Property Rights. Cybercrime, and Cyberpiracys impact on Domestic and Foreign Business
Introduction
Decisions regarding the use of personal, real, and intellectual property and the duties and rights which are related to these rights are major issues which confront managers in different organizations. As a result, managers must be aware of the tangible and intellectual rights as well as ways by which they can avoid violating the intellectual rights of other companies. Also, they are supposed to familiarize themselves with the legal risks which are associated with property rights not forgetting the risk management process. The managers still need to understand the contract formation and the problems they are likely to experience regarding the property rights outside the United States.
Tangible Property Rights
It is important to identify and look for means of protecting tangible property rights. As a manager, it is vital to identify the tangible properties so as to understand the rights which go with new inventions. For instance, in this case, there is the invention of Koala mattress which is a new product in the market. Tangible properties refer to anything which can be touched and moved and, thus, often referred to as chattels or personal property. After identifying the tangible properties, it is recommendable for a manager to protect them which include excluding others from using the property (Cheeseman, 2014). In this case, Koala Mattress Company can protect its product (the new mattress) from being used as well as selling the mattress.
Also, as a manager one can mark the products with a name. For instance, Koala Mattress Company should mark their mattresses with the name “Koala” which may reduce confusion with other mattresses. Apart from reducing confusion, marking of products let the people know that you are the legal owners of the tangible product. Marking is very fundamental as it protects the tangible product both domestically and internationally when it is exported to other countries.
Also, it is advisable for a manager to register the tangible product. Registering enables the easy establishment of the owner which is very important in the case of disputes. It helps settle the disputes as the real owner is in a position to point out the fact that he registered the product. In this case, the manager of Koala Mattress Company is required to register the product which may be very helpful in case of future disputes concerning the mattress.
Intellectual Property Rights
As a manager, it is fundamental to understand the requirements of the intellectual property law which will help enhance protection of the new ideas and creations from unwanted competition. Intellectual property includes all the different items that have been created by someone or a group of people who get a direct benefit from it (Menell, 2007). In this case, Koala Mattress Company can use patent and trademarks to offer intellectual property protection to their product. A patent gives property rights to newly invented products which aim at excluding others from selling, usage, and copying the invention. In the light of the patent form of protection, …
