How would you address the issues of protecting your ip

Reference no: EM133525429

Assignment: Business and Finance Paper- Intellectual Property Priorities

Intellectual property (IP) is a significant asset for most companies. Patented products and processes often enable the company's very existence. IP must be managed and protected in line with the fundamentals and mission of a company's business and with the requirements of IP law.

Review Business Ethics Flashpoint: Creator/Consumer Balance (located at the end of the e-book section on intellectual property, on page 196 (E-book p. 82)). This section of the text portrays negative actions by pharmaceutical and healthcare companies, but there have also been positive examples during the Covid-19 pandemic as companies set aside competitive interests to provide testing, equipment, and research in a more collaborative manner.

The primary balance remains the same: the rights and interests of the creator of the intellectual property compared to the needs of the consumers of the product.

Task

If you were the CEO of a pharmaceutical manufacturer that had spent many years and millions of dollars in creating, developing, testing, and getting government approval for a new drug, how would you address the issues of protecting your intellectual property while meeting the patient/public needs for that drug?

Consider, e.g.:

1. Profit and return on investment for company owners/shareholders
2. Protecting intellectual property of the company
3. Needs of patients, practitioners, and society
4. Biblical support and guidance for your positions
5. Any other legal and ethical concepts you believe may be relevant.

Reference no: EM133525429

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