BUS623 GCU Acme Inc. Legal Environment Of Business Case Study

User Generated

purevpbpb

Business Finance

BUS623

Description

Assignment Instructions

Course objectives:

  • CO1 Assess the legal environment of business.
  • CO2. Explain how ethical frameworks shape business decisions.
  • CO3 Compare forms of alternative dispute resolution.
  • CO6 Distinguish the four forms of intellectual property

Prompt:
Six months ago, Acme, Inc. received a patent on a drug that will provide immortality to all. Acme’s president has publicly stated he has no plans to market the drug. Beta, Inc. copies the drug and releases it on the market. Beta makes no profit on the sale of this drug and only charges enough to cover its costs in manufacturing.

Address the following:

  1. Identify the intellectual property implications in this scenario.
  2. Discuss how alternative dispute resolution applies.
  3. Identify the ethical dilemma faced by Acme, and the dilemma faced by Beta. Use two theories of ethical thoughts to discuss the recommended course of action by both companies.

Instructions:

  1. Write a 1500-2100 word essay using at least four credible sources, one of which is the assigned textbook in this class.
  2. Your essay must be in APA 6th edition format, and include a title page and references page. An abstract is not required.
  3. Please name your assignment file as 'lastnamefirstinitial-Midterm.
  4. Upon submission, your paper will be automatically submitted to Turnitin.
  5. You are expected to submit your final version of your essay no later than midnight EST, Day 7.

If you need further clarification, please don't hesitate to contact me.

WARNING: No more than 10% of your writing should consist of quotes from other sources. The vast majority of your work should be your own original analysis. Paraphrase what you read instead of quoting. Also, review plagiarism.org, as this shows that a paper that consists of quotes strung together is not original and is plagiarism. Using too many quotes will bump you into this category.

Grading Rubric
A rubric is provided here for your convenience that details how this assignment will be graded. Please review it carefully prior to submitting your work.

NOTE: PROVIDE IN TEXT CITATION,REFERENCES,AND NO PLAGIARISM

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Attached.

Running Head: PATENTS

1

PATENTS
Name
Tutor
Institution
Date

PATENTS

2

1. Ethics

Acme, Inc needs to have a better understanding of its legal environment to allow it to take the
necessary action against the Beta. The company needs to know the span of the business and
the legal realms which continuously influence the demands and needs of its business
community, government and consumers. The environmental approach considers the laws as a
societal arm of control that needs to always be a mirror of the society’s moral constructs
through enforcement of rules laws and necessary regulation in the production sector (Star,
2015).

For a business to start operations, it has to be granted the right of ownership of the
manufacturing process for a particular product. The formula that the company used in making
the drug needs to be patented and not disclosed to anyone without the consent of the legal
owner. According to Doherty and Purtilo (2015), the Intellectual properties are the outright
works done by a person or knowledge aimed at making the job done. Trademarks, on the
other hand, are the manufacturing process for a given product using the given conceptual
framework. When the structure is not followed, the outcome may be termed as counterfeit
thereby rendering the whole process of production illegal. One of the most critical aspects of
the trademarks is that it protects a given market segment.
Patents are legal rights granted to an inventor allowing the person to exclude any
other form of selling, making or using the particular invention for 20 years. In the United
States, the patent rights after approval protect the owner from copyrights of the same idea.
The patent holder once approved becomes the sole owner permitted to use the selected
process, product or the identified technological solution to an issue that has been developed
and registered. The other companies or individuals have to be granted permission to allow
usage of the product. The patents exist in three forms which include design patent, plant and

PATENTS

3

utility patents. The design patents protect anyone who creates a new design for a given
product. Plant patent involves protection for creating a new hybrid plant form whereas utility
patent protects anyone who invents or discovers a process, composition of any substance or a
significant or useful improvement that can be applied in making a product (Kubasek et al.,
2017). Acme, Inc. received a utility patent which protects the firm from any other usage by
another firm. The patents safeguard the company’s right on the logo used to identify the
producer from the product for a specified duration. Writing of a patent specification ne...


Anonymous
Great content here. Definitely a returning customer.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Similar Content

Related Tags