¢Ã¢â€š ¬Ã‹Å"The Critical Role of Patents in the Development, Commercialization, and Utilization of Innovative Genetic Diagnostic Testsà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://cpip.gmu.edu/wp-content/uploads/2014/04/Holman-Christoher- The-Critical-Role-of-Patents-in-Genetic-Diagnostic-Tests.pdf accessed 4 May 2014 [73] SACGHS, à ¢Ã¢â€š ¬Ã‹Å"Gene Patents and Licensing Practices and their impact on Patient Access to Genetic Testsà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://osp.od.nih.gov/sites/default/files/SACGHS_patents_report_2010.pdf accessed 1 May 2015 [74] David Vaver, à ¢Ã¢â€š ¬Ã‹Å"Sprucing Up Patent Lawà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1879206 accessed 1 May 2015 [75] ibid [76] Zorina Khan, Kenneth Sokoloff, à ¢Ã¢â€š ¬Ã‹Å"Institutions and Technological Innovation During Early Economic Growth : Evidence from the Great Inventors of the United States, 1790-1930à ¢Ã¢â€š ¬Ã¢â€ž ¢ (2004) American Economic Review 395-401 [77] David Vaver, à ¢Ã¢â€š ¬Ã‹Å"Sprucing Up Patent Lawà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1879206 accessed 1 May 2015 [78] David Booton, à ¢Ã¢â€š ¬Ã‹Å"Patents for Diagnostic Tools : An Economic Analysisà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2013) 3 IPQ 187-213 [79] John Conley, à ¢Ã¢â€š ¬Ã‹Å"District Court Denies Myriadà ¢Ã¢â€š ¬Ã¢â€ž ¢s Preliminary Injunction Against Ambryà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.genomicslawreport.com/index.php/2014/03/18/district-court-denies-myriads-preliminary-injunction-against-ambry accessed 27 April 2015 [80] ibid [81] Naomi Hawkins, à ¢Ã¢â€š ¬Ã‹Å"An exception to infringement for genetic testingà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2012) 43(6) IIC 641-661 [82] Matthew Rimmer, à ¢Ã¢â€š ¬Ã‹Å"Myriad Genetics : Patent Law and Genetic Testingà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2003) 25 EIPR 20-33 [83] ibid [84] Christopher Holman, à ¢Ã¢â€š ¬Ã‹Å"The Critical Role of Patents in the Development, Commercialization, and Utilization of Innovative Genetic Diagnostic Testsà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://cpip.gmu.edu/wp-content/uploads/2014/04/Holman-Christoher-The-Critical-Role-of-Patents-in-Genetic-Diagnostic-Tests.pdf accessed 4 May 2014 [85] ibid [86] ibid [87] Sven Bostyn, à ¢Ã¢â€š ¬Ã‹Å"A test too far? A Critical Analysis of the non-patentability of Diagnostic Methods and Consequences of BRCA1 Gene Type Patents in Europeà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2003) 5(4) BSLR 111 [88] https://osp.od.nih.gov/sites/default/files/SACGHS_patents_report_2010.pdf accessed 1 May 2015 [89] ibid [90] ibid [91] Naomi Hawkins, à ¢Ã¢â€š ¬Ã‹Å"An exception to infringement for genetic testingà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2012) 43(6) IIC 641-661 [92] Sven Bostyn, à ¢Ã¢â€š ¬Ã‹Å"A test too far? A Critical Analysis of the non-patentability of Diagnostic Methods and Consequences of BRCA1 Gene Type Patents in Europeà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2003) 5(4) BSLR 111

A Summary Of The US Monetary Policy Peering Into 2018

US Monetary Policy: Peering Into 2018 The fast approaching US Christmas shopping season is always a convenient juncture to review the baseline outlook for the economy and, therefore, monetary policy over the next year. Meanwhile, Congress appears to be busy formulating tax reform proposals that will ultimately be resolved by a Conference Compromise Agreement. President Trump appears keen to get tax reform passed by the end of 2017. Consequently, incoming Fed Chairman Powell may be forced to forge an appropriate monetary offset in 2018. US economic activity accelerated during 2017, partly due to a recovery in oil prices that helped to spur higher capital spending. Crucially, faster underlying growth has pushed the economy into above-trend†¦show more content†¦Should the economy fail to decelerate as supply constraints continue to mount, then ensuing rate rises will become front-end loaded than currently expected in financial markets. Fed Policy: Limited Recent Experience of Life at Full Employment Arguably, we are entering an environment where most policymakers and commentators have limited experience of an economy operating at full employment for a protracted period. Despite its critics, the Phillips Curve remains an integral part of the Fed’s econometric model of the US model. The decline in inflation, notably since 1995, has contributed to an increased incidence of flattening in the curve. Moreover, the compressing of the curve has persuaded some commentators to claim that the Phillips Curve has effectively been rendered useless as a policy guide. Their contention is that supply constraints in the labour market, as testified by low unemployment, no longer need to be heeded. The last time the US economy endured a protracted period of growth whilst at full employment was during the late-1960s. Unemployment dipped below 4% in February 1966 and remained in this territory for four years. Although the economy continued to expand, inflation accelerated from 1.9% to 6.2% at the end of 1969. Thus, the combination of full employment and continued economic growth eventually produced higher inflation, something which the FOMC was slow to respond to with

