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  In some countries,  there is a  system similar to the patent system, that provides protection to so called “minor inventions” is called as a “Utility Model”. In a local innovation system, recognizing  minor improvements of existing products, which does not fulfill the patentability qualifications but  may have an important role in the  system .   Utility models  protects  such inventions through granting an exclusive right, which allows the right holder to prevent others from commercially using the protected invention, without his authorization, for a limited period of time.  Utility model systems require compliance with less stringent requirements in comparison to patents.  They have simpler procedures & offer shorter term of protection .  Detail article is available on  https://upsconline.com/utility-models/

 It forms the basis of modern thinking on capital structure. Under a certain market price process , in the absence of taxes, bankruptcy costs , agency costs & assymetric information and in an efficient market, the value of the firm is unaffected by how that firm is financed. It does not matter whether the capital is raised by selling debt or issuing stocks. It doesn’t matter what is the dividend policy of the firm. The full article is available on  https://upsconline.com/modigliani-miller-theorem-homemade-leverage/

  WE ARE ORGANISING A SERIES OF LECTURES ON "ECONOMIC SURVEY 2020-21" WITH THE PERSPECTIVE OF UPSC EXAMS. INTERESTED ASPIRANTS CAN CONTACT 7646001001, 9623466180 . SESSIONS WILL BE AVAILABLE ONLINE AND WILL BE FREE OF ANY CHARGE. 

  The U.S. wants to advance ‘interoperability’ i.e. real time cooperation with defence forces of defence partners. The U.S. has signed these foundational agreements with at least 100 countries. The General Security of Military Information Agreement or GSOMIA, and its extension, the Information Security Annex (ISA) signed in 2019, allow military technology cooperation for the sharing of classified information between governments and companies in both countries. The full article is available on our website  https://upsconline.com/the-foundational-agreements-between-india-usa/

 Both mangrove coverage loss and diversity loss go hand in hand when that landward retreat is limited by expanding cities, agriculture or flood protection works. A narrow mangrove zone is much less effective in protecting the coast against storms, or in the worst case loses its protective properties altogether. New computer simulations show how coastal forests retreat landward under sea-level rise, especially in coastal areas where mud in the water is declining. The simulations include interactions among tides, mud transport and, for the first time, multiple mangrove species. Full article is available on https://upsconline.com/triple-trouble-for-mangroves/

 During the first Indo-Pak war of October 1947, Pakistan occupied 78,114 sq km of the land of Jammu and Kashmir, including the ‘Northern Areas’.  The Northern Areas is the other name of Gilgit-Baltistan that Pakistan has used for administrative reasons because it was a disputed territory. Gilgit -Baltistan will become the fifth State of Pakistan after Sindh, Punjab, Balochistan and Khyber Pakhtunkhwa  Gilgit -Baltistan was separated from Pakistan Occupied Kashmir on April 28, 1949. It became centrally administered region. On March 2, 1963, Pakistan gave away 5,180 sq km of the region to China, despite local protests  Full article is available on our website  https://upsconline.com/gilgit-baltistan-dispute/

 According to former Secretary General of Lok Sabha, P D T Achary, there is no provision for any redaction of a CAG report, nor is there a precedent. There is no such thing under the law, under the Constitution Redaction has not happened so far, the word is new to the system.   CAG reports are submitted to Parliament & go to the PAC. Finance Minister lays them on the table of the house. PAC is assisted by the CAG; in fact, CAG can be said to be a part of the PAC setup.   Redactive pricing in the ‘Performance Audit Report of the Comptroller and Auditor General of India on Capital Acquisition in Indian Air Force (Union Government – Defence Services, Air Force, Report No. 3 of 2019)’ is the first experiment in CAG history of India.  Full article is available on our website https://upsconline.com/redactive-pricing-audit/