ECONOMETRICS |
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Econometrics literally means 'economic measurement'. It is a combination of mathematical economics, statistics, economic statistics and economic theory.
The two main purposes of econometrics are to give empirical content to economic theory and also to empirically verify economic theory. For example, econometrics could empirically verify if indeed a given demand curve slopes downward as economic theory would suggest. Empirical content is also given in that a numerical value would be given to this slope, while economic theory alone is usually mute on actual specific values.
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INTELLECTUAL PROPERTY - LICENSING |
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In law, intellectual property (IP) is a broad entitlement extending the concept of property beyond its materialist definitions to include information, ideas, and other intangible assets in their expressed form. Depending on jurisdiction, IP rights generally enable the holder to exercise exclusive rights over the the subject matter (or "work") of the IP using copyright, patent, trademark, industrial design right and similar legal protections. The term reinforces that such works are the product of the mind or intellect and that any rights may be protected at law in the same way as any other form of property.
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