Question

Case

Six months ago, Acme, Inc. received a patent on a drug that will provide immortality to all. Acme’s president has publicly stated he has no plans to market the drug. Beta, Inc. copies the drug and releases it on the market. Beta makes no profit on the sale of this drug and only charges enough to cover its costs in manufacturing.

What are the contributions of 6 major figures or organizations pertaining to legal, regulatory, or compliance topics affecting managers in today's marketplace AND identifies associated methodologies and practices?

Please provide 2 more major figures (Immanual Kant is an example), and 2 more major organizations (The FDA is one) and explain either the legal, or compliance issues that affect today's managers, as well as what each associated methodology and practices are.

Answer 1

A typical patent holder has the right to produce and market an invention. The patent holder also has the right to exclude others from producing and marketing the invention. In the case of the Acme, Inc, it has the legal rights to prevent Beta, Inc from selling the cancer-curing drug. In spite of the fact that Beta Inc. is not earning any profits from the sale of the patented drug, it has to gain a license from the patent holder. The Acme, Inc has the burden to prove that Beta Inc has violated the Intellectual property laws and there is an infringement of the patent.

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