A study by Daniel Okimoto at Stanford University identified five other factors: 1  The political party in power did not take the difficult steps needed to spur the economy. 2  Taxes were raised in 1997. 3  Banks kept bad loans on their books, which tied up capital needed to invest in growth.
Intellectual property is the area of law that deals with protecting the rights of those who create original works. It covers everything from original plays and novels to inventions and company identification marks.atents protect an invention from being made, sold or used by others for a certain period of time. There are three different types of patents in the United States: 1  Utility Patents-these patents protect inventions that have a specific function, including things like chemicals, machines, and technology.
Legislation (or  statutory law ) is law which has been promulgated (or  enacted ) by a legislature or other governing body or the process of making it.t may be contrasted with a non-legislative act which is adopted by an executive or administrative body under the authority of a legislative act or for implementing a legislative act. Under the Westminster system, an item of primary legislation is known as an Act of Parliament after enactment.