In your own words, summarize the article.
This article that I read over a few times focuses in on the what patents are and more specifically how they impact e-business as well as intellectual property. Understanding the concept of patents before deciding to open a business for example, is essential if you want to succeed. Patents unfortunately are only going to protect your business in the country in which you are located. Although if you have a business spread over multiple countries, you are giving yourself a larger scale of protection to your intellectual property. Therefore, e-business owners and corporate business workers have to decide where they would like to conduct business.
E-businesses are still fairly new and many laws still need to be updated to protect these types of businesses. E-businesses owners have to be more careful than traditional business owners as they are more prone to fraud and copyright infringement.
In order to have a clear chain of title for intellectual property e-business owners should have employment contracts. Having employment contract that include clauses that protect the company’s information is very important in running an e-business. These clause need to clearly state that the employer is entitled to all intellectual property developed by employee during the course of their employment (Mello, 2002).
The Business plan on Intro To Business Businesses Product Consumers
Introduction to Business Business plays a major role within our society. It is a creative and competitive activity that continuously contributes to the shaping of our society. By satisfying the needs and wants people cannot satisfy themselves, businesses improve the quality of life for people and create a higher standard of living. It is a way for individuals to provide goods and services to ...
Once patents are obtained, they can be used to keep outsiders out of the e-business space, to bargain, to produce revenue through licensing, and as collateral for potential investors. Potential investors or partner will have more confidence going into an e-business contract if there are patents in place (Mello, 2002).
LEGAL ISSUE
In 1 to 3 sentences, identify the legal business issues raised in the article.
One of the legal business issues raised in the article is monopoly that may arise because of the e-business setting. Another issue raised is the United States patent rights and terms verses international rights and terms.
MANAGERIAL PERSPECTIVE
Discuss how the legal issues affect business. For example, could the problems have been avoided? Explain. Discuss realistic solutions supported by sound legal and business principles.
Legal issues affect business by causing the business to lose revenue and assets. These problems can be avoided by having patents in place, holding employees to a contract, and being aware of different laws that protect the business. E-business often runs into trouble when it comes to international laws because the laws may be different for different countries. Business owners need to be aware of these laws prior to going into any contract internationally. Business owners should have a lawyer or law firm look over their contract before carrying it forward.
References
Mello, D. (2002).
Patents in E-Business. Retrieved from The University of Phoenix Library
