Warm-up

Before you start reading the unit think and try to answer the following questions:

1. What do modern western economists consider the fourth factor of production?

2. What role does technology transfer play in economic development?

3. What is the role of the entrepreneurship for the development of technical progress?

What organizations are engaged in working out standards controlling and protecting technology

transfer?

Rapid Reading (skimming, scanning, reading for general understanding

Of the basic Text 13.4)

Work in pairs or small groups.

Quickly skim the text to find the information about different kinds of calculation for purchased

Licences for inventions or know-how (royalty, lump sum payments). Do not try to understand

The text in detail at this stage.

Scan the text quickly to find which part of it deals with the relations between a franchisee and

A franchiser.

Scan the text to define the types of licences.

Tell the group what information you would like to add to the given issue. Discuss it.

Basic Text. Business Oriented Scientific and Technological Progress

The 20-th century is the century of science and technological revolution. Technological advances

Made possible the efficient realisation and development of new business ideas. Knowledge is complex