Legal environment in business and ethical frameworks

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Intellectual property rights are the rights given to persons over the creations of their minds. They usually give the creator an exclusive right over the use of his/her creation for a certain period.

Intellectual property rights are the rights given to persons over the reactivity or invention they make, it guarantee exclusive right over the use of their inventions for a certain period of time. Any work done that is considered within the law as copying or reproducing any part or wholly such creation without the owner’s consent will amount to legal violation.

Explanation:

1.The intellectual property implications in this scenario can be derived from the definition of the intellectual right, where the Beta Inc. copy the drug and release it to the market without owners consent, this action amount to violation because, there was no legal authority to do that Bettig, 2018).

2. Alternative dispute resolution is the means of settling disputes outside the courtroom; it includes negotiation, conciliation, mediation, and arbitration.

The ADR will helps since all the parties are actually given a chance to make their own concerns and agree on the possible remedies, it is always simple and time conscious, it is also flexible, this makes it more practical in many situations than in formal court litigation.

3. Ethical or moral dilemmas are situations which consist of two options, where neither of those options resolves the situation in an ethically acceptable fashion.

Acme dilemma are based on the ground that it fails to market the drugs where many people are actually suffering from the cancers it is indeed unethical to retain something of value to life for merely in reliance of legal protection right.

Beta will be faced with ethical question of theft for using some bodies’ property without their consent

The theories that are applicable here is the utilitarianism theory and the metaphysics theory.

Utilitarianism theory states that the best action is the action that aims at highest number of happiness to majority at the expense of minority, so it is justified to copy the right of others even if it violate the law since many people will benefit from it.

Metaphysics theory propounds that human beings action should be based on reasons, where the best action must be the action that respects the right of others. In addition, that there is nothing right or wrong but only on the agreement.    

Reference

Bettig, R. V. (2018). Copyrighting culture: The political economy of intellectual property. Routledge.




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