Bug Incorporated Final Paper

Bug Incorporated Final Paper - Bug Incorporated 1 Bug...

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Bug Incorporated 1 Bug Incorporated Robyn Eady, Dearon Grey, Rosa Flores, Stephanie Roberts, Amy Smith, Tiffanie Whitaker University of Phoenix Business Law BUS/415 Instructor: Richard Alexander, Esq. September 21, 2009
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Bug Incorporated 2 In today’s business environment in order for a company to grow expanding its customer base overseas has become common place. Many companies discover how important staying competitive is, and globalization is the key to growth. The most economical way to accomplish this task is to expand the business into foreign countries and become more internationally known. This assignment will discuss the process of expanding sales to international markets by an electronic company called Bug Inc. Many times global expansion is not an easy process and issues can occur causing legal problems. Bug Incorporated Intellectual Property Bug Inc. has a right, and a need to protect the company’s intellectual property from illegal usage for example; Lady Bug Logo, authored software, the procedures of manufacturing, and many others. Some of the most important legal elements of legal protection the company should have are as follow: Patent Protection gives the company the right to prohibit other companies from making, using or selling any item originated in Bug Incorporated. People tend to confuse patent with copyright because they are similar, a patent goes into detail and a person must fill an application, where in copyright only a notification is needed. In some states an individual must complete the process through an attorney, in order to be protected. Copyright Protection is limited in regard to what can be protected under its umbrella. For example; a trademark or trade secret, could be the best way to protect the intellectual property. Copyright protection is appropriate for every other intellectual property; like keeping other agencies or individuals from claiming and gaining profit, from something they did not work toward. To protect a property under copyright, one
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Bug Incorporated 3 must pay the appropriate fine according to the state it is filed in. The next step is to send the paperwork to the Federal Copyright Office. Trade Secret protection is very important for any company. Trade Secrets can only be protected, if no one leaks the information. For Trade Secrets no formal filling is needed. If a company has taken the precautions to keep the trade secret protected, and the secret is revealed; the company has the right to proceed with a lawsuit against the person or entity that revealed the secret. The company has the right to sue under the “Uniform Trade Secret Act”. This act defines a trade secret as “Information, formulas, patterns, compilation program, device method, technique or process” that has independent economic value as a result of its secrecy. In order for a company to protect its intellectual property, they should seek legal advice, and should use a Non-compete or Non-disclosure agreement with any employee who has access to trade
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Bug Incorporated Final Paper - Bug Incorporated 1 Bug...

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