Gift of the patent and associated intellectual property

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Reference no: EM13967083

While working for Valles Global Industries's materials division, you invent a fabric that has an odd property: it can be cleaned by rinsing with soapy water and dries almost instantly. You consider possible uses and think about a better type of men's underwear. This underwear would have the unique property that it need not be laundered. Instead, one simply wears it into a bath tub or shower and rinses it clean. It is then dried by running a hair dryer over the surfaces for about two minutes. After some discussion, the CEO decides to give you a gift of the patent and associated intellectual property. You decide to start a business to sell this new underwear. Thus, you quit your job with Valles Global Industries and do what? Explain your approach.

For those who want to ask: Be advised that a one-page answer might get you about 10 of 100 points.

By the way, something like this has actually happened in the men's underwear business with material and fit innovations (not the "wash in the shower" feature).

Reference no: EM13967083

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