Stochastic Finance Assignment Example | Topics and Well Written Essays - 2500 words

Stochastic Finance - Assignment Example (a). Using Yahoo finance I settled on three companies; AAC Holdings, Inc., 1347 Capital Corp. and Alexco Resource Corp traded at NYSE, NASQAD and AMEX respectively and obtained daily closing stock prices for each company for six consecutive weeks commencing 13th April 2015 to 22nd May 2015. (see excel calculations) (b). The table in the appendix 1 also shows the results of the calculation for the logarithmic daily changes in the closing stock price for each of the three companies for six consecutive weeks. The formula; The curve shown in the graph above clearly indicates the performance in the stock markets. The daily closing stock prices for AAC Holdings, Inc, a company in the NYSE markets tends to be stable by showing a regular trend in growth over the first few weeks. The growth rate however slows down in the last weeks. As compared to the scenario in AAC Holdings, Inc, the trend here is a steady upward growth till the end. This pattern in growth however cannot be reliably adopted to predict the future state of the stock price for 1347 Capital corp. Investors without proper analysis can easily be lured to invest in such stocks since they promise high level of returns in a short time but can also drop in value drastically. Alexco Resource Corp though in a different stock market (AMEX) has the lowest stock prices with an average of$ 0.41. At this price Investors are attracted to invest but only when the trend in growth is consistent. This case proves the same as the stock prices keep on going up for the entire six week period. Inflation weakens the value of the local currency against the foreign currency in other words foreign exchange (Ross, S. 2003). A general rise in prices for most of the products means that the input prices for production of various goods and services are rising. In this case market analysts and fund managers will always consider the net impact on the margin of the entity that they are tracking. Sometimes

Critically evaluate the management of sustainability at Barclays Essay

Critically evaluate the management of sustainability at Barclays through the triple bottom line, and critically comment on the c - Essay Example The banking industry should be responsible for proper risk management, upholding business ethics and investor protection. However, their contribution to the society and environment by way of Corporate Social Responsibility (CSR) is important for a sustainable growth and development in the long run. Organizational culture and management According to Yeung (2011, p. 112) the bankers shall establish positive organizational culture and socially responsible mindset in the organization and demonstrate accountability and creditability by reducing risks and enhancing quality of service to customers and community through effective and efficient internal audit. Therefore, the bankers’ primary responsibilities of accountability and creditability are very important. The Salz Review is an independent review of certain Barclays’ processes, business practices and culture.   Anthony Salz who headed the Salz Review Team observed â€Å"Despite its turbulent recent history, Barclays ha s emerged from the financial crisis, somewhat against the odds, as one of the world’s leading banks. But this has been achieved at a cost. Significant failings developed in the organisation as it grew. The absence of a common purpose or common set of values has led to conduct problems, reputational damage and a loss of public trust† (Salz Review, 2013) During the period of financial crises there has been â€Å"disproportionate sharing of risk between employees and shareholders became apparent† (Salz Review, 2013, p. 163). The report has also highlighted absence of values, cultural inconsistencies, insufficiency of strong controls, focus on financial performance, but lack of focus on development of its people that led to conduct problems, breach of regulations, investigations, litigations and loss of public trust. Also, the report suggests that Barclays has to re-establish its purpose and values with customer focussed culture by reassessing its governance and risk management. The report concludes that it will need perseverance and consistency at all levels of leadership. (Ibid, p. 164) In response to this review report Barclays (2013b, p. 1) clearly stated â€Å"The Board is committed to implementing all of the recommendations and to publishing an account of our progress in doing so going forward† It should also be remembered that the review has appreciated many other positive aspects and stated that the problems faced by Barclays are also industry problems in some ways though Barclays is cautioned about taking comfort from this. Sustainable management and Social accounting Non-financial accounting and reporting developed over years have been founded on the principles of corporate accountability. The society provides capital, resources and patronage for the growth and development of the companies. Therefore, social and economic sustainability are fundamental for the stability and growth of the commercial organizations. Sustainability accounting seeks to quantify the effects of the contributions made by the companies by way of corporate social responsibility. Barclays published 2011 Citizenship Report, its environmental and social performance for the 12th year on 26 April 2012 (Barclaysa, 2013a). The highlights include ?63.5m invested in communities, 73,000 employees involved in fundraising activities and four per cent reduction in C02 emissions, achieved ahead of our 2013 target date. Corporate Social Responsibility forms the basis for sustainable managem

Alcohol and Energy Drinks- A literature review Essay Example for Free

