Question

Briefly describe the four economic functions of property rights law

Briefly describe institutions that are used to enforce property rights globally

Answer 1

The four economic functions of property rights are:

-- The right to use the property: It dictates to use the property in an approach consistent with the law.

-- The right to earn income from the property: As the private owners have an incentive to earn income from the property

-- The right to transfer the property: Owners hold the right on transferring their property to someone else.

-- The right to enforce property rights: It allows to initiate the legal steps for protecting the investment

America is a signatory on copyright to the Berne Convention. In this method each member state recognises the copyright of authors from other member states in an approach as the copyright of its own people. America, United States Patent and Trademark Office (abbreviated as USPTO) issues three ypes of patents - utlity patent, design patent and plant parent. The trade mark rights can be obtained through registration