Question

Ambiguous ownership of intellectual property is the central focus in this scenario. Who is the rightful owner? Why? What would be the most ethical solution? How abstract can an idea be and still be protected as intellectual property?

Answer 1

Intellectual property is a set of intangible properties or assets owned and legally protected by the company from outside intervention, implementation, or use without consent. These rights help to protect the competitive advantage of the company and provide protective rights to the physical property. The law of intellectual property refers to lose closures of the legal rules and regulations that control the different sorts of stigmas and ideas. In the intellectual property rights, the owner receives the residual level of profits that accrue from the products or assets. On the other hand, the ambiguous IR rights will be termed as a scenario where the full control over the firm and its assets are not ever guaranteed. Specifically, this scenario entails that the present owner will have to fight to maintain authority or control in every contingency.

The general rule in the intellectual property is subject to the creator of the work or the ownership holder called the rightful owner of the intellectual property. In the other case, the ownership can be transferable if the owner transferring the ownership to someone else in legal terms and conditions. The creator, or the originator of the specified work or invention presumed to own the legal rights to hold the authority to reproduce, copy, and own the creation.

The owner of the intangible asset bounded by the terms and guidelines of the legal norms of intellectual properties is considered as the rightful owner. Because, the law claims your authority in the public view, discourages the people to use someone else work without permission and helps to generate new ideas, technologies, and solutions that promote economic growth. The second most important factor to maintain a rightful owner based on intellectual rights is to encourage the creation of a wide spectrum of intellectual goods and product-lines for the customers, by utilizing the property rights to the information, intellectual goods for a limited time period in the economy. An ethical solution is to protect the interests of the creator and it values the human intellect. The ethical issues are common in life saving inventions and related to save human interests in one or other terms. For example, One pharmaceutical company finds a cure for HIV disease, and the company owns a patent for the medicine that may create some ethical issues to others, but the law protects the inventors will for a limited period of time.

The idea can be protected by the legal format of terms and conditions. The protection in the form of copyrights, patents, trademarks, trade secrets, and similar other tools to protect the idea or technology. These grant the exclusive right to the creation, especially when it oriented in terms of commercial gains and monetization. The abstract of the protection of the idea by a non-disclosure agreement with the engaging company or the other party, and be selective while disclosing the intellectual properties.