Alcohol and Energy Drinks- A literature review Essay ?In recent years, researchers have begun to focus attention on an emerging trend of consuming energy drink mixed with alcohol AmED. Consumption of AmED is thought to have a correlation with high-risk behavior and negative effects on the consumer. Several research articles have examined the various facets of this practice. Some of the points of consideration that have been researched include the motivations behind consuming AmED, the effects of consuming AmED on alcohol consumption and the likelihood of engaging in risk taking behaviors after consuming AmED compared to alcohol alone. This literature review will examine the following four articles in an attempt to explore this area of research. Energy drinks are beverages that boast the ability to provide the consumer with an increase in energy. Energy drinks frequently contain large amounts of caffeine. The upper daily recommended limits for an adult in regards to caffeine is XXX. Levels of caffeine can be up to 300mg per serving. A 6oz coffee contains 100mg. The caffeine from energy drinks is known to have a stimulating effect on the nervous system. Many brands of energy drinks contain additional chemicals including plant-based stimulants (guarana and yerba mate). The effect of these on the body is not well understood as there has been little research. Simple sugars such as glucose and fructose are also found in some energy drinks. Other potential ingredients include glucronolacteone (a naturally occurring metabolite), amino acids (taurine, carnitine and creatine), herbs (Ginko Biloba and ginseng) and vitamins. In a research paper by Peacock and Bruno (2012a), patterns of use and motivations behind the consumption of AmED were examined. The focus of this investigation was to examine the motivation of participants to consume AmED through self-reporting techniques in the form of an online questionnaire. The sample of 400 participants aged 18-35 years who had reportedly consumed AmED in the past 6 months. The results of the study indicated that 75% of participants used AmED for energetic purposes, 50% reporting use to extend their stay at a public venue, 60% claimed they were motivated by situational circumstances, such as mixed drinks containing ED, 40% reported sharing AmED with a companion, 20% used AmED to mask the flavor of alcohol, 50% of the sample reported using AmED to have more fun and only 33% reported consuming AmED to get more drunk Peacock al et (2012a). In addition to taste and situational reasons, the participants in this study appeared to be motivated by functional and hedonistic outcomes. Only a small number of participants being motivated by the desire to increase the level of drunkenness or experience similar effects to elicit drugs. A study conducted by O’Brian, McCoy, Rohdes, Wagoner and Wolfson (2008), where by responses from 4,271were recorded via a web based survey. Participants who consumed AmED in the past 30 days reported consuming significantly more alcohol in a typical drinking session as well as reporting more drinking sessions than those who did not consume AmED O’Brian et al. (2008). AmEd consumers also reported episodes of weekly drunkenness and among the sample who reported consuming AmED a single drinking session consumed 36% more than students who didn’t not report consumption of AmEd. The results of Peacock et al. (2012b) indicate that although risk taking behaviors occurred during sessions of consumption of both alcohol and risk taking behavior that occurred with AmED was statistically less than the risk taking behaviors that occurred in alcohol alone sessions. However consumption of AmEd did result in higher negative physiological and psychological outcomes than those reported from consuming alcohol. Verster, Aufricht and Alford (2012), conducted a review of articles of articles relating to the consumption of AmED. It was revealed through a critique of multiple correlational studies that there are currently insufficient properly controlled studies to draw any firm conclusions regarding the effects of AmED. Conclusions reached in their report were that only a minority of the student population occasionally consumes AmED Vester (2012). Research also suggested some evidence that AmED may result in an increase in some aspects of alcohol- induced performance impairment. There is no consistent evidence that alcohol alters perceived levels of intoxication, no evidence that consumption of ED causes an increase in alcohol consumption, no direct evidence exists to suggest that ED is linked to drug and alcohol dependence or abuse. A personality predisposed to higher levels of risk taking behavior may be the primary reason for increasing alcohol and drug abuse and that AmED may be a component of that lifestyle. The literature available relating to AmED consumption is insufficient. Presently there is an insufficient amount of evidence to link the consumption of AmED to an increase in risk taking behavior, increase in consumption of alcohol or negative effects on health. To understand the true effects of AmED further research is required. To draw more concrete conclusions about the effect of AmED there is a need for more complex and properly controlled clinical studies need to be undertaken. Research design needs to explore relationships with a within subject design whereby the relationship between the ingestion of AmED and the consumption of alcohol is further explored and documented.

Exhaustion Online with regard to Database in the EU