Essay On Phoenix Jackson - 821 Words

Phoenix Jackson The story â€Å"A Worn Path,† by Eudora Welty tells the story of a woman named Phoenix Jackson, who lives in Natchez Mississippi. Phoenix has a grandson that she cares for that has swallowed a chemical called lye, that was used in many households back when this story was written. Lye poisoning was common in a lot of rural areas. Welty is writing about this problem the hardship Phoenix Jackson had to go through to get medical treatment at that time. Without the name Phoenix Jackson and the characteristics, she possesses there is no way she could have overcome the obstacles that stood in her way. With the first name of Phoenix, Ms. Welty is showing the symbol of a Greek mythological bird that could live to be one hundred to one†¦show more content†¦The young white hunter assisted her out of a ditch only to belittle her and put a gun in her face (Welty). This shows great courage to endure this encounter that must have been something Phoenix had endured and witnessed her entire life. Hard work was a way of life, much like Dr. Jackson that worked tirelessly to find a cure to save the young children who had swallowed lye, it made her strong enough to face this encounter (Stang). In addition, it was hard work and agility to walk along a log to cross a creek with her eyes closed, the wisdom to shimmy under barbed wire fences without getting hung up, the endurance to go up and down hills and through hollers, and the devotion to make the trip to the Doctors office and back (Welty). Although, in her nineties Phoenix was strong and very capable to walk that worn path and do it with the dignity of a grandmother that cares about her grandson. The story tells that Phoenix was a selfless, devoted, and caring person. In addition, Dr. Jackson cared for his patients, many times using his own money for research and charity cases (Stang 17. 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Considered As A Technologically Advanced †Myassignmethelp.Com

Question: Discuss About The Considered As A Technologically Advanced? Answer: Introduction Today Japan is considered as a technologically advanced country. Its sound technology base help the nation to develop rapidly. In the past seventy years the country has made remarkable progress in growth and development perspective. The country possesses a strong manufacturing and service sector. These two sectors are two main pillars of the economy. External sector in Japan is also string enough to support the growth path of the nation. Present paper has made a brief analysis on how the economy in Japan has performed in the last few years. Evaluation has been made on overall production performance of the economy. In addition inflation and unemployment trend over the past several years has been taken for consideration. Production Output Performance Analysis GDP Gross domestic product or GDP is an aggregate measure of countrys overall production or output. It is the monetary values of all goods and services produced in the economy in a particular economy. To calculate the values of goods and service in monetary terms either current market prices or base year price are used. The former is called nominal GDP while the latter is known as real GDP (Tachibanaki, 2016). Figure 1: Yearly GDP values Japan (Source: tradingeconomics.com) Gross domestic product in Japan recorded as 4939.38 billion USD in the year 2016. GDP records its highest value in 2012. Total values of domestic goods and services in that year was 6203.2 billion. Japan accounts almost 7.97% of world GDP. The average national income in the last 40 years in Japan is 2656.84 billion USD. The lowest value recorded in 1960. From then GDP is more or less increasing in Japan as shown by the statistics. GDP growth rate Growth in GDP measures the output growth in the economy. Growth output expresses the change in GDP between two consecutive years as a percentage of the first year. Is is also considered as economys growth rate as it measures the growth of output and hence income in the economy overtime. Figure 2: GDP growth rate in Japan (Source: tradingeconomics.com) Japan economy is considered as fourth largest world economy. It is a diversified economy with making remarkable progress in advanced technology. Being a developed country the the contribution of service sector is highest in GDP composition. The share of service sector in GDP is nearly 62%. Thus, maximum growth contribution in the economy is coming from service sector. Within the service sector retail and wholesale trade is considered as most important. The next important sector in Japan in manufacturing with making a 22% contribution in GDP (Angelini et al, 2015). Construction is also an important sector in the economy GDP per Capita analysis Per capita GDP is a measure of average income of the nation. Per capita GDP is obtained when GDP of an accounting year is divided by the population of that year. Since GDP is used as a measure of countrys output performance, Per capita GDP also used as a measure of average productivity of the nation. Higher the average income or productivity, higher is the living standard in the economy. Figure 3: per capita GDP in