Topic: Intellectual Property
Intellectual property is a significant asset for most companies. Patented products and processes are often the basis of a company’s reason for existence. IP must be managed and protected in line with the fundamentals and mission of a company’s business.
For this discussion board, respond to the 3 questions in the Business Ethics Flashpoint 8.1 in your text. Your response must explain how you balance the interests at stake, including:
- How should a for-profit corporation balance its business needs with the needs of its customers?
- Lives depend on products created by some companies. Do these companies have a greater responsibility to work towards benefitting the consumer more than themselves?
- Look at the issue from a Biblical worldview. How would you respond if you were running such a company?
Your thread must explain how you balance the interests at stake, including:
- Creator v. Consumer in the creation and management of intellectual property
- Profit and return on investment for company owners/shareholders
- Continuing existence of the company
- Protecting intellectual property of the company
- Needs of patients, practitioners, and society
- See, e.g., Fitzgerald, M. (2019, August 19). CEOs of nearly 200 companies say shareholder value is no longer main objective. CNBC. Retrieved from https://www.msn.com/en-us/money/companies/ceos-of-nearly-200-companies-say-shareholder-value-is-no-longer-main-objective/ar-AAG0SOV?ocid=se
- Biblical support and guidance for your positions
- Any other legal and ethical concepts you believe may be relevant
Your thread must be at least 1,000 words and be supported with a minimum of 3 scholarly sources other than the course textbook and materials, with current APA citations. A Biblical worldview must be integrated.