Exhaustion Online with regard to Database in the EU Sandro Sandri   EXHAUSTION Before explaining exhaustion online with regard to database in the European  Union, we should first start by explaining what exhaustion in an Intellectual Property  context is. 1. a) Definition The exhaustion of intellectual property rights is one of the limits of Intellectual  Property (IP) Law. After a product has been sold under the authorization of the IP owner,  the reselling, rental, lending and other third party commercial uses of IP-protected goods in  domestic and international markets is protected by the principle. Once a product is covered  by an IP right, such as by a patent right, has been sold by the Intellectual Property right  owner or by others with the consent of the owner, the Intellectual Property right is said to  be exhausted. It can no longer be exercised by the owner. This limitation is also referred to  as the Exhaustion Doctrine or First Sale Doctrine. For example, if an inventor obtains a  patent on a new kind of umbrella, the inventor (or anyone else to whom he sells his patent)  can legally prohibit other companies from making and selling this kind of umbrella, but  cannot prohibit customers who have bought this umbrella from the patent owner from  reselling the umbrella to third parties. There is a fairly broad consensus throughout the  world that this applies at least within the context of the domestic market. This is the  concept of National Exhaustion. However, there is less consensus as to what extent the  sale of an Intellectual Property protected product abroad can exhaust the IP rights over this  product in the context of domestic law. This is the concept of Regional exhaustion or  International Exhaustion. The rules and legal implications of the exhaustion largely differ  depending on the country of importation, i.e. the national jurisdiction.   The paternity of the exhaustion theory is ascribed to the German jurist Joseph  Kohler.2 The word  ´exhaustion` seems, however, to have been first used by the German  Reichsgreicht in a number of judgments in the early years of the twentieth century. In a  judgment of 26 March 1902 the Reichsgericht held, for example, that the effect of the  protection conferred by a patent (i.e. the exclusive right to manufacture products covered  with regard to Database in the European Union  by the patent and to put them on the market) was exhausted by the first sale.3 In other  words, once the patent holder had transferred legal ownership of goods made in  accordance with the patent, by selling them to another person, he lost the power to control  the further destiny of those goods subsequently. 1. b) Exhaustion in the European Union   The European Court of Justice (ECJ) has taken serious steps to harmonize the rules  of a Community-wide/regional exhaustion doctrine in the field of copyright law since the  1970s. Schovsbo called the harmonization by the ECJ as 1.-phase development of  exhaustion or negative harmonization, and the creation of directives by the competent  bodies of the EEC (and later the EU) as 2.-phase development or positive  harmonization. The first-ever decision on the exhaustion of distribution rights was handed over in  the famous Deutsche Grammophon case. Here, the ECJ based its decision on different  objectives of the EEC Treaty: the prohibition of partitioning of the market, free movement  of goods, as well as the prohibition of distortions of competition in the common market.   The European Court of Justice highlighted that prohibitions and restrictions on trade  might be applied by Member States, also in cases of copyright law, if they do not constitute  a means of arbitrary discrimination or a disguised restriction on trade between Member  States6. Based upon these, the European Court of Justice concluded that [i]f a right related  to copyright is relied upon to prevent the marketing in a Member State of products  distributed by the holder of the right or with his consent on the territory of another  Member State on the sole ground that such distribution did not take place on the national  territory, such a prohibition, which would legitimize the isolation of national markets,  would be repugnant to the essential purpose of the Treaty, which is to unite national  markets into a single market. That purpose could not be attained if, under the various legal  systems of the Member States, nationals of those States were able to partition th e market  and bring about arbitrary discrimination or disguised restrictions on trade between Member  States. Consequently, it would be in conflict with the provisions prescribing the free movement of products within the common market for a manufacturer of sound recordings to exercise the exclusive right to distribute the protected articles, conferred upon him by  the legislation of a Member State, in such a way as to prohibit the sale in that State of  products placed on the market by him or with his consent in another Member State solely  because such distribution did not occur within the territory of the first Member State.7  In the EU, the principle of exhaustion of IP rights is as follows. The holder of an  Intellectual Property right loses his absolute right with the first sale in the EU territory. In  other words, the first commercialization of a good in a territory of the European Union  made by the holder of an industrial property right, or by a legitimate licensee, has as a  consequence that that good may freely circulate in Europe, and the legitimate IP holder  may not oppose the successive acts of reselling. Using the wording of the Centrafarm Case:   It cannot be reconciled with the principles of free movement of goods under the  provisions of the Treaty of Rome if a patentee exercises his rights under the legal  provisions of one Member State to prevent marketing of a patented product in said State  when the patented product has been brought into circulation in another Member State by  the patentee or with his consent Again, this is a good example of the function of the law  as a system to solve conflicts: on one side the traditional principle of territoriality of IP  rights; on the other side the aspiration to a common market in favour of international  trade. The aim of the exhaustion theory is to strike a balance between the free movement  of goods on the one hand, and the proprietors exercise of exclusive intellectual property  rights to distribute his goods on the other hand. The holder of an IP right holds therefore   the right to choose where, under which conditions and at which price his goods are put on  the market for the first time. No need to say that international exhaustion allows parallel  imports. The theory of exhaustion obviously improved in the course of time. In order to be  applicable, various conditions have to be met. It requires the consent of the legitimate  holder (consent that may be express or implied). And it also requires that the legitimate  holder receives, with the first sale, a reasonable remuneration. Depending on the  jurisdiction concerned, one often distinguishes between national exhaustion and  international exhaustion. In the European Union the term regional exhaustion is  frequently used. Regional exhaustion, in the EU member States, means that IP rights are  considered exhausted for the territory of the EEA when the product has been put on the  market in any of the EEA Member States.   