Law - IP, Business Entity and Foreign Corruption



Law - IP, Business Entity and Foreign Corruption

Question 1

Answer

In this case, the general partnership form of business would be suitable for Hades and Sidekick. General partnership is that kind of business which is mainly owned by two or more people. All have one common goal of profit. However in such form of partnership or business, the profits, liabilities and other management duties are classified equally among all the partners. Unequal sharing can also be assigned but it has to be documented.

This form of business that is general partnership is opted for Hades and Sidekick because both the members have specified importance. Hades is talented in work and Sidekick, though have less experience but have the intellectual skills and also have planned the financial requirements for the business. They will both share equal profits between each other also. The following advantages in their case (SBA, 2013):

Ease of formation and affordability

Partnerships or General partnerships are usually inexpensive and easily formed structure of business. The time that is required to form general partnership is the time required within the partners to form the agreement (SBA, 2013).

Mutual Financial commitment

In such form of business or partnership, each of the partners is equally invested in the success of the business. Pooling resources is also one of the advantages to achieve the capital. This can be useful with respect to securing the credit or by normally doubling-up the invested money (SBA, 2013).

Skills

This kind of business form, should take the benefits of the skills and experiences of all the partners, which shall be beneficial for the company (SBA, 2013).

Incentives for Partnership Employees

This form of business has the advantage over other entities because the employers can be offered to become the partners if they have the required talent and expertise. The Incentives in this partnership can attract the highly encouraged and qualified employees (SBA, 2013).

Question 2

Answer

It is important to understand the basics for intellectual property law for businesses and entrepreneurs to best protect the hard-earned creations and concepts from unfair competition. All Saints is entitled to copyright and trade secret type of intellectual property because the caskets were previously sold by the Undertakings Inc, and also the sales representative who decided to form new company would have personal information and links regarding the customers. Four types of intellectual property that can be deployed to protect the business (Ehmke, 2002).

Copyrights

Copyright ensures to protect the works of main founder such as music, software or literature. As the holder of a copyright, organizations have all the rights to reproduce and distribute the work. A copyright is there from the time when the work or product etc. is founded or made, so registration in voluntary. Before copyrighting it is necessary to register with the U.S copyright office (Ehmke, 2002).

Patents

A patent grants the rights of property on innovation (invention), permitting the patent holder to cut others from rebuilding, selling or utilizing the same invention. The patent is achieved by filling the application ...