2 discussion

DISCUSION 2 [Insert al Affiliation] Intellectual Property (IP) and Preventing IP Theft The south-Korea gigantic electronic manufacturer, Samsung, has been able to thrive in the contemporary competitive world due to possession of two important IP including patents and trademark. Patents gives the company the right to sue anyone who reproduces their electronic products without the company’s consent while the trademarks bars anyone from using the company’s name or logo to market their products (Burgess & Power, 2008).
Ideas are the hardest IP for an organization to protect since they are so simply copied or imitated either in full and in part and the legal owner of the idea has a reduced capacity to realize when this happens.
Executives should protect IP through;
1. Creation and maintenance of IP portfolios
2. Avoid sharing too much information with 3rd parties (Burgess & Power, 2008).
Environmental Law and Leveraging Greenness
Business profits rightfully belong to the society from which the business derives its existence. A business must be socially responsible by spending more on environmental conservation activities such as reducing pollution. It is in the interest of the business. Knowing the environmental laws is beneficial as it helps the executive to ensure that the business is in harmony with the authorities as well as the community which constitutes its customers and source of continuity.
By making consumers more conscious of the environment, a company boosts its sales and reputation. For instance, after introducing the label ‘ Plantbottle’ and ‘ 100% recyclable bottle’ coca cola has been able to sell more since when consumers buy the product, they feel contented for doing something good (Fryzel, 2014). The increase in sales contributes to the company’s growth.
References
Burgess, C., & Power, R. (2008). Secrets stolen, fortunes lost: Preventing intellectual property theft and economic espionage in the 21st century. Rockland, MA: Syngress.
Fryzel, B. (2014). The true value of CSR: Corporate identity and stakeholder perceptions.