Once the principle of exhaustion was established, the EU Law incorporated it in  regulations, directives and conventions. For example, art. 7 n. 1 of the First Council  Directive of 21 December 1988 to approximate the laws of the Member States relating to  trade marks (89/104/EEC states that The trade mark shall not entitle the proprietor to  prohibit its use in relation to goods which have been put on the market in the Community  under that trade mark by the proprietor or with his consent9. Art. 13 of the Council  regulation (EC) n. 207/2009 of 26 February 2009 on the Community trade mark states that   A Community trade mark shall not entitle the proprietor to prohibit its use in relation to  goods which have been put on the market in the Community under that trade mark by the  proprietor or with his consent10.   The Information Society Directive (Directive 2001/29/EC) on the harmonization  of certain aspects of copyright and related rights in the information society refers to this  principle in paragraph 28 and 29. The Directive is a little old in relation to the high speed  of technology, but is still there.11   1. c) The principle of exhaustion in EU Case Law   In Germany, the German Supreme Court (BGH) has repeatedly acknowledged the  exhaustion principle as a precautionary principle for the entire IP law (BGH, 22 January  1964, Maja Case; BGH, 10 April 1997, Sermion II Case).   In France a large number of decisions were reported to deal with the exhaustion  principle (Commercial Chamber of the Court of Cassation, 9 April 2002 n ° 99/15428,   Cass. Com., 20 February 2007, n ° 05/11088; Cass. Com., 26 February 2008, n ° 05/19087;   Cass. Com., 7 April 2009, n ° 08/13378; CA Paris, 15 June 2011, n ° 2009/12305).   In Austria the principle of exhaustion within the EU was applied even before it was  explicitly mentioned in the Austrian Trade Mark Act (Austrian Supreme Court October 15,  1996).   9 89/104/EEC First Council Directive of 21 December 1988 to approximate the laws of the Member States  relating to trade marks   10 COUNCIL REGULATION (EC) No 207/2009   11 Directive 2001/29/EC   Exhaustion Online with regard to Database in the European Union 2- DATABASE   The protection of electronic databases was first considered by the EC Commission  in the 1998 Green Paper. An initial proposal was adopted on January 29, 1992, and was  greeted, at least in the United Kingdom (which has the largest database industry in the  Community) by a considerable degree of opposition, due to the perceived reduction in  protection for many factual and numerical databases.12   Regarding the concept of database, we should say that it is a collection of  independent works, data or other materials arranged in a systematic or methodical way and  individually accessible by electronic or other means which can include literary, artistic,  musical or other collections of works or collections of other material such as texts, sound,  images, numbers, facts.13 Databases in the European Union are regulated through Directive  96/9/EC, also known as the Database Directive. It is an European Union Directive in the  field of Intellectual Property Law, made under the internal market provisions of the Treaty  of Rome. It harmonizes the treatment of databases under copyright law and the sui generis  right for the creators of databases which do not qualify for copyright.   The exhaustion principle does not allow the reproduction of data. The German  Supreme Court has confirmed this: it held that if there is extraction of a substantial part of  the database, there is no exhaustion as exhaustion covers the right of distribution and not  extraction.14 Online electronic databases cannot benefit from the exhaustion principle. The  database must have been sold. If it is given free of charge, the principle of exhaustion does  not apply. The CJEU held this to be so in the field of trademarks in Peak Holding v Axolin-  Elinor and later confirmed it in LOreal v eBay.15 There is no reason why these decisions  would not apply here by analogy as the term used in Article 7(2)(b) is sale. The same  applies to Article 5(c) in the copyright chapter of the Database Directive.   Article 7 furthermore specifies acts of temporary or ephemeral copying as  extraction.112 In contrast to the initial draft, which required a commercial intention,   12 E.C. Intellectual Property Materials, Sweet Maxwells, 1994, 1 (F) Amended Proposals of 4 October 1993  for a Council Directive on the legal protection of databases (COM (93) 464 final SYN 393) [1993] O.J.  C308/1, p. 36 13 Article 7(1) DDir (96/9/EC)   14 Marktstudien (Market Surveys), 21 April 2005, Case I ZR 1/02[2005] GRUR 940; [2006] IIC 489   15 Case C-16/03 Peak Holding v Axolin-Elinor [2004] ECR I-11313 and Case C-324/09 LOreal v eBay [2011]   ETMR 52   Exhaustion Online with regard to Database in the European Union  consent is required for loading a database into a computer RAM, as this will copy the entire  database. The consequences of prohibiting acts of temporary or even ephemeral copies   such as caching is an inconsistency between online and offline databases. Whereas an  offline database such as a CD-ROM or a smaller database technically requires RAM  storage of a substantial part, accessing a large online database normally merely requires the  copy of the entries accessed to be copied.16   Exhaustion only applies to databases in tangible format. If someone lawfully  acquired a tangible copy of the databases, the right holder will not be able to control its  resale within the European Union. However, in two cases, there will arguably not be  exhaustion. The reason is the use of the narrow word sale and resale. First, there will not  be exhaustion when the right holder gave rather than sold the database. In this case, the  right to control distribution remains. Thus, the sale of a copy of a database distributed  freely by the maker, may infringe.17 The second case is when the purchaser wishes to give  the database instead of reselling it. It seems that, in that case, the gift of the database by the  person who acquired it can also be controlled by the right holder.   