Most scholars agree that nationalism

Most scholars agree that nationalism is a recent phenomena that could be traced back to the late eighteenth century Europe. However, most of them disagree on its definition and impact. Earlier thinkers, such as Earnest Renan sees a nation as “a soul” constituted of past memories accepted in the present by desires of people to live together. According to Renan, the past is full of ancestral heroism and devotion to glory. It is in the present that the past is brought back to life under new banners of solidarity and “a daily plebiscite.” Ernest Gellner, confirming the notion that nationalism is a modern concept, sees a connection between an industrial changing society rooted in high culture and education and the emergence of nation-sates. In his book “Imagined Communities,” published in 1991, Benedict Anderson argued that the print media played a major role under a capitalist society in the spread of “imagined political communities,” nations. Elie Kedourie regarded nationalism mostly as a European ideology influencing many parts of the world.

It is difficult to state all opinions about the definition of nation and nationalism. Few scholars share similar views and the majority of opinions differ sharply. Nationalism is not a rigid concept but rather a fluid and a dynamic one. It does not apply to all time or it belongs to any specific geographical area. It could be argued that with the advent of capitalism and the disintegration of the monarchy, nationalism has emerged on the world seen. If capitalism is to gradually fade away, nationalism will surely to follow. It is no coincidence that both of them appeared simultaneously one giving birth to the other and it won’t be a false prediction that both one day disappear.

Does nationalism in its evolution share the same traits among different cultures and nations? How do we compare the rise of nationalism in Europe versus other region of the world? The topic is undoubtedly interesting and yet hard to be covered in a short essay. If we were to accept the notion that nationalism was actually invented in Europe and then exported to the rest of world through different modes of transports, then we need to know how these imported ideas transplanted in foreign lands were received and developed. Since the emergence of European nationalism is well studied, it seems logical to shift to a less analyzed region and elaborate on the birth of nation-states in countries like Lebanon. Continue reading

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Concept of Insurance

Introduction

The journey of insurance liberalization process in India is now over seven years old. The first major milestone in this journey has been the passing of Insurance Regulatory and Development Authority Act, 1999. This along with amendments to the Insurance Act 1983, LIC and GIC Acts paves the way for the entry of private players and possibly the privatization of the hitherto public monopolies LIC and GIC. Opening up of insurance to private sector including foreign participation has resulted into various opportunities and challenges.

Concept of Insurance

In our daily life, whenever there is uncertainly there is an involvement of risk. The instinct of security against such risk is one of the basic motivating forces for determining human attitudes. As a sequel to this quest for security, the concept of insurance must have been born. The urge to provide insurance or protection against the loss of life and property must have promoted people to make some sort of sacrifice willingly in order to achieve security through collective co-operation. In this sense, the story of insurance is probably as old as the story of mankind.

Life insurance in particular provides protection to household against the risk of premature death of its income earning member. Life insurance in modern times also provides protection against other life related risks such as that of longevity (i.e. risk of outliving of source of income) and risk of disabled and sickness (health insurance). The products provide for longevity are pensions and annuities (insurance against old age). Non-life insurance provides protection against accidents, property damage, theft and other liabilities. Non-life insurance contracts are typically shorter in duration as compared to life insurance contracts. The bundling together of risk coverage and saving is peculiar of life insurance. Life insurance provides both protection and investment. Continue reading

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What Is Intellectual Propoerty

Intellectual Property And Its Pervasiveness In Industry Trade And Commerce.

What Is Intellectual Propoerty:-

Property which comes from the Human Brain and for which Government gives protection is called Intellectual Property Right(IPR). Trademark.Patent,copyright,geographical location are few examples of Intellectual Property(IP). Intellectual property has gained in prominence in many fields of business in recent times. Today, it is a major asset for many of the world’s most powerful companies. The intellectual property of a company is its legally protectable and exploitable invisible assets .It is a sub-set of assets known as “intangibles”. The term “intellectual property (IP)” refers to property in a legal sense. It is something which can be owned and dealt with. The legal rights that give rise to intellectual property are usually referred to as “intellectual property rights (lPRs)”. There are several types of IPRs that qualify as intellectual property. The most widely known lP category is patents. Other categories include copyrights, trade marks, design rights, trade secrets and plant breeders’ rights. In the emerging knowledge economy, lP has become a critical success factor for most high- It is an Intangible Asset.But the future benefits to be derived is uncertain. Hence valuation cannot be made correctly.

It has no objectivity or supporting documents unlike our accounting system which is based on objectivity.

HISTORICAL BACKDROP LEADING TO THE DEVELOPMENT OF (Intellectual Property Rights)IPRs:-

For most of the 19th century, the USA provided no copyright protection for foreign

authors; the argument was that it needed the freedom to copy in order to educate the new nation. Similarly, parts of Europe built their industries by copying the inventions of

others. The same model was followed later by Japan and even later, after the second world war, by both South Korea and Taiwan.

Today, however, developing countries do not have the luxury to take their time over lntellectual Property Rights (IPR). As a part of the trade deal hammered out nine years ago, countries joining the World Trade Organisation (WTO) also signed up to TRIPS (trade-related aspects of IPR), which include patents, copyright, trade marks, trade secrets, geographical indicators and such other items. The poor-er countries of the world were given until 2006 to comply in full with the requirements of this treaty. Continue reading

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