The article details the growing world of businesses and the law’s need to keep up to regulate new developments. A lot of companies now offer services or products online in some capacity, making them an E-Business. Some companies operate almost entirely online, such as Amazon. Other companies that operate mostly offline, such as Coca Cola, still maintain some sense of presence online. As businesses grow in these capacities, they must protect their intellectual property. Intellectual property is the creative product of a business, often one that generates revenue.
Patents, trademarks, and copyrights protect you from other businesses using your products without authorization, as well as protect you from using products that you may not be authorized to use. Though there are some precautions put in place already, such as trademarks, patents, and copyrights, Legislation is constantly working to make sure all parties are protected as the world of E-business evolves. LEGAL ISSUE In 1 to 3 sentences, identify the legal business issues raised in the article.
The article details the tactics practiced by cyber-squatters. When the internet became a legitimate vehicle to do business with, cyber-squatters purchased domain names that were trademarks of businesses. For example, Ford Motors would have to buy back the domain name to Ford. com to protect their trademark and not lose potential business. However, this was dealt with when congress passed the Anti Cyber squatting Consumer Protection Act (ACCPA). MANAGERIAL PERSPECTIVE Discuss how the legal issues affect business.
For example, could the problems have been avoided? Explain. Discuss realistic solutions supported by sound legal and business principles. Protection of intellectual property is extremely important to any business. As a responsible manager or business owner, or even an employee, you must protect the creative asset of your firm. The internet had unforeseen capabilities to be a very useful business application. A company needs to be aware of cyber squatters, potential business opportunities, and take methods to protect their trademarks and copyrights.
Cyber squatters are people who use domain names that are the same or similar to a well known organization. This is done with the intent of selling it to the highest bidder, often the organization itself. The intent is to make profits. Other times, this is done to generate more website traffic, which also usually leads to increased profits, all at the expense of the major organization. Cyber squatters also target new companies that may become valuable in the future by purchasing domain names before the company gets its trademarks and copyrights.
When the internet was initially launched, many businesses did not foresee it being a valuable business application. It was written off by many, but some with foresight saw an opportunity to take advantage of these businesses. While many businesses did not enroll themselves in online ventures, cyber squatters decided to purchase domain names that resembled the businesses. This led way to a lot of cyber crime against corporations. Additionally, many businesses lost out on potential profits by not taking advantage of the internet.
As stated before, the most important thing a business can do is protect its intellectual property. In addition to copyrights, trademarks, and patents, certain acts have been passed like the ACCPA to help protect businesses and people. While there are avenues put in place to help protect intellectual property, these measures are not entirely foolproof. The best way to protect anything is to have foresight and defend it before a problem arises. A new company or IP may be protected by seeking patents, copyrights, and trademarks as soon as the product or company has been created.
While it may seem like a hassle at first, it can do a lot of protection in the long run. Also, a product can be the most creative and unique attributes possible, making it easier to prove bad faith in court. When a person or company has taken measures to protect themselves with copyright and similar precautions, they stand a much better chance of winning in the legal realm. This way, everybody is protected, and those who intend to do harm are far more likely to be prosecuted under the law.