Assignment
Length: 2100 Words.
Learning Objectives:
• Assess the legal environment of business.
• Compare forms of alternative dispute resolution.
• Distinguish the four forms of intellectual property
• Evaluate forms of business associations.
PROMPT:
Gemma and James have pooled their savings to create a start-up company to develop and market an idea they conceived while students together at MIT. They obtained permission to use a college lab during late night hours a few nights a week during their last term before graduating to work on the project. Then they were able to move to James' parents' garage. Now they need more sophisticated resources. They have created a prototype robotic device that will aid first responders in disaster relief by sensing and locating survivors remotely in areas unsafe for humans and dogs to navigate. The robot's sensors will locate living beings and can scan vitals and assess level of trauma. They have mapped out both private, public civil and military applications of this invention plus continued R & D improvement into next-phase capabilities. They have not shared their theory, the prototype, their documentation or any of the associated hard and soft technologies with anyone but anticipate needing to do so to obtain a funding source. They are concerned about others learning of their technology ahead of their chance to obtain customers, because they caught a nosy classmate of theirs, Clarence, hanging around their lab.
Explain and discuss:
1. The type of business organization Gemma and James should use to organize their business entity;
2. The four types of intellectual property (IP) and which of these have application to Gemma and James' invention. Include case law that illustrates these;
3. The steps Gemma and James should take to protect their invention.
4. What recourse they might have against Clarence (or someone like him) if he has indeed obtained knowledge of their invention, and how such a dispute might be resolved using ADR.
Concepts that should be included in your essay:
• Types of business organizations;
• Legal environment of business;
• Types of IP;
• IP protection;
• Relevant methodologies and practices as illustrated by major contributors or organizations (e.g. US PTO, WIPO);
• IP litigation claims and defenses and types of alternate dispute resolution (ADR), including case law that illustrates types of ADR in practice (especially IP);
• Considerations of business management for handling IP innovation, selection of IP protections;
• Business compliance issues that Gemma and James should consider.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.