CO1 Assess the legal environment of business.
CO2. Explain how ethical frameworks shape business decisions.
CO3 Compare forms of alternative dispute resolution.
CO6 Distinguish the four forms of intellectual property
Instructions: 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. In 1500 – 2100 words, address the following:
- Identify the intellectual property implications in this scenario.
- Discuss how alternative dispute resolution applies.
- Identify the ethical dilemma faced by Acme, and the dilemma faced by Beta. Use two theories of ethical thoughts to discuss the recommended course of action by both companies.
Use at least four credible sources, one of which is the assigned textbook in this class. Your response must include four credible/quality references.