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Literature & Language
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English (U.S.)
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Topic:

Economics of Innovation (Literature & Language Essay)

Essay Instructions:

INSTRUCTIONS:
Respond to the following questions, in an essay that addresses the topics covered in the readings. Remember, from the syllabus, you must use at least one source in addition to the readings; bibliographies are not required; cite readings in footnotes or in the text.
Prepare a short introductory paragraph outlining the topics and purpose of your brief, the body of which responds to the questions (address all of them), and a conclusion which states your own thoughts on the topic and its relevance, in the context of the economy.
ASPECTS (2) QUESTIONS:
What is meant by what one author terms, ‘network firms? What are the effects of dominant designs and standards? (You can use a firm to illustrate.)
Key technologies are protected by Intellectual property rights. What are these?
China has been recognized for its past theft of intellectual property. Explain. However, it has been equally recognized for its effect on the pace and modes of innovation in the world. Explain.

Essay Sample Content Preview:

Economics of Innovation
Student Name
Institution Affiliation
Economics of Innovation
A network firm is a firm that plays a role in promoting the dominant design of a bigger organization. Additionally, dominant designs are uniform factors which develop from technological superiority, strategic marketing and network effects. The essay purposes to reflect the effects of dominant designs and the key technologies that are protected by intellectual property rights. Furthermore, it will also touch on China’s theft of intellectual property and its role in innovation.
There are two reasons why all mobile phones look alike. If the mobile phone companies were to manufacture something completely different then the consumers would not recognize it as a phone. A dominant design has three stages. The first stage is the fluid stage. In this stage different technologies compete with each other (Eschberger, 2020). Different inventions are driven by the needs of users although they don’t know it at the time. This was the case with the Iphone. The best product catches the customer’s eye and eliminates competition. In the transitional phrase, a dominant design wins. Additionally, the players now try to meet the high demand. In this case, the players are Nokia and Apple. Nokia made smartphones that looked like Iphones in order to compete. The last stage is the specific phase. In this stage, the dominant design is firmly established in the market. Manufacturers improve the q...
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