Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property

Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property

Introduction

Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property cover three ethical issues regarding marketing, advertising and intellectual property. The relation of drug companies regarding “Direct to Consumer” highlighted. Furthermore Compounding Pharmacies under the Scheme of FDA focused. The use of Colberian intellectual property in PharmaCARE highlighted. There are US laws as to identify the protection of intellectual property. There are three ways suggested for the nation of Colberia and compensation of the company. There is a pharmaceutical company example as to identify the Legal and Ethical Considerations in the real world. The relationship between PharmaCARE and WellCo shareholders is a matter of issue that needs to be focused in further discussion. Besides this while wrapping up the discussion the PharmaCARE and its brand is centre of attention and recommendations regarding the legal and ethical changes that need to be incorporated in PharmaCARE are to be highlighted in the concluding part.

Discussion

1Ethical Issues relating to marketing and advertising, intellectual property and regulation of product safety

Ethical and legal considerations prevail in the society of the marketing of the product, for the safety of the product and for the intellectual property. There is a close relation between ethics and law; ethics deals with the concerns of the society as a whole. The marketing ethics focused by the modern technology it includes the intellectual property ownership. The emerging issues in ethical and legal consideration are false claims to obtain profit for the organization (Pearson Education, 2009). In this regard marketing and advertising, intellectual property and regulation of product safety are the ethical principles that captured by company policy and that need to be examined in the pharmaceutical industry.

Ethical Issues regarding marketing and advertising

The pharmaceutical companies authorized in selling the product in the market. The marketing and advertising ethically acquired in order to purchase and supply of medicine legally in the market. Illegal means in selling the medicines or substandard medicine create an awful reputation of the organization. The ethical issues relating to the marketing and advertising of PharmaCare incorporate the benefit gained from low income consumers by the pharmaceutical firm in the form of providing free and discounted drugs to the consumers. The PharmaCare launch of a product has focused on the strategy of “We CARE about YOUR World®”. It captures the human friendly environment as the packaging of the product changed, and they have adopted the marketing mix strategies as to adopt the green initiatives it includes the equalization of greenhouse gases from the gas produced via tree cutting, cars and cleaning from the dirt places. So in this way they have adopted the strategy of caring the citizen by launching a new product and services in the pharmaceutical industry (Myers, 2009).

Ethical Issues regarding intellectual property

The ethical issues regarding intellectual property depicts that the firm is the property of the employer and the employees that work in an organization are the workers ...