It must be noted that, in a recent case, 18the Versailles Court of Appeal surprisingly  held that, for a database producer to benefit from her rights of extraction and reutilization,  she must have asserted it previously, before any infringement act is committed. The  mention of the interdiction to extract or reutilize contents from the database becomes a  condition of opposability of the sui generis right granted to the database maker by Article L.  342-2 of the IPC. The claimant lost her case since she did not make such mention on the  website she created. This decision seems to add a condition which does not exist in the  Directive. The sui generis right is not dependant on any formality.   Two German courts held that the creation of deep links is not an infringement of  the sui generis right19. This is not surprising since it is difficult to see how a deep link is an act  of extraction or reutilization.   Under Article 3, databases which, by reason of the selection or arrangement of  their contents, constitute the authors own intellectual creation are protected by copyright  16 Guido Westkamp, Protecting databases under US and European law methodical approaches to the  protection of investments between unfair competition and intellectual property concepts, 2003   17 Bently Sherman 2004, p. 303   18 Rojo R. v Guy R., CA Versailles, 18 November 2004, available on http://www.legalis.net.   19 SV on line GmbH v Net-Clipping, OLG Munich, 9 November, 2000 [2001] ZUM 255; Handelsblatt v Paperboy,   OLG Cologne, 27 October 2000 [2001] ZUM 414; BGH, 17 July 2003 [2003] Cri.   as collections: no other criterion may be used by Member States. This may be a relaxation  of the criterion for protection of collections in the Berne Convention for the Protection of  Literary and Artistic Works,[2] which covers collections of literary and artistic works and  requires creativity in the selection and arrangement of the contents: in practice the  difference is likely to be slight. Any copyright in the database is separate from and without  prejudice to the copyright in the entries.   Copyright protection is not available for databases which aim to be complete,  that is where the entries are selected by objective criteria: these are covered by sui  generis database rights. While copyright protects the creativity of an author, database rights  specifically protect the qualitatively and/or quantitatively [a] substantial investment in  either the obtaining, verification or presentation of the contents: if there has not been  substantial investment (which need not be financial), the database will not be protected  [Art. 7(1)]. Database rights are held in the first instance by the person or corporation which  made the substantial investment, so long as: the person is a national or domiciliary of a  Member State or the corporation is formed according to the laws of a Member State and  has its registered office or principal place of business within the European Union.   The holder of database rights may prohibit the extraction and/or re-utilization of  the whole or of a substantial part of the contents: the substantial part is evaluated  qualitatively and/or quantitatively and reutilization is subject to the exhaustion of rights.   Public lending is not an act of extraction or re-utilization. The lawful user of a database  which is available to the public may freely extract and/or re-use insubstantial parts of the  database (Art. 8): the holder of database rights may not place restrictions of the purpose to  which the insubstantial parts are used. However, users may not perform acts which  conflict with normal exploitation of the database or unreasonably prejudice the legitimate  interests of the maker of the database, nor prejudice any copyright in the entries. The  same limitations may be provided to database rights as to copyright in databases (Art. 9):  extraction for private purposes of the contents of a non-electronic database; extraction for  the purposes of illustration for teaching or scientific research, as long as the source is  indicated and to the extent justified by the non-commercial purpose to be achieved;  extraction and/or re-utilization for the purposes of public security or an administrative or  judicial procedure. Database rights last for fifteen years from the end of the year that the database was  made available to the public, or from the end of the year of completion for private  databases (Art. 10). Any substantial change which could be considered to be a substantial  new investment will lead to a new term of database rights, which could, in principle, be  perpetual. Database rights are independent of any copyright in the database, and the two  could, in principle, be held by different people (especially in jurisdictions which prohibit  the corporate ownership of copyright): as such, database rights can be compared to the  rights of phonogram and film producers.20   3- CONCLUSION The idea of digital first sale doctrine imploded into the mainstream copyright  discussion only a few years ago, although it has already been discussed for almost two  decades. The problem was reflected by academia, case law and legislature as well. Although  notable sources take the view that the concept of digital exhaustion deserves support, the  majority of commentators refused to accept this idea. Likewise, legislative proposals that  were submitted to the German Bundestag and the Congress of the United States, were  ultimately refused by the relevant national parliaments (or were not even discussed by them).   