Question

Read the following scenario:

You are the CEO of Bonner, a U.S.-based farm equipment corporation. Bonner recently announced the release of an innovative new tractor with technology based on a patented invention developed by Bonner's engineers. Bonner's vice president, who is aware of the upcoming product offering, bought 100,000 shares of Bonner stock prior to the announcement. You found out about the vice president's stock purchase on the day of the announcement.

One week after the announcement, Bonner received a letter from a German farm equipment corporation, accusing Bonner of patent infringement based on the new tractor's technology.

Bonner's board of directors asked you to assess the vice president's liability for the stock purchase and the company's options for resolving the German corporation's patent infringement claim.

Create a 350- to 525-word letter in response to the German farm equipment company in which you:

• Explain why Bonner is the owner of the invention
• Discuss the intellectual property rights owned by Bonner in the invention
• Suggest a method of dispute resolution (e.g., arbitration, mediation, litigation, WIPO dispute resolution), why that method would be desirable for resolving the dispute, and how and where the dispute resolution should be held (United States, foreign country, online, etc.).

Answer 1

1.Bonner is the owner of the new invention of the tractor that is yet to be released. This fact is proven by the scenario explaining that Bonner announced the release of an innovative new tractor with technology based on a patented invention developed by Bonner’s engineers. The vice president of Bonner had bought 100,000 shares of Bonner’s stock prior to the release of their new tractor that was invented by Bonner; therefore, the vice president must undergo a dispute resolution with Bonner.

2. Bonner’s invention is protected by patents, and the federal statutes provide for civil damages and criminal penalties to be assessed against infringers of patents, such as the vice president of Bonner. The tractor was invented by Bonner, which is the result of creativity, and Bonner has the right to apply for a patent, copyright, trademark, etc., for the new tractor, which in this case is a patent.

3.The method of dispute resolution that would be desirable for resolving the dispute is the WIPO dispute resolution method. This method would be desirable for resolving the dispute is because it also includes the mediation, arbitration, methods, as well as expedited arbitration and expert determination. The WIPO method is a non-profit, time and cost efficient alternative dispute resolution that enables private parties to efficiently settle their domestic or cross-border IP and technology disputes out of court. (WIPO, 2018). This dispute can be held anywhere in the world since WIPO stands for World Intellectual Property Organization. In this case, it is reasonable for it to be held online since Bonners is dealing with a German based farm equipment corporation.