It is widely believed that copyrights are a must to foster cultural diversity and creativity. However, Parc argues that contrary to prevailing beliefs, imitation and copying do not restrict cultural creativity or diversity but in fact support them further. This argument has been supported by many examples such as Millet and Van Gogh, Picasso, Manet, and Monet, etc.
❏ GOODS OF SERVICES ❏
Credit (from Latin credit, “(he/she/it) believes”) is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), but promises either to repay or return those resources (or other materials of equal value) at a later date. In other words, credit is a method of making reciprocity formal, legally enforceable, and extensible to a large group of unrelated people.
The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower.