Intellectual Property and Shrinkwrap Licenses MyAssignmenthelp.com

Question: Disucss about the Intellectual Property and Shrinkwrap Licenses. Answer: Introduction The organization and the public, in general, are getting threatened by the issue of intellectual property. The issue is becoming a threat at a huge cost to the economy of U.S. The organizations in the country are trying to stem the overall loss from this before any value lost to the economy and further harm the security of the country. The country mainly saves the rights associated with IP via patents, copyrights, and trademarks. The concept of a patent is saved by the Patent Act formed in 1952 (Cornish et al., 2013). The trademark act protected the issues related to trademark act in 1946 and the end, copyrights cat, are saved by the Patent Act of 1952. The report will discuss in detail about the article based on U.S Supreme court ruling related to the dispute between the Apple iPhone design and Samsung. It is important to note here that the US also saves another kind of issue related to intellectual property known as trade secrets (Kim et al., 2011). The issues related trade secret are avoided by state laws. However, there is certain federal protection with the help of Economic Espionage Act of the year 1996 along with the Theft of Trade Secrets Clarification Act formed in the year 2012 (Bently Sherman, 2014). Recently the Supreme Court of USA passed the judgment for Samsung in the conflict on the damages associated with the design of Apple's iPhone (Balakrishnan, 2016). The ruling says that the company does not has any liability to pay a huge amount of $399 million to a later company which was passed by the lower court previously (Kim, 2012). The figure asked shows the overall profits from the eleven products models. The issue started in the year 2011; when the company like Apple went on to sue Samsung because it copied different features of the design of its present devices and other features like grid presentation of apps. The lower courts passed judgment for Apple under the act of design patent infringement (Balakrishnan, 2016). The penalty was related to the basic federal law which goes on to say that the party which copied and used the design patented by other company to any specific article of producer stands liable to the level of the complete profit (Bau, 2013). The company also c ountered that the overall penalty is highly incorrect. Particularly, as per Samsung, Apple has no right to the total profit from the complete phone. However, only some amount of profit can be shared under such situation. The Supreme Court agreed to the logic and found the whole point presented by Apple very narrow (Kim et al., 2011). Pros and cons of the main point There is obviously a positive side of the coin which means that are some pros to save the rights related to intellectual property. Like for instance, things like a trademark, patent, and copyrights, these all features give the business extra benefits on competition. Features like trademark permit the company to build the brand and also be able to create a much stronger organization. This also applies to all the companies out there (Lemley, 2012). Features like copyrights make sure that the investor can own his or her creation with any plagiarism problem. Patents ensure that the process of innovation and invention along with motivation inventors completely discusses what can be invented and how the whole function will work. There are obviously so many positive sides of the intellectual property rights, but there are some drawbacks as well. For example, copyrights can be provided to the work that sometimes doesn't need or rather deserve protection under any kind law. Patents can be provided to so many shallow things like the company Amazon patented a picture of the white background is a perfect example of a patent joke. Other types of costs consist of saving the rights that can be very costly (May 2013). These high costs consist of Lawyers from, a cost of the court, settlement fees, and so many other types of costs that can rapidly mount and also make the protection of these rights a very expensive process for small as well as large organizations. Some companies, as well as people or professionals that should go for intellectual property protection, are obvious people. Companies like Apple or Samsung or Microsoft which are virtual companies that can grow a proprietary based product that can maintain the protection of the property right to save the market from being completely flooded with so many cheap kinds of imitations in the market (Biagioli Galison, 2014). It is important for the organization to save another kind of elements as well like logos and trademarks that recognized as the brand and also strengthen the brand. At the same time, not all kinds of businesses require this type of protection. The issue is to decide who needs it and who doesn't, as an answer can be mainly depending on the multiple factors that play in this. The ethics technique worksheet The case discusses the dispute which is going on between Samsung and Apple related to intellectual property rights. Apple sued Samsung in 2011 for copying the design and later asked for the compensation for the same. The amount claimed by the company was $399 million and later approved by the lower court (Canizares et al., 2013). Supreme Court in the US rejected this by saying the company cannot be part of the total profit of Samsung because the approach is too narrow. The issue of the case is related to intellectual property where Samsung copied the design of the Apple specifically the display of the phone. According to Supreme Court, focus only on the end product in market is narrow and the word of the law which are broad enough to consider either the total profit of the final product sold in market or in case of simple products like a element of the product in a very complex product like oven (Canizares et al, 2013). Both the companies were equally affected in this where Apple was trying to save its years of hard work to make it the most innovative company in the world. Samsung was also affected for a number of reason where on one side, the whole reputation of the company was at stake with the bad name brought by the whole controversy in addition to frivolous money asked by Apple in the form of compensation (Canizares et al., 2013). Apple will continue to fight for their rights and saves years of hard work that it has put in creating some of the most innovative products in the world. There are many things that Apple can do like it will keep fighting and try to make the case stronger in addition to the compensation. The company will try to set an example in the world where companies will understand the seriousness of the issue. Samsung will also try to save its reputation as well as the huge amount of compensation asked by Apple can cause a lot of losses in term of financial results. The best option for this situation is to have a mutual settlement between the companies, where Samsung agrees to pay a fair amount of money for the loss and the compensation from the mistake they have committed. Also, Apple will also have to understand that asking to be the part of the complete profit is not a right and a fair approach (Canizares et al., 2013). It is important that both the companies understand the issue and come up with a solution favorable for both. Conclusion The concept of the Intellectual property also called IP is associated with human minds for which some rights are set and identified. There are so many people like an innovator, or artists or business like Apple are provided with specific rights to so many intangible assets for a particular period. Along with saving the company's creation, organizations like Apple can also increase the overall value of the current IPs in so many ways (Biagioli Galison, 2014). They can either franchise or provide a license to transact the overall IP rights of the company. Reference Balakrishnan, A, (2016, Dec), Supreme Court sides with Samsung in Apple patent damages dispute. https://www.cnbc.com/2016/12/06/supreme-court-rules-for-samsung-in-apple-patent-case.html Bau, C. V. S. (2013).U.S. Patent No. D678,260. Washington, DC: U.S. Patent and Trademark Office. Bently, L., Sherman, B. (2014).Intellectual property law. Oxford University Press, USA. Biagioli, M., Galison, P. (2014).Scientific authorship: Credit and intellectual property in science. Routledge. Canizares, W. L., Green, C., Mecchella, M. L., Han, S. J., Nguyen, H. M. (2013).U.S. Patent No. D685,802. Washington, DC: U.S. Patent and Trademark Office. Cornish, W., Llewelyn, G. I. D., Aplin, T. (2013). Intellectual property: patents, copyright, trade marks allied rights. Kim, Y. Y. (2012).U.S. Patent No. D657,354. Washington, DC: U.S. Patent and Trademark Office. Kim, Y. Y., Kim, J. S., Kim, S. G. (2011).U.S. Patent No. D641,348. Washington, DC: U.S. Patent and Trademark Office. Lemley, M. A. (2012). Intellectual property and shrinkwrap licenses. May, C. (2013).The global political economy of intellectual property rights: The new enclosures?(Vol. 3). Routledge.