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Intellectual Property
A for-profit corporation has to protect its intellectual property (IP) needs if it wants to stay competitive. At the same time, it should understand the needs of its customers, who are more likely to be interested in the product itself rather than in who controls the IP. Thus, corporations have a question to ask: how should they guide themselves? Should they use a shareholder theory approach or a stakeholder theory approach? Who should control the IP, and why does it matter? In a world where brand is everything and brand equity is all that matters for controlling a market, companies seek to keep tight control over their IP because it prevents their brand from souring with consumers when they essentially control the flow of innovative goods that come to market. The fact is that there can be no fair balance between customer needs and business needs in a society that allows corporations to essentially become like nation-states. The problems of IP are but relatively small when compared to the much bigger problem of how companies exploit, undermine, and trivialize society by putting profits before people. The best way to approach this situation would be for companies to begin to put people before profits (Morrin, 2000).
Companies whose mission is primarily to create products on which lives depend should have a greater responsibility to tip the balance toward the customer more than toward themselves, as that is what is meant by putting people first. In fact, when companies put people first, the profits that they ultimately want tend to follow (Gibson & Blackwell, 1999). The fact that Herb Kelleher was able to turn Southwest Airlines from an upstart to a competitive force is based on that fact: he put people before profits and the people, recognizing his good will, gave him their business out of gratitude and respect and appreciation.
Companies that want to deliver life-saving products like in the health care industry should keep Kellehers business model in mind. There is no reason drugs should be so expensive. They are cheap in other nations compared to the US. The problem is that the US government subsidizes the industry, and thus the prices are raised (Neuman et al., 2007).
If I was running such a company and looking through a...…ROI. God will take care of it. The important thing for a company to do is to show the love to those who are in need. The whole point of market research, after all, is to identify what consumers need and then find a way to satisfy that need. Serving the consumer is what being in business is all about.
The company will thrive so long as its leaders show that kind of spirit and trust in God for support. Legalism and laws to protect IP are ways to control and bastardize a market. They are not for faithful Christians. Patients, practitioners and companies that rely on health care products, for examplethey need the tools, drugs, and designs that companies develop. Why try to prevent them from obtaining these products? What is the service shown to God in that? The secret to being a successful company in this day and age is to show God that you care about His people and to seek first His kingdom, because He is waiting to support those who do so. The secret to Kellehers success was found in that principle: show the people the love, and the…
References
Gibson, J. W., & Blackwell, C. W. (1999). Flying high with Herb Kelleher: a profile in charismatic leadership. Journal of Leadership Studies, 6(3-4), 120-137.
Givel, M. (2006). Punctuated equilibrium in limbo: The tobacco lobby and US state policymaking from 1990 to 2003. Policy Studies Journal, 34(3), 405-418.
Morrin, D. S. (2000). People Before Profits: Pursuing Corporate Accountability for Labor Rights Violations Abroad Through the Alien Tort Claims Act. Boston College Third World Law Journal, 20(2), 427-446.
Stakeholder Theory In business, there is a conflict of ideas between the competing ideas of shareholder theory and stakeholder theory. This paper will outline what each of these theories is, and underscore some of the issues in this debate. Shareholder Theory Shareholder theory is the idea that businesses work for the shareholders. The idea was perhaps most famously elaborated by Milton Friedman in 1970. Friedman, arguing at a time when the idea of
Stakeholder management is a concept applied to many types of organizations, where strategic decision-making takes into account the interests of multiple different stakeholders (Thompson, 2016). Advocates of the stakeholder perspective have argued that the stakeholder approach is a better way to evaluate a business' success, as opposed to strictly considering financial results (Perrini & Tencati, 2006). The concept of the balanced scorecard hypothesizes that businesses that look after the interests
If the enhanced stakeholder perspective is truly the best for corporate social responsibility, this has significant implications not only for management but also for corporate governance. While Nohria (no date) argues that corporate governance is a hygiene factor in that its absence is a problem for companies but its presence did not correlate with improved performance, this is only for basic levels of governance. For a board to truly adopt
Intellectual Property and Corporate Espionage Corporate espionage is an illegal activity though it is on rise in industrial settings. Organizations consider it as one of the techniques to increase their market share and beat the competitor. Various laws have been approved to combat these practices on domestic and international levels. Violation of these acts can result is heavy fines and suspension from business sector. The advent of information technology has revolutionized the
However, the rights have some confinements incorporating the limitations and other considerations of issues like their contradiction with the fundamental rights and the codified provisions in force. The legal issues involving intellectual property rights have two dimensions. Firstly, those that provide exclusive rights only in the sphere of copying / reproduction of the item or act safeguarded and secondly, those which provide a right to deter others from doing
The WIPO Copyright Treaty significantly takes on some of the elements of the Berne Convention. For patens and other industrial property protection treaties, there are similar challenges in attempting to create a common denominator among the different national legislations. From this point-of-view, the Paris Convention takes over some of the roles fulfilled by some of the previously mentioned conventions. As a multilateral convention, it is important to create a minimum