Under the traditional, positivist vision of copyright law, any similar ideas are condemned to  death at the moment, especially in the light of the WCT Agreed Statement. Similarly, the  CJEUs constructive interpretation of the international and regional copyright norms led to  flawed argumentation. However, significant economic, social and technological arguments  support the view that it is time to reconsider at international legislative level.   It looks like it is time to adapt the principle of exhaustion on an online perspective.  Technology goes faster than law, so when the law goes a step forward, a new problem  arises. Streaming and cloud computing are good examples. The majority of Reports  acknowledge the problems, and underline various aspects. The first is that the principle of  exhaustion of intellectual property rights was elaborated and developed in a time when  goods and services were mainly material and sold and distributed through material and  traditional channels. This approach is overturned by the new technologies. The second is  that it is no longer possible to distinguish, as far as the principle of exhaustion is  concerned, but also in general, among industrial property and intellectual property.   Copyright is expanding. The third is that it is more and more difficult to separate and  distinguish traditional industry and online industry as well as material and immaterial goods   20 Intellectual Property Law, Trevor Cook, 2010   Exhaustion Online with regard to Database in the European Union  and services. The majority of the Reports are of the opinion that on-line infringement of  intellectual property rights is normally dealt with the ordinary rules of civil procedure, and  that there is no particular necessity of elaborating new ones. The difficulties of enforcing  decisions abroad against foreign on line infringers in copyright cases are the usual ones,  common in the legal praxis when a decision must be enforced against foreign infringers.21  Dennis S. Karjalas thoughts serve as a great point to finish with. He stressed that  either we believe in the first-sale doctrine in the digital age or we do not. If we no longer  believe in it, we should discard it openly and not through verbal gymnastics interpreting the  definition of copy for the purposes of the statutes reproduction right. Nor should our  definition of copy force systems engineers into unduly intricate or artificial designs simply  to protect the right of the owner of a copy of a music file to transfer that file, provided that  no copies derived from the transferred file are retained.22   21 To what extent does the principle of exhaustion of IP rights apply to the on-line industry? Avv. Prof.   Vincenzo Franceschelli, 2014.   22 Dennis S. Karjala: Copying and Piracy in the Digital Age, Washburn Law Journal, 2013: p. 255.   Exhaustion Online with regard to Database in the European Union   BIBLIOGRAPHY à ¯Ã¢â‚¬Å¡Ã‚ · Bently Sherman 2004, p. 303 à ¯Ã¢â‚¬Å¡Ã‚ · David T. Keeling, Intellectual Property Rights in EU Law Volume 1 à ¯Ã¢â‚¬Å¡Ã‚ · Dennis S. Karjala: Copying and Piracy in the Digital Age, Washburn Law Journal, 2013 à ¯Ã¢â‚¬Å¡Ã‚ · Guido Westkamp, Protecting databases under US and European law methodical approaches to the protection of investments between unfair competition and intellectual property concepts, 2003 à ¯Ã¢â‚¬Å¡Ã‚ · Jens Schovsbo: The Exhaustion of Rights and Common Principles of European Intellectual Property Law. à ¯Ã¢â‚¬Å¡Ã‚ · Sweet Maxwells, E.C. Intellectual Property Materials à ¯Ã¢â‚¬Å¡Ã‚ · T. de las Heras Lorenzo, El agotamiento del derecho de marca, Editorial Montecorvo, Madrid, 1994, p. 47; à ¯Ã¢â‚¬Å¡Ã‚ · Trevor Cook, Intellectual Property Law, 2010 à ¯Ã¢â‚¬Å¡Ã‚ · Vincenzo Franceschelli, To what extent does the principle of exhaustion of IP rights apply to the on-line industry? 2014. à ¯Ã¢â‚¬Å¡Ã‚ · Centrafarm B.V. and Adriaan de Peijper v. Sterling Drug Inc., in 6 IIC 102 (1975). à ¯Ã¢â‚¬Å¡Ã‚ · 89/104/EEC First Council Directive of 21 December 1988 to approximate the laws of the Member States relating to trade marks à ¯Ã¢â‚¬Å¡Ã‚ · Deutsche Grammophon Gesellschaft mbH v Metro-SB-Großmà ¤rkte GmbH Co. KG. 8 June 1971, European Court Reports à ¯Ã¢â‚¬Å¡Ã‚ · Guajakol-Karbonat RGZ 51, 139. à ¯Ã¢â‚¬Å¡Ã‚ · LOreal v eBay à ¯Ã¢â‚¬Å¡Ã‚ · Marktstudien (Market Surveys), 21 April 2005, Case I ZR 1/02[2005] GRUR 940; [2006] IIC 489 à ¯Ã¢â‚¬Å¡Ã‚ · Peak Holding v Axolin-Elinor à ¯Ã¢â‚¬Å¡Ã‚ · Rojo R. v Guy R., CA Versailles, 18 November 2004, available on à ¯Ã¢â‚¬Å¡Ã‚ · COUNCIL REGULATION (EC) No 207/2009 à ¯Ã¢â‚¬Å¡Ã‚ · Directive 2001/29/EC à ¯Ã¢â‚¬Å¡Ã‚ · International Exhaustion and Parallel Importation 1 International Exhaustion and Parallel Importation http://www.wipo.int/sme/en/ip_business/export/international_exhaustion.htm 2 T. de las Heras Lorenzo, El agotamiento del derecho de marca, Editorial Montecorvo, Madrid, 1994, p. 47; F.-K.   Beier,  ´Grenzen der Erschà ¶pfungslehre im Markenrecht; zur Beurteilung des Vertriebs umgepackter und neu  gekennzeichtner Originawaren in den Là ¤ndern der Europà ¤ischen Wirtschaftsgemeinschaft.   Exhaustion Online   3 Guajakol-Karbonat RGZ 51, 139. 4 Intellectual Property Rights in EU Law Volume 1, David T. Keeling, p. 75-76 5 Jens Schovsbo: The Exhaustion of Rights and Common Principles of European Intellectual Property Law. In: Ansgar Ohly: Common Principles of European Intellectual Property Law, Mohr Siebeck, Tà ¼bingen, 2010: p. 170. 6 Case 78/70 Deutsche Grammophon Gesellschaft mbH v Metro-SB-Großmà ¤rkte GmbH Co. KG., 8 June 1971, European Court Reports, 1971: pp. 499 500., para. 5-11. Compare to Article 36 of the EEC Treaty. On the application of Article 36 of the EEC Treaty see: Nial Fennelly: Rules and Exceptions: Freedom of Movement and Intellectual Property Rights in the European Union. In: Hugh C. Hansen: International Intellectual Property Law Policy, Volume 5, Juris Publishing, Huntington, 2003: pp. 33-4 33-11. Exhaustion Online with regard to Database in the European Union 7 Case 78/70, supra note 64, p. 500., para. 12-13.   8 verbatim Centrafarm B.V. and Adriaan de Peijper v. Sterling Drug Inc., in 6 IIC 102 (1975).   Exhaustion Online with regard to Database in the European Union  

