i want a student reply post . it most be in your own words. 150 words each . folder below please
KELSEY CANAPARY (Jun 11, 2019 8:02 PM) – Read by: 8
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There are four types of intellectual property: copyrights, trademarks, patents and trade secrets. (Patent Law, Part 1) Each of these four intellectual properties protect different types of creations. A patent prevents another person from making, selling, or using the patented invention and from importing the patented invention or an article made by a patented process into the United States. (Patent Law, Part 1) A trademark is a little different than a patent it identifies a product and distinguishes it from other products to identify the source of the product. (Patent Law, Part 1) A trademark can be indefinite if the owner continues to use it and it does not lose its distinctiveness and become generic.
Should a company be allowed to patent a life form? Many people will argue both sides of this equation. In my opinion I do not think a patent should be granted for life form if it is in its natural state. If a company can take an organism and alter it to make it valuable, then a patent should be issued. For example, Myriad Genetics was able to identify BRCA mutations that increased a woman’s chances for breast or ovarian cancer. The Supreme Court ruled against the company stating that merely being the first to isolate a naturally occurring gene or other product of nature doesn’t entitle you to a patent. (Huber, 2013) I believe Myriad Genetics did a very large research project that allowed them to identify a mutation that causes ovarian and breast cancer. But they did not invent anything that would prevent the cancer and therefore it should not be patented. Genetically engineered cells, plants, and lives organisms are used in different medical diagnostic tests and therapies. (Huber, 2013) This type of testing will likely remain patentable as long as there is an innovative product or process involved.
BUSN WEEK 2 FORUM
KELSEY CANAPARY (Jun 11, 2019 8:02 PM) – Read by: 8
Reply
There are four types of intellectual property: copyrights, trademarks, patents and trade
secrets. (Patent Law, Part 1) Each of these four intellectual properties protect different types of
creations. A patent prevents another person from making, selling, or using the patented invention
and from importing the patented invention or an article made by a patented process into the
United States. (Patent Law, Part 1) A trademark is a little different than a patent it identifies a
product and distinguishes it from other products to identify the source of the product. (Patent
Law, Part 1) A trademark can be indefinite if the owner continues to use it and it does not lose its
distinctiveness and become generic.
Should a company be allowed to patent a life form? Many people will argue both sides of
this equation. In my opinion I do not think a patent should be granted for life form if it is in its
natural state. If a company can take an organism and alter it to make it valuable, then a patent
should be issued. For example, Myriad Genetics was able to identify BRCA mutations that
increased a woman’s chances for breast or ovarian cancer. The Supreme Court ruled against the
company stating that merely being the first to isolate a naturally occurring gene or other product
of nature doesn’t entitle you to a patent. (Huber, 2013) I believe Myriad Genetics did a very
large research project that allowed them to identify a mutation that causes ovarian and breast
cancer. But they did not invent anything that would prevent the cancer and therefore it should not
be patented. Genetically engineered cells, plants, and lives organisms are used in different
medical diagnostic tests and therapies. (Huber, 2013) This type of testing will likely remain
patentable as long as there is an innovative product or process involved.
References
Huber, P. (2013) Who Owns the Code of Life? Retrieved from https://www.cityjournal.org/html/who-owns-code-life-13601.html
Patent Law You Can Use, Part 1 (n.d) Retrieved from https://corporate.findlaw.com/intellectualproperty/patent-law-you-can-use-part-1.html
Adam Saxx (Jun 12, 2019 10:43 PM) – Read by: 4
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Intellectual property is a critical part of the United States free market economy. Ideas and
innovations are protected by law to promote originality while maintaining product authenticity
preventing a person or a business from stealing an idea, design, or market secret. Protecting
intellectual property is done if multiple ways, but in this discuss we will discuss patents and
trademarks and their key differences. As stated by Hanna Hasl-Kelchner, “the infringement of
intellectual property rights capitalizes on ideas and goodwill developed at someone else’s
expense” (Hasl-Kelchner, 2006).
A patent is a property right protecting the ideas of inventors via licensure given under the United
States Patent and Trademark Office (USPTO). Patent holders reserve exclusive rights to their
inventions, processes, and designs for a 20-year time period following the application submittal.
Utility, design, and plant patents exists to further enable inventors the ability to produce new
products with little fear of competition.
A trademark is a visual aid such a word, phrase, or symbol/design that a company develops to
aid in brand recognition. A good trademark will distinguish a company from its competitors, and
possibly bring prior customers back more easily after using their product or service. Trademarks
are to be renewed every 10 years.
The difference between the two intellectual property marks is the term timeline. A patent last for
20 years, and by that time the invention can or should have been developed into something more
substantial. A trademark can virtually last forever, as it can be continuously renewed at the end
of its term every 10 years. A patent protects an idea while a trademark protects a tangible brand
visual aid. Filing for a patent requires something to be new, useful, and relevant while a
trademark can be whatever someone develops to identify their company. Finally, a patent
prevents others from using your idea or stealing your invention while a trademark works best if
shared in expectation that the recognition brings return to your company.
In regards to the allowance of patenting a life form, I agree with the nine justices of the Supreme
Court saying that merely isolating a naturally occurring gene or other product of nature “doesn’t
entitle you to a patent” (Huber, 2013). It was stated that looking to patent a biological
phenomenon without the creation or development of a new device is an unreasonable stretch. A
patent must cover a self-developed idea that does not simply take nature’s work and sign off as if
it were your own. Human rights, or ethical dilemmas, surface when delving down the road of
biopiracy. In some cases, scientist have claimed that genetic engineering is justifiable “on the
grounds that it will benefit society, especially the poor, by providing better and more food and
medicine” (Maathal, 1998). However, that is unlawful because of company’s desire to
monopolize raw biological material which falls under the United States antitrust legislation.
