economic waste
economic waste. Overproduction or excessive drilling of oil or gas. [Cases: Mines and Minerals 78.1(11), 92.53. C.J.S. Mines and Minerals §§ 268, 364.]
Search Results for: ECONOMIC WASTE
incentive to disclose theory
incentive-to-disclose theory. Patents. The economic theory justifying the grant of patent rights based on the social benefit of having the information enter the public domain. • Without the incentive, the argument goes, the technical advancements would remain trade secrets and the duplication of research efforts would be a waste to society. Cf. INCENTIVE-TO-COMMERCIALIZE THEORY; INCENTIVE-TO-DESIGN-AROUND
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reclamation
reclamation (rek-l[schwa]-may-sh[schwa]n), n. 1. The act or an instance of improving the value of economically useless land by physically changing the land, such as irrigating a desert. [Cases: Waters and Water Courses 222. C.J.S. Waters §§ 763–765.] 2. Commercial law. A seller’s limited right to retrieve goods delivered to a buyer when the buyer is