Actions a Manager should take to Identify and Protect the Tangible Property Rights of the Domestic and International Business
The manager in the business should first use different steps to identify the tangible property of the business then work towards implementing protective rights for the domestic and international business. According to Cheeseman (2016), the tangible property includes physical property such as minerals and animals. Organizations are rightfully allowed to use legal means to protect their tangible property. During the identification process, the manager should consider conducting an appraisal to determine the amount of property registered under the company name. After this determination, the manager should determine the different sources of threats, after which he should follow the legal procedures necessary for protecting the property. The legal provisions will ensure that the company protects itself from possible threats, consequently allowing it to take legal measures in case of any intrusions.
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Summary of actions a Manager in your Business should take to Identify and Protect the Intellectual Property Rights of the Domestic and International Business
The intellectual property (IP) includes copyrights, trademarks, patents, and trade secrets. The manager can set up a team to identify the company’s IP property to determine the most appropriate ways through which the property could be protected. The best way to protect the company’s trademarks and copyrights would be to be to register them with the federal government and the state government. The team will also determine the authorities responsible for doing the registration in for international business. The manager will also be responsible for applying for the patents for both the domestic and international business. Even though it is not possible to apply for trade secret protection, the manager can protect the trade secrets by limiting the number of people that can access the information or by ensuring that employees sign nondisclosure agreements.
Actions a Manager should take to Identify and protect the Organization from violating the Intellectual Property (IP) Rights of others
To avoid infringement, the manager needs to work with a team to determine what patents, copyrights, and trademarks that cover the company's products. It would be possible to do so by hiring a lawyer or legal team to invest the intellectual property applications for domestic and international business. The team will be able to determine whether the company can have potential infringement issues before investing any resources. The legal team could do a quick search to determine the competitors or companies in the same industry, evaluate where they are located, the validity of the applicable applications, and the determination of whether they can be avoided or not.
Special Problems regarding Property Rights when your Business decides to do Business outside the United States
One special problem that might arise when the business decides to do business outside the United States is to determine the intellectual property laws applicable in the external market. One of the special problems is that some jurisdictions use the first-to-file-jurisdictions. These jurisdictions provide the first company to enter their market with the privilege to use a particular trademark or an invention (Gynn, 2008). Foreign businesses in the first-to-file-jurisdictions should acquire extensive information about the applicable laws in the regions to ensure they do not break any of the intellectual property laws to avoid any form of lawsuits. For instance, they should communicate with the authorities in the foreign markets to determine the right intellectual property agreements that would fit the business.
Legal Risks associated with all Property Rights, Domestically and internationally, for your Business
Each jurisdiction has its property rights laws, which means that the law varies from one jurisdiction to another. Therefore, exposure to legal risk depends on the business applications for the company. One of the common risks includes legal disputes. Legal disputes might consist of a claim made regarding the business's tangible or intellectual property rights, which might consist of product liability. The other legal risk that the business faces is contracting risk. Such risk can bring about the possibility of financial loss that might emanate from the inadequate management of contractual obligations or benefits. Contractual risks might be attached to non-compliance to predetermined terms and might occur both domestically and internationally.
Application of the Risk management Process to mitigate the Legal Risks for your Business
The most appropriate risk management process should be proactive. In this light, it is vital for the management to create a risk management plan that will ensure that appropriate measures are in place to mitigate possible risk. The risk plans should focus on setting the scope of the possible risks, identify the legal spheres of the risks likely to be encountered, collect relevant data, and implement controls (Fisher III & Oberholzer-Gee, 2013). To ensure that this plan is effective, it will be essential to have an in-house legal counsel. The in-house counsel will be in a position of understanding the issues that would lead to the production a viable as well as a tangible solution to managing the organization's risks.
Contract Formation as it relates to its Intellectual Property and recommends one Contract Method of Contract Dispute resolution for your Business
Contract formation in the business concerning its intellectual property follows provisions of the dispute resolution clause. For the business to avoid litigation fees, the dispute resolution clause is included in the contract. The inclusion of the dispute resolution clause in the contract is one of the strategic elements that the business uses to save costly litigation fees, consequently ensuring that the business assumes the upper hand. The managers of the business use the settings outlined in the alternative dispute resolution to leverage the contract and create a favorable environment. This dispute resolution clause augments the importance of the contract law (Nimmer, 1998), thereby securing the company’s contractual relationship.
References
Cheeseman, H. R. (2016). Legal environment of business: Online commerce, business ethics, and global issues . Boston: Pearson.
Fisher III, W. W., & Oberholzer-Gee, F. (2013). Strategic management of intellectual property: an integrated approach. California management review , 55 (4), 157-183.
Gynn, A. M. (2008). Doing business outside the United States? Protect your intellectual property. Edge Strategic, 9 (1), 1.
Nimmer, R. T. (1998). Breaking Barriers: The Relation between Contract and Intellectual Property Law. Berkeley Technology Law Journal, 13 (3), 827-889.
