BLaw 210 1st EditionLecture 13 Outline of Last Lecture I. Business Marksa. Trademarksb. Copyrightsc. PatentsOutline of Current Lecture d. Griswolde. WTOf. CorruptionCurrent LectureSyllabus amendments: Quiz 3 still on 10/30, Extra Credit Bonus Quiz – points added to exam 2 score, 11/4 Exam 2I. MAD ABOUT TRADE - GRISWOLDa. Import competition provides lower prices, greater variety, and better quality, especially for poor and middle class familiesb. Driven in part by Trade most new jobs are well paying service jobs that form the backbone of today's middle class (BOEING IS A GOOD CASE FOR THIS)c. Trade barriers erected in the U.S. are manipulative and harmful and their "value" is oftendeliberately misrepresented by those with economic and/or political "agendas"d. Foreign investment here has created well paying jobs and investment abroad has give U.S. companies access to millions of new customerse. Trade has helped expand the global middle class, reducing poverty and child labor while fueling demand for U.S. productsf. Over the past three decades, Trade and an open global economy have created a more prosperous, democratic, and peaceful world.g. The devastation if we reverse course? A case for new Globalization?II. W.T.O.a. The WTO aims to Increase International Trade by promoting lower trade barriers and providing a platform for the negotiation of tradeb. WTO Trade System Principle: 1. Should be free of discrimination (no preferential treatment for certain partners (MFN Most Favored Nation) domestic products, no discrimination against foreign goods and services) 2. Should tend toward more freedom by lessening trade barriers. 3. Should be predictable for foreign firms and governments; assurances that markets will remain open and that no arbitrary trade barriers be raised. 4. Tend toward greater competition. 5. Be more accommodating for developing Nations (give deference)These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.III. Dispute Resolution Mechanism. Methods for EnforcementIV. CORRUPTION DEFINED - TRANSPARENCY INTERNATIONALa. Corruption is the abuse of entrusted power for private gain.b. Corruption