Charlotte’s Web, Goblin Market, and The Secret Garden :: Goblin Market

Charlotte’s Web, Goblin Market, and The Secret Garden Instructor’s comment: This student’s essay performs the admirable trick of being both intensely personal and intelligently literary. While using children’s literature to reflect on what she lost in growing up, she shows in the grace of her language that she has gained something as well: an intelligent understanding of what in childhood is worth reclaiming. We all should make the effort to find our inner child Certain elements in children’s literature make me feel nostalgic for the past when I lived a more carefree and perhaps careless lifestyle with my eyes and ears wide open. Now, a college student and adult struggling to juggle school, work, and future career planning, I often forget the simple things that brought me pleasure when I was a child. The stresses I have encountered while growing older—taking on added responsibilities and accumulating prejudices—have clouded my childlike, innocent, and fun view of life. This childishness, which was reawakened by reading Charlotte’s Web,â€Å"Goblin Market,† and The Secret Garden ,is something I’d like to bring to life again. I miss it, and I’m tired of repressing it just so I can appear to be a mature adult. There are some characteristics in me that were rooted in childhood and still survive to express themselves today, like my love for animals. But these are few. The majority of things I learn ed, believed, and valued as a child have escaped me and perhaps lie dormant somewhere in my subconscious. My sense of beauty and healing power in nature has diminished since I moved away from my rural childhood home, as well as my relationships with my sisters, who were more easy to get along with when I was young. I regret losing these parts of me with age, and after reading these books I wish more than ever to bring them back, because they did form who I was as a child—and everything stems from childhood. This is when I was my real self, naive at heart and innocent at play. As a child I related to Charlotte’s Web and I still do. One thing that has always concerned me is the beauty, treatment, and protection of animals. When asked why I’m a vegetarian, the words seem to flow almost from instinct: â€Å"Because I don’t believe in killing animals for our pleasure.† Being a vegetarian is particularly hard, especially when the menus in most restaurants are 90% meat. Charlotte’s Web, Goblin Market, and The Secret Garden :: Goblin Market Charlotte’s Web, Goblin Market, and The Secret Garden Instructor’s comment: This student’s essay performs the admirable trick of being both intensely personal and intelligently literary. While using children’s literature to reflect on what she lost in growing up, she shows in the grace of her language that she has gained something as well: an intelligent understanding of what in childhood is worth reclaiming. We all should make the effort to find our inner child Certain elements in children’s literature make me feel nostalgic for the past when I lived a more carefree and perhaps careless lifestyle with my eyes and ears wide open. Now, a college student and adult struggling to juggle school, work, and future career planning, I often forget the simple things that brought me pleasure when I was a child. The stresses I have encountered while growing older—taking on added responsibilities and accumulating prejudices—have clouded my childlike, innocent, and fun view of life. This childishness, which was reawakened by reading Charlotte’s Web,â€Å"Goblin Market,† and The Secret Garden ,is something I’d like to bring to life again. I miss it, and I’m tired of repressing it just so I can appear to be a mature adult. There are some characteristics in me that were rooted in childhood and still survive to express themselves today, like my love for animals. But these are few. The majority of things I learn ed, believed, and valued as a child have escaped me and perhaps lie dormant somewhere in my subconscious. My sense of beauty and healing power in nature has diminished since I moved away from my rural childhood home, as well as my relationships with my sisters, who were more easy to get along with when I was young. I regret losing these parts of me with age, and after reading these books I wish more than ever to bring them back, because they did form who I was as a child—and everything stems from childhood. This is when I was my real self, naive at heart and innocent at play. As a child I related to Charlotte’s Web and I still do. One thing that has always concerned me is the beauty, treatment, and protection of animals. When asked why I’m a vegetarian, the words seem to flow almost from instinct: â€Å"Because I don’t believe in killing animals for our pleasure.† Being a vegetarian is particularly hard, especially when the menus in most restaurants are 90% meat.

The Peaceful Cemetery Essay -- Descriptive Essay Examples, Observation

The Peaceful Cemetery    As we enter a cemetery, we might be filled with fear. We may think of dark nights and ended lives. What is a scary and dreadful place is a very meaningful place for me. This place is so meaningful to me because my grandparents on my father's side are buried there. Cemeteries are important to bringing perspective and serenity, because they bring us a connection to where we came from, help us realize the delicacy of life, and they help us to relax a little bit through their calmness. I have had so many things impact my life and they all seem to end up in the same place. Cemeteries are not the dreaded and scary things of superstitions. They are holding places for memories and faith.    My memories of Linwood cemetery are not from within the place itself but from the people it holds. It helped me realize the delicacy of life by taking many people I loved before I expected. My grandparents are buried in my most meaningful place and one of my friends from high school. My grandparents are very special because I never really had the chance to meet...

