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PATENT: The guaranteed ownership and control of an invention, innovation, or production technique by government for a period of time (currently 17 years). A patent gives the owner the exclusive rights to sell, market, license, or otherwise generate revenue from an invention, innovation, or production technique. Patents are designed to encourage inventions and other developments that promote technological advances. However, they are also an entry barrier and lead to market control.

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PSYCHOLOGICAL LAW

A principle of consumption behavior proposed by John Maynard Keynes stating that people have the propensity to spend a large fraction, but not all, of any additional income received. This psychological law is not so much a principle of psychology as an economic observation about consumption spending and is related to the notion of effective demand.

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APLS

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Today, you are likely to spend a great deal of time searching for rummage sales looking to buy either clothing for your kitty cats or a set of luggage without wheels. Be on the lookout for cardboard boxes.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
"Long-range goals keep you from being frustrated by short-term failures "

-- J. C. Penney, Retailer

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