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Liability Rules
Legal principles that dictate how responsibilities and damages are to be handled or compensated in cases of harm or infringement.
Bargaining
The process of negotiating the terms of a transaction or agreement between parties, often involving compromises from the initial positions.
Property Rights
The legal rights to possess, use, and dispose of assets including real property, personal property, and intellectual property.
Negatively Affects
Leads to adverse consequences or reduces the quality or performance of something.
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