References
Hasl-Kelchner, H. (2006). The Business Guide to Legal Literacy. Retrieved from
http://ebooks.apus.edu.ezproxy1.apus.edu/BUSN311/AppendixB.pdf
Huber, P. (2013). Who Owns the Code of Life? Retrieved from https://www.cityjournal.org/html/who-owns-code-life-13601.html
Maathai, W. (1998). The link between patenting of life forms, genetic engineering & food
insecurity. Review of African Political Economy, 25(77), 526-528. Retrieved from
https://search-proquest-com.ezproxy2.apus.edu/docview/218546893?accountid=8289
FINC WEEK 2 REPLY
Larry Dover (Jun 12, 2019 11:56 PM) – Read by: 2
Reply
The financial statements of a firm show different aspects of a company’s financial health. The
income statement, balance sheet and statement of cash flows are all important and have their
purpose, but also have their limitations. All three are needed to determine the overall financial
health of a firm. The income statement shows profits and losses for a given time period. In
essence, the income statement shows profits from sales after expenses have been deducted over a
period of time. Gross profits are the profits of sales after cost of goods sold (COGS) are
deducted. Deducting operating expenses from the gross profit provides the operating income.
Finally, net income is calculated by deducting interest and taxes from the operating income. The
three profit classifications can also provide margins in percentages which make it easier to
compare profitability between different companies. The shortcoming of an income statement is
that it does not indicate cash flow.
The balance sheet is a financial statement provides a snapshot of a company’s assets, liabilities
and shareholder equity at a particular point in time. The basic equation for the balance sheet is
total assets = liabilities + shareholder equity. Assets are cash, land, owned facilities and
equipment. Liabilities are debts and shareholder equity is owner-supplied capital. Assets are
owned by the company and liabilities and shareholder equity is how the company is financed.
The limitation of the balance sheet is that it shows the value of the company’s assets for the time
they were obtained rather than the current value. So, the value can be skewed if equipment is
aging or real estate drops in value.
The statement of cash flows is a financial statement that indicates how and from where cash
flows into the business and where cash flows out of the business. Understanding cash flow is
important to both investors and managers as it shows if cash remains after operating expenses are
paid in order to pay creditors or shareholders, or to reinvest into the business. The shortcoming
of the cash flow statement is that it does not take into account non-cash items that may determine
net income.
All three of the financial statements are used in financial analysis. They are used to review
historical and current data to make projections about how a company may perform in the future.
Financial ratios are used to compare data in relative terms that may help identify positives and
negatives about financial performance. Financial ratios indicate profitability, liquidity, leverage
and efficiency. They are used my managers to identify areas that may need attention to produce
better performance. From outside the company, lenders, creditors, investors and suppliers review
financial statements to determine how well a company is managed and whether the company is
worth doing business with.
Regards,
Larry
References
Keown, A.J. (2016). Foundations of Finance. [VitalSource Bookshelf]. Retrieved from
https://online.vitalsource.com/#/books/9780134084046/
Freddie Jasper (Jun 12, 2019 8:14 PM) – Read by: 2
Reply
First off, a company’s financial statements consists of the financial information of the
company. Such information includes: its assets, lines of credit/loans, equity, revenue and cash
flow are all some of the things included in a company’s financial statement. The balance sheet of
a financial statement presents the company’s assets, it’s liabilities (debts) and capital that the
company has incurred within a specific time period. While balance sheets show the
company’s financial standing up until a specific point-in-time, this is the sole reason that these
are limited to both its accuracy and current standings. Balance sheets can also contain
estimations and also do not include everything the company earns or obtains such as all of its
assets. The income statement of the financial statement includes profits and loses. Limitations
on these can include errors and fraud, which are effect investors and government/financial
institutions. They also may not include every transaction the company has made rather it be a
profit or a loss. The statement of cash flows display a company’s income, expenses, debt and
liabilities from all methods of business operations including investments and all financial
activities. Limitations to the statement of cash flow includes not being able to tell a company’s
true business initiatives for investment purposes, if the company is actually performing well
financially, errors are common and also if the balance sheet is wrong then this part of the
financial statement is wrong as well. The purpose and importance of a financial analysis is to
determine how well a company is doing financially and shows areas in which the company can
improve to increase its credibility and value. Financial ratios are basically financial breakdowns
of the company’s assets, debts, income, credit and profits to determine the well-being of the
company.
The five-question approach to using financial ratios includes: How liquid the company is, if
management is maximizing operating profits using company assets and are they shareholders
receiving good returns on capital invested, is shareholder value being created by managers
and how the company is financing assets. When discussing limitations of the financial ratio,
again they surround inaccuracy and out-dated information. If we were to divide users of ratios,
the short-term lenders would use the liquidity ratios since it shows the company’s ability to meet
short-term goals. Long-term lenders would use the debt to total assets ratio as well as liquidity
and quick ratio because these lenders need a more full scope on the company financial
potential. Lastly, shareholders are interested in earnings per share, the price to earning share for
profit reasons, and the dividend per share and yields for income and profit reasons as well.
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