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LSDefine

Simple English definitions for legal terms

incentive theory

Read a random definition: atrocious assault

A quick definition of incentive theory:

Incentive theory: The idea that when people create something new, they should be given special rights to it so that they are encouraged to keep creating. This is why the government gives patents and copyrights to inventors and artists. The goal is to help them make money from their work and to inspire them to keep making new things.

A more thorough explanation:

Incentive theory is the idea that people are motivated to do things because of the rewards they will receive. In the context of intellectual property, incentive theory suggests that creators are given exclusive rights to their work in order to encourage them to create more.

For example, when a musician writes a song, they are given the exclusive right to perform and distribute that song. This means that no one else can perform or distribute the song without the musician's permission. By giving the musician this exclusive right, they are incentivized to create more music because they know they will be rewarded for their work.

The same is true for inventors who are granted patents for their inventions. By giving them exclusive rights to their invention, they are incentivized to create more because they know they will be rewarded for their work.

incentive stock option | incentive-to-commercialize theory

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General

General chat about the legal profession.
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ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
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