The Effectiveness of the Different Laws Used to Protect Property

question 12

Multiple Choice

The effectiveness of the different laws used to protect property rights depends on

• A)the country in which a firm wants to protect its property rights.
• B)the role of specialized state agencies in that protection.
• C)the state of the economy.
• D)the type of innovation that is being protected.

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Definitions:

Trespass to Realty

An unlawful intrusion or entry onto someone else's land or property without permission.

Landowner's Permission

The consent given by the owner of a piece of land for another party to use the land or undertake specific activities on it.

Nominal Damages

Nominal damages are a small sum of money awarded to a plaintiff in a lawsuit, acknowledging that a legal right has been violated, but no substantial harm was suffered.

Tort

A non-criminal action causing damage or injury to another party, which subjects the wrongdoer to legal accountability through the system of torts.