Examlex
If an asset is specific, then the transaction costs of selling access to the brand or product knowledge to a third party may be very high.
Politics
The activities associated with governance, or the debate and conflict among individuals or parties having or hoping to achieve power.
Pendleton Act
A federal law enacted in 1883 that established that positions within the federal government should be awarded on the basis of merit instead of political affiliation.
Spoils System
A practice where a political party, after winning an election, gives government jobs to its voters as a reward for working toward victory.
Pendleton Act
A United States federal law enacted in 1883, establishing that government jobs should be awarded based on merit rather than political affiliation.
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