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.
ACT -- Legislation enacted into law. A bill that has passed both houses of the legislature, been enrolled, ratified, signed by the governor or passed over the governor's office, and printed. It is a permanent measure, having the force of law until repealed. 1  Local act -- Legislation enacted into law that has limited application. 2  Private act -- Legislation enacted into law that has limited application.  Public act -- Legislation enacted into law that applies to the public at large.