Monopolies, Intellectual Property, and Competition

We had an opportunity to discuss Intellectual Property (IP) in the previous chapter when introduced to the Mixed Economy. One important element of that discussion was on the theme of property rights and new technologies. Closely aligned with that discussion is monopoly competition.

 

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Identify a company and/or industry that demonstrates monopoly competition characteristics (with or without the benefit of IP protections such as a patent) and discuss the ethical issues associated with the business practices of that company and/or industry. Are there any benefits as a result of this monopoly market?

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