Japan (Source: tradingeconomic.com) Per capita GDP in Japan has more or less increased overtime. In 2007 per capita GDP was 46687.3 billion. This became 47606.7 billion in 2016. In 2009 per capita GDP fell to record its lowest amount. The figure of per capita GDP stood at 42724.5 billion. The downturn in the economys average income is explained by the global financial crisis in 2008. Government measure to achieve output performance Government uses monetary and fiscal policy tool to achieve targeted economic growth. The direct tools of fiscal policy include direct and indirect taxes, government expenditure in different sectors of the economy and government debt. The instruments of monetary policy are government regulation, availability of credit in the economy and its cost. In Japan ministry of finance takes major initiatives to achieve economic growth in the postwar period. The finance ministry adapts growth first approach. A high proportion of government fund is allocated to accumulation of capital. This policy is accompanied with a low overall government expenditure for the economy. By following this policy the government aims at keeping both the deficit and tax rate as low as possible. In addition, this will make more investible fund available for the economy. Japanese generally put a significant part of their income in saving account. The fiscal policy of Japanese government focuses on formulation of national budget. The national budget is constructed under the the regulation of finance ministry. For each financial year the sector prepares an expenditure budget. In the budget, tax adjustment and net revenue calculation is done by Tax department of the finance ministry. The finance ministry also issues bond, controls borrowing of the government, arranges investment and loan program and other financial responsibility of the government. The fixed investment on loan and infrastructure including both private and public enterprises accounts 15% of gross national product. Approximately 84.7% of the government revenues are collected from different taxes in the nation. A progressive tax rate prevails in Japan (Dore, 2013). In order to improve industrial output Japanese government has adapted complicated set of policies for industrial development. The policies of Japanese government mostly related to labor markets, promotion of trade and providing tax incentives to investors. Labor Market Analysis Types of Unemployment Unemployment is a state when some existing and potential labor in the labor force fail to find job. The labor market of any economy always contains unemployed persons. However, there are different reasons for unemployment in the economy. Following are different types of unemployment that prevails in an economy. Structural unemployment: Structural unemployment resulted from structural factors. Often industry changes their structure to enhance productivity. Labors who are in incompatible in the new structure become unemployed. Cyclical unemployment: This is another common type of unemployment. Economy goes through different phases of business cycle. In the depression phase there is an economy wide depressed demand affecting production and employment opportunities. Unemployment thus resulted from a business cycle fluctuation is known as cyclical unemployment (Harris, 2015). Frictional unemployment: Economic bottleneck causes frictional unemployment. In times of inter industry job switching people remain unemployed for a certain time period. Disguised Unemployment: In certain sectors, there are people who are though employed but do not make any marginal contribution. This is called disguised unemployment. Agriculture is the sector where this type of unemployment mostly prevalent. Unemployment trend in Japan Figure 4: inflation trend in Japan (Source: data.worlodbank.org) In June 2017, unemployment rate in Japan records a 2.8% fall. The unemployment rate in the previous month was 3.1%. The figure stood below 3 percent. This is accounted as reaching below a 23 years low level from the months of February to April in 2017. In addition, the ratio of job creation to its applicants is greater greater than 1. This indicates more jobs have been created in the economy and thus reduces unemployment. The ratio now stands as 1.51 as compared to 1.49% in the previous year. Government measure to achieve full employment In Japan, steady economic growth is viewed as a solution to unemployment problem. Poor economic performance mostly affects the young population. The young population in japan are suffering from lack of training program/. To address this issue Japan government has arranged training program for them. Female employment is very low in Japan. In total employed people the percentage of female employment is only 48.9% (Lockwood, 2015). Full utilization of female labor force will benefit the economy with more creative ideas. Generally, 80% of female employees take leave for their childcare. Among them only 40% continues their job with first child. The female proportion in the managerial post is lower as compared to international standard. In order to improve the situation of female employment new legal framework has been designed by the government that allows 30% female