MGMT 520
presentation slides
Running
Head: WEEK
1
DISCUSSION
1
WEEK 1 DISCUSSION 2
Collaboration Discussion for Legal Topic
(Group 1)
Intellectual Property
Ideally, it is important for
businesspeople
or institutions to freely exchange business
knowledge. This allows people to go further and use such knowledge to create or develop new
products used for trade. Ultimately, the real value of the developed product
s comes from the
ability of the developer to exclude other people from making such products (Davoudi, Fartash &
Sizova, 2018). This is commonly known as intellectual property or patent right. It prohibits other
traders from using or offering such products to the customers or consumers without the consent of the original developer (Zhang, Huang & Molloy, 2018). This means that it is the only developer who can enjoy the economic benefits of creating a new product. The ability to have others excluded from enjoying the economic benefit of a product provides the economic value of the patent.
One of the speakers emphasized the intellectual property laws stating that such laws prohibit any company from offering a product that it does not own its patent rights (Zhang, Huang & Molloy, 2018). The speaker went ahead to add to say that companies should not collaborate to fix the prices for the products they do not own. This means that they have no right to restrain the trade of a product they do not have its patent right. Besides, if companies are doing research, there would be little concern for intellectual property laws (Brandl, Darendeli & Mudambi, 2019). This is because companies would be able to develop their products and avoid stealing product ideas from other business organizations or individuals. Working on a speculative collaboration would lead to a breakthrough for new product development (Brandl, Darendeli & Mudambi, 2019). This means that there would be few cases on intellectual property. Besides, it would also enhance competition in product development which would, in turn, improve the quality of the products offered by companies.
In this legal discussion topic, several speakers have pointed out some of the most important solutions needed for intellectual property issues. The issues relating to intellectual property arising from the combination therapies, especially those are sponsored by more than one industry (Brandl, Darendeli & Mudambi, 2019). For example, one of the main impediments to the firms sharing cell lines and drug candidates pre-clinical was started as an intellectual property issue. Besides, other speakers stressed that rights to intellectual property are based on the clinical trials of the combinations of cancer therapies (Brandl, Darendeli & Mudambi, 2019). As a leader of this legal topic discussion group, I can say that intellectual property contracts are very complex. This is because such contracts require several numbers of variables for the final decision to be made. These variables could include the owner of the compound process and the process involved in manufacturing the compound. It could also include the owner of the data and any new indication that the owned data may stem from the collaborative research.
The parties involved in the intellectual property trial must agree on how the patents shall be enforced. They must also agree on whether the patents would be enforced worldwide or should only be focused on specific countries. As a leader of the group, I agree that intellectual properties including trade secrets should be protected. Whether the intellectual properties are patentable or not, all intellectual properties of a company should be protected (Zhang, Huang & Molloy, 2018). This means that all trade secrets must be protected under the law even if no patentable interventions are resulting from research. Having this conversation on intellectual property is very important to a business institution. This is because it helps them with an understanding of material transfers and the protection of their trademarks.
On the collaborative discussion, some speakers tool a negative view of this topic. They named it the IP fortress. From their argument, the IP fortress or negative view of intellectual property causes business organizations to attempt to maximize their value from IP and impedes sharing. In this view, the speakers agreed that intellectual property involves a legal equivalent of the companies being pound foolish or pennywise (Davoudi, Fartash & Sizova, 2018). According to their argument, this occurs because intellectual property is very counterproductive. It involves a good rule as applied in sharing to ensure that the companies do not get hung up in IP (Davoudi, Fartash & Sizova, 2018). Knowledge does not mean that the companies are competitive. Instead, it means that the companies are being precompetitive.
Other speakers took a positive view of intellectual property. One of the positive views of their collaborations was that intellectual property helps companies to have confidential agreements (Brandl, Darendeli & Mudambi, 2019). This means that all their products, transactions, and business information are kept confidential as required by the intellectual property laws. When a transaction a business activity is carried out, the parties involved are required not to share the information of the company (Brandl, Darendeli & Mudambi, 2019). This provides business organizations with the ability to continue enjoying the economic benefit of their products because no one can copy or steal their product idea. Intellectual property helps business organizations to deal with IP issues. As a result, it becomes easy for the companies to have continuous collaborative research to develop new products.
References
Davoudi, S., Fartash, K., & Sizova, Z. M. (2018). Testing the Mediating Role of Open Innovation on the Relationship between
Intellectual Property
Rights and Organizational Performance: A Case of Science and Technology Park. Eurasia Journal of Mathematics, Science and Technology Education, 14(4), 1359-1369.
Zhang, J., Huang, H., & Molloy, I. (2018). Protecting intellectual property of deep neural networks with watermarking. In Proceedings of the 2018 on Asia Conference on Computer and Communications Security (pp. 159-172).
Brandl, K., Darendeli, I., & Mudambi, R. (2019). Foreign actors and intellectual property protection regulations in developing countries. Journal of International Business Studies, 50(5), 826-846.
Zhang, J., Huang, H., & Molloy, I. (2018). Protecting intellectual property of deep neural networks with watermarking. In Proceedings of the 2018 on Asia Conference on Computer and Communications Security (pp. 159-172).
Brandl, K., Darendeli, I., & Mudambi, R. (2019). Foreign actors and intellectual property protection regulations in developing countries. Journal of International Business Studies, 50(5), 826-846.
Davoudi, S., Fartash, K., & Sizova, Z. M. (2018). Testing the Mediating Role of Open Innovation on the Relationship between Intellectual Property Rights and Organizational Performance: A Case of Science and Technology Park. Eurasia Journal of Mathematics, Science and Technology Education, 14(4), 1359-1369.
Brandl, K., Darendeli, I., & Mudambi, R. (2019). Foreign actors and intellectual property protection regulations in developing countries. Journal of International Business Studies, 50(5), 826-846.
Running Head: WEEK 1 DISCUSSION
1
Collaboration Discussion for Legal Topic
(Group 1)
Intellectual Property
Ideally, it is important for
businesspeople
or institutions to freely exchange business
knowledge. This allows people to go further and use such knowledge to create or develop new
products used for trade. Ultimately, the real value of the developed product
s comes from the
ability of the developer to exclude other people from making such products (Davoudi, Fartash &
Sizova, 2018). This is commonly known as intellectual property or patent right. It prohibits other
Running Head: WEEK 1 DISCUSSION 1
Collaboration Discussion for Legal Topic (Group 1)
Intellectual Property
Ideally, it is important for businesspeople or institutions to freely exchange business
knowledge. This allows people to go further and use such knowledge to create or develop new
products used for trade. Ultimately, the real value of the developed products comes from the
ability of the developer to exclude other people from making such products (Davoudi, Fartash &
Sizova, 2018). This is commonly known as intellectual property or patent right. It prohibits other