Your management team sees a number of similarities between your company operations and various aspects of the LG Electronics case(attached). You are asked to research the case and then to bring the outcome up to date with recent findings in the industry at the next managerial meeting. In a PowerPoint presentation, address the following key points of the case and current legal situations that have occurred since the case was completed:
1. Was there a binding agreement between Quanta and LG?
2. Though the agreement was "well-publicized" is it binding? Does it make the contract legal? Is this a valid defense?
3. Explain in detail what constitutes the acceptance of an agreement, identifying any critical elements required and how they apply in this case.
4. Would a similar situation be in the best interest of your corporation? Explain your reasoning with recent court cases as examples.
5. What steps might your corporation take to avoid this type of situation in the future?
6. Provide recommendations for moving forward with this type of agreement to protect both parties.