Musicandlyrics

In living life in general, music plays a very important part in our lives. Through time and history, music has not only shown the culture of man in general, but also it has shown an essential reflection of what passions has driven man through time. Music is the window of expression to what each person feels in their lives in general. As we all know, it is through music that we share our common passions and in the lyrics that we verbalize which words appeal to us. This is pretty much what the plot of the movie Music and Lyrics by Marc Lawrence revolved mostly about. How music and lyrics composition is the reflection of passions and aspirations in the life of Alex Fletcher (Hugh Grant) and Sophie Fisher (Drew Barrymore). In the flow of the story, Alex Fletcher, a former band member of a hit 80’s band is trying to relive his glory days by singing with a famous singer; Cora Carmen to advance his own career. Cora agrees to do this if he makes the perfect song that they can duet to in her upcoming album. Alex at once tries to work at the song but struggles to find the lyrics given that he himself lacks what it takes of making the perfect lines to a hit song due to lack of passion in his own day to day life. In the process of racking his brains out in finding the perfect words to a song, Sophie; his plant lady comes waltzing in Alex’s house humming the perfect words that strikes Alex’s ears. He tries to convince Sophie to work with him at once and when she helped him out in making the perfect song, she also helps him out in a much more important thing he needed help in; his very own passions in life. In the process of making the song, Alex and Sophie gets really close as the stories of their lives unravel and frustrations are poured out. With Alex’s downfall in the music industry and Sophie’s mishap with dating a guy who ends up using her character in a book which traumatizes Sophie as all her frustrations in that relationship felt like was opened to the general viewing of the public eye. In the course of all this Sophie teaches Alex what it means to truly write a story of our lives through a song. She not only helped him in coming up with the words, she also thought him how to make it the proper way, through living your own life well and writing to sing about it. Eventually they come up with the song and Cora likes it but wants to put a modern twist to the melody so she can dance to it. Sophie doesn’t think that this is a good idea since it cuts out the essence of the song, this is where things get ugly when Alex refuses to tell Cora their opinions to the modern twist fearing that she will reject the duet contract. Sophie gets disappointed in Alex given that they have already reached an intimate relationship in the course of time that the spent together. This is when Cora requests for a another verse in the song and Sophie comes up with the perfect words to describe the scenario the two lovers were caught in; â€Å"There are moments when I don’t know if it’s real or if anybody feels the way I feel. I need inspiration, not just another negotiation.† This is where Alex realizes his mistake and makes it up to Sophie by making his own song of apology to her which he sings in Cora’s concert and convincing Cora to keep the song that he and Sophie made just at it is. All in all, I think this was a feel good movie where in the reality of the politics of show business and the music industry is also reflected. It also reflected the typical day to day drama that women deal with in love and lost specially with Sophie’s role as she felt like she’s been used and betrayed by two men; her ex and at one point even Alex Fletcher. It depicts traditional roles that women still play in society these days. The erotic pleasure in film, its meaning and in particular, the control place of the image of woman will be interwoven. Mulvey, Laura † Visual Pleasure and Narrative Cinema † 1975 Although there are different depictions that may be derived from the love story of Sophie and Alex or why Alex and Sophie fell for each other, the drama of their relationship and fear for entering a new intimate relationship reflects what most of use deal with in day to day life. The perceiver may find deeper or â€Å"explicit† meaning. The perceiver decides what the core of the film is from her own perspective. While one might see the crux of Saving Private Ryan as war is hell’, another might see it as saving one saves us all. â€Å"Chapter 1A: Making Films Mean† October 7, 2007 As a viewer, I loved the story line because it once again reminded me that no matter how complicated love and life can be, people are capable of making things work. That’s the beauty of romantic comedy films, no matter how redundant the plot can get, you keep on watching it for the very same reason; it’s â€Å"feel good factor†. I also found the lyrics of   Way back into Love and its lyrics very captivating so I really felt like the movie’s title gave justice to the show. I do think that the movie was quite typical especially with the variety of different plots that are emerging in the movie industry now-a-days. It was far too predictable for a contemporary movie, but given the genre of the show, I felt like I was supposed to be typical in order to captivate its target audience. It’s the type of movie that will be fun to watch with your family friends and loved ones wherein your quality time will be maximized not only by the feel good factor of the plot but also the comedic effect of the story line. The narration and the film technique was also pretty typical given that the plot of the movie didn’t really call for anything special work with the cinematography and the likes. I found the music video’s of POP also refreshing as it took me back to a trip to memory lane with the style and music of the band.. The setting was also perfect for the plot as Alex’s apartment and the surrounding locations did fit in perfectly in making the infamous song that they had to make for Cora. I also found the set of characters for the movie and the storyline brilliantly pieced in specially matching the lyrics of the song way back into love. It was like I was being taken into a journey with Sophie and Alex as I felt like I was being part of that song that they were making. No wonder the song became a hit once the movie hit the cinemas. The storyline captured the heart and soul of the drama of life and love and pieced it in to the song that everybody is still humming to months after its release. The characters were also perfect specially with Cora who did depict your typical popular pop star in dire need to dance to any of their songs. As simple as the movie was, it was a wonderful journey to the backstage of life and music and how it fits perfectly well together. I think it would give people a deeper appreciation for music. I also think that the movie also calls for a political challenge to artists and songwriters to write more about real things in life. This is because lately I have noticed the invasion of dance songs that has just connotations of sex, rage, unhealthy self image and vices to the point that it is no longer helping ourselves and the people around us in our modern day society. Music and Lyrics I think has a lot to show and tell us if we really read into the deeper meaning of what the movie had to offer. It was also refreshing that a love story has been put in the middle to buffer the point of embracing the heart and soul of the artistry of poetry and music. I really appreciated it given that I am a music lover myself. The soundtrack is a refreshing mix 80’s songs and modern dance in line with the story’s plot. It is a must see for people ready to unwind and enjoy catering to both young and old since the music is really bound to transcend generations as it has been shown in the film. Music and Lyrics has successfully fused the best ingredients in life; Love, Drama, Life, Music and Words! Just try singing to its soundtrack with your eyes closed while recalling scenes from the film and you will know what I mean when I say the movie could reach your soul if you let it. Just like how music has for many people and generations.