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Rasmussen College Intellectual Property Rights Discussion

User Generated

Fvynpl0000

Business Finance

Rasmussen University

Description

  1. Competency

    Analyze the impact of intellectual property on business functions.

    Student Success Criteria

    View the grading rubric for this deliverable by selecting the “This item is graded with a rubric” link, which is located in the Details & Information page.

    Scenario

    Your U.S. based company is a new start-up and they sell packaged consumer goods from dish detergent to fabric softener to air fresheners. They want to become the one-stop-shop for all household cleaning needs. Every product is guaranteed to be organic, sustainable, environmentally friendly, and will cost only $4.50 each. You work in the legal department and are assigned the duty to research what it will take to protect the company’s intellectual property rights; specifically, a trademark for their logo.

    Instructions

    Prepare a flowchart in Microsoft Word for the given business situation that analyzes the impact intellectual property has on various business functions. Address the following using full detail and text within the flowchart:
    • Start the flowchart by identifying the different intellectual property opportunities available to the company (such as registering trademarks, trade secrets and patents) and the process a company needs to undertake to secure its rights to those assets.
    • Next, include in the flowchart the requirements to maintain intellectual property protections (such as renewal efforts) under federal, state (students should use their own state of residence regulations) and international laws as well as any other practical measures the company should undertake to protect their intellectual property rights.
    • Provide a summary to the flowchart with an assessment of the impact of the digital era on intellectual property rights that the company needs to consider.
    • Be sure the flowchart and summary display proper grammar,spelling, punctuation, sentence structure, and APA references.

    Resources

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Explanation & Answer

Please view explanation and answer below.

1

Intellectual Property Rights

Name
Course
Professor's Name
Date

2
Flow chart
The firm in this scenario will make efforts to protect its intellectual property through
efficient application for patent, trade secret, and trademark. This is on the basis of the ideology
that the firm's business may have to protect itself from rivals that may use its business formulas,
invention...

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