employment in higher post. The government also make arrangement for childcare facilities so that females can continue their participation in the labor market. In times of recession recovery phase government changes its labor market policies to ensure full employment in the economy. The movement towards a flexible labor market has been made in order to reduce frictional unemployment in the economy. This aims at allowing them a smooth switching of their jobs. To resolve the problem of youth unemployment incentives care given to large companies for hiring newly joined members of the labor force. Program has been conducted to extend further support to newly graduates and young people in the society. Comprehensive support program has been arranged by the government. Price Level Analysis The gradual rise in general price level is called inflation. The stability or instability of price level is indicated by the rate of inflation in the economy. Inflation trend Figure 5: inflation trend in Japan (Source: data.worldbank.org) In June 2017, consumer prices rose at a rate of 0.4%. The figure matches with the statistics of two previous month. The price level for food is at a stable level while that of housing and transport fell. In the previous year, food prices rose at a rate of 0.8. the inflation rate for fish and sea good is is maximum. On the other hand, prices for fresh vegetables fall. Corte inflation rate in the economy has gone up 0.4% excluding food prices. In 2015, the figure reached its maximum. When computed on a monthly basis it shows the average consumer prices were flat. Tokyo accounts a 0.1% rise in its consumer prices. Core inflation rate in Tokyo is averaged at 0.2% (Campbell, 2014). Causes of inflation Price increases either due to the forces coming from demand side or from the supply side. When price rises due to components of demand, it is called demand pull inflation while inflation from the supply side factors are called Cost-push inflation (Mankiw, 2014). Demand-Pull inflation A rapid rise in aggregate demand generally forces price up. Rising demand at an unusually high rate creates a positive output gap. The scarcity of output givers upward pressure on price. Cost-Push inflation In the phase of increasing production cost producers increases price of their product to recover cost. Cost-Push inflation resulted increase in direct and indirect cost of the producers. Government measure to achieve Price level stability Price stability is a key policy objective of Bank of Japan (BOJ). Before taking measures of price stability, the term should be well defined. In Japan, Consumer prices are used to measure the stability of price level. Core inflation rate that exclude the basket of fresh food is the primary measure of inflation in Japan. Unlike many other developed countries BOJs inflation does not include energy prices. In price stability front BOJ sets its stable range between 0 and 2. The main policy of BOJ is increase in interest rate (Ishikawa Wall, 2015). BOJ has further stressed that economic situations including movements in prices is respondent to interest rate. The board of monetary policy makes its semi-annual growth rate and the movement in consumer price Index to a moderate level. To handle deflation in the economy central bank in Japan devises ease monetary policy either by increasing the money supply or reducing the interest rate. Conclusion The above discussion gives a brief overview of economic performance in Japan. For analysis purpose GDP, growth of GDP, per capita GDP, inflation and unemployment trend has been taken into consideration. The moderate GDP values indicate well output performance of the economy. Along with this, GDP growth rate and per capita GDP is also improving in the economy. With substantial government measure the country is also achieving its target of full employment. The active measure of bank of japan helps the economy to maintain stability bin the price level. References Angelini, P., Clerc, L., Crdia, V., Gambacorta, L., Gerali, A., Locarno, A., ... Vl?ek, J. (2015). Basel III: Long?term Impact on Economic Performance and Fluctuations.The Manchester School,83(2), 217-251. Campbell, J. C. (2014).How policies change: The Japanese management and the aging society. Princeton University Press. Data.worldbank.org. Retrieved 2 August 2017, from https://data.worldbank.org/country/singapore. Dore, R. (2013).Taking Japan seriously: A Confucian perspective on leading economic issues. AC Black. Harris, J. M. (2015). New macroeconomics teaching for a new era: instability, inequality, and environment.European Journal of Economics and Economic Policies,12(2), 236-242. Ishikawa, T., Wall, R. (2015). Significance of Constructing City Systems in Regional Policy. InFirms Location Selections and Regional Policy in the Global Economy(pp. 281-288). Springer Japan. Lockwood, W. W. (2015). Economic Development of Japan. Princeton University Press. Mankiw, N. G. (2014).Principles of macroeconomics. Cengage Learning. Tachibanaki, T. (Ed.). (2016).Labour market and economic performance: Europe, Japan and the USA. Springer. Tradingeconomics.com. Retrieved 2 August 2017, from https://tradingeconomics.com/singapore/labor-force-participation-rate