And communications technology can make markets function more efficiently by reducing information

Asymmetries between buyers and sellers, eliminating the need for middlemen, and collapsing distance.

Technology can also increase competition and market contestability by lowering barriers to entry, re-

12* 179

Ducing the minimum efficient scale of production, and providing alternative production techniques.

Industries previously thought to be natural monopolies (utilities) can become competitive.

There are known the following main forms of international trade in the results of intellectual labour:

• trade in licences

• franchising

• engineering

• specialized contracts (leasing, contracts for the supply of complete equipment, adjustment of

Equipment, servicing and control of oversize equipment, etc.). See Figure 13.1.

Exchange of

Noncommercial

And advertising

Character

Conferences

Symposiums

Exhibitions

Presentations

International Trade in the Re sults of Intellectual Labour

1 - t “ 7 ’ f

Leasing patents of a product engineering research

Service industrial models of trademarks industrial training

Marketing brand names of complex organization of

Research and products retail production

Development know-how provision of

Design and realization and

Survey exploitation

Supply of

Complete

Equipment