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Exhaustion
1. In intellectual property regimes, the transaction at which rights terminate. Under national exhaustion, rights end with first sale in a country, preventing parallel imports. Under international exhaustion, rights end with first sale anywhere, permitting parallel imports. 2. Product exhaustion.
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- Part of Speech: noun
- Synonym(s):
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- Industry/Domain: Economy
- Category: International economics
- Company: University of Michigan
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