Werhane and Gorman Argue That Intellectual Property Is Hardly the Result

question 12

Essay

Werhane and Gorman argue that intellectual property is hardly the result of one company's hard work but instead is developed from a complex set of relationships that often goes back centuries and is often causally ambiguous, making it difficult to parse out responsibility. They turn to their "alliance model" to address a new mental model of approaching intellectual property and the pharmaceutical industry. Evaluate the five points to the model.

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Definitions:

Original Cost

The purchase price of an asset or service, including installation fees, transportation charges, and any other expenses necessary to make the asset operational.

Depreciation Expense

This refers to the allocation of the cost of a tangible asset over its useful life, representing how much of the asset's value has been used up during an accounting period.

Adjustment Columns

Refers to columns in a worksheet or financial statement used to record adjustments to certain accounts before preparing the final financial statements.