Impact of limited autonomy, bargaining, and legal rights on firm's GMC application

Abstract

Genetically modified crops have various economic costs and benefits. Their significance and benefits are numerous with highly concentrated biotech seeds controlling 88-94% of all corn, soybean, and cotton production. The purpose of this market analysis research is to determine if there is any negative impact on farmer autonomy when determining the use of seed in agriculture production. Negative aspects of adhesion contracts such as autonomy loss, bargaining and legal rights, and future potential market risk should be considered; however, if a producer mitigates risk exposure and acknowledges the loss of bargaining and legal rights GM crops are often advantageous and should be implemented. The negative aspects of the contract are evaluated using market concentration analysis, patent data, legal analysis of stewardship/technology agreements, and referencing peer reviewed research.