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Seinfeld Economics: The Pez Dispenser & The Pick

by Linda Ghent

Entrepreneurship is the ability and willingness to combine resources into a productive enterprise.

Intellectual property rights provide control of distinct types of creations of the mind. Common types of intellectual property include copyrights, trademarks, patents, industrial design rights and trade secrets.

A trade-off refers to giving up one thing in return for something else. It implies a decision to be made with both an upside and downside of a particular choice.

 

Seinfeld: The Pez Dispenser & The Pick

Kramer invents "The Beach" cologne. Jerry tells him to run it by a guy in marketing at Calvin Klein, and Kramer does. The guy scoffs at the idea, but CK begins producing a cologne called "The Ocean." Without a patent, Kramer is powerless to seek recourse, but the folks at CK offer him a modeling contract, essentially in exchange for his silence.

from Seinfeld, Seasons 3 and 4 (1992)
Creator: Larry David & Jerry Seinfeld
Posted by Linda Ghent
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