At many universities, the title to any patentable inventions conceived or reduced to practice by faculty, staff, or students is assigned to the university regardless of the funding source. In this situation, if the innovator(s) intend to participate in commercialization of the technology via a start-up, they must license the rights to the invention from the university True False
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- James Stilton is the chief executive officer (CEO) of RightLiving, Inc., a company that buys life insurance policies at a discount from terminally ill persons and sells the policies to investors. RightLiving pays the terminally ill patients a percentage of the future death benefit (usually 65%) and then sells the policies to investors for 85% of the value of the future benefit. The patients receive the cash to use for medical and other expenses, and the investors are "guaranteed" a positive return on their investment. The difference between the purchase and sale prices is RightLiving's profit. Stilton is aware that some sick patients may obtain insurance policies through fraud (by not revealing their illness on the insurance application). An insurance company that discovers such fraud will cancel the policy and refuse to pay. Stilton believes that most of the policies he has purchased are legitimate, but he knows that some are probably not. Answer the following questions: Would a…James Stilton is the chief executive officer (CEO) of RightLiving, Inc., a company that buys life insurance policies at a discount from terminally ill persons and sells the policies to investors. RightLiving pays the terminally ill patients a percentage of the future death benefit (usually 65%) and then sells the policies to investors for 85% of the value of the future benefit. The patients receive the cash to use for medical and other expenses, and the investors are "guaranteed" a positive return on their investment. The difference between the purchase and sale prices is RightLiving's profit. Stilton is aware that some sick patients may obtain insurance policies through fraud (by not revealing their illness on the insurance application). An insurance company that discovers such fraud will cancel the policy and refuse to pay. Stilton believes that most of the policies he has purchased are legitimate, but he knows that some are probably not. Answer the following questions: Under the…On your home owners policy ________ protects any personal property thats owned or used by the policyholder, regardless of the location of this property. In other words, if you're on a vacation in Hawaii and someone hits you with a pineapple and steals your suitcase, your personal property is still covered. A) Coverage A B) Coverage B C) Coverage C D) Coverage D E) none of the above
- Urban LLC sponsors a profit-sharing plan that requires employees to complete one year of service and be 21 years old before entering the plan. The plan also excludes all commissioned sales people and all other allowable exclusions allowed under the IRC. Which of the following employees could be excluded? 1. Jax, age 20, who works in administration and has been with the company for 32 months. 2. Gemma, a commissioned sales person working in the Houston office. She is 37 years old and has been with the company for 3 years. 3. Clay works as the lead foreman in the company factory. He is 39 and has been with the company for 11 months and is covered under a collective bargaining agreement. A. 1 and 2. B. 1, 2, and 3. C. 3 only. D. 1 only.The Carlson Department Store suffered heavy damage when a hurricane struck on August 31, 2013. The store was closed for four months (Sept – Dec 2013) and Carlson is now involved in a dispute with its insurance company concerning the amount of lost sales during the time the store was closed. Two key issues must be resolved: The amount of sales Carlson would have made if the hurricane had not struck; and Whether Carlson is entitled to any compensation for excess sales from increased business activity after the storm More than $8 billion in federal disaster relief and insurance money came into the county, resulting in increased sales at department stores and numerous other businesses. The table below shows the sales data for the 48 months preceding the storm. The following table reports total sales for the 48 months preceding the storm for all department stores in the county, as well as the total sales in the county for the four months the Carlson Department Store was closed. Management…The Carlson Department Store suffered heavy damage when a hurricane struck on August 31, 2013. The store was closed for four months (Sept – Dec 2013) and Carlson is now involved in a dispute with its insurance company concerning the amount of lost sales during the time the store was closed. Two key issues must be resolved: The amount of sales Carlson would have made if the hurricane had not struck; and Whether Carlson is entitled to any compensation for excess sales from increased business activity after the storm More than $8 billion in federal disaster relief and insurance money came into the county, resulting in increased sales at department stores and numerous other businesses. The table below shows the sales data for the 48 months preceding the storm. The following table reports total sales for the 48 months preceding the storm for all department stores in the county, as well as the total sales in the county for the four months the Carlson Department Store was closed. Management…
- Assume Clinique expects to sell 3 million ounces of BB cream within the first year after introduction butexpects that half of those sales will come from buyers who would otherwise purchase Clinique’s moisturizer (that is, cannibalized sales). Assuming that Cliniquenormally sells 10 million ounces of moisturizer per year and that the company will incur an increase in fixed costs of $2 million during the first year of production for the BB cream, will the new product be profitable for the company? Refer to the discussion of cannibalization in Appendix 3: Marketing by the Numbers for an explanation of how to conduct this analysis. (AACSB: Written and Oral Communication; Analytical Thinking)Kyla invented a unique device and finished the invention last April of 2021. On the other hand, Boyet is an inventor from another place who also invented the same type of device Kyla has invented. He completed his creation in July of 2021. They both made the invention, separately and independently of each other Now, the question is. With regards to the invention, Who has the right to the patent?A few days before the end of the term of a two-year NDA (non-disclosure agreement) he signed with a startup company related to a possible patent, Frank interviewed with another startup and divulged information covered by the agreement. The interview had been scheduled for a week later, in which case it wouldn't have been an issue, but had been moved up when another job applicant dropped out and the company had an opening for an earlier interview. Frank reasoned that he had met the spirit of the NDA, and a few days early wouldn't really matter. Besides, as it turned out, the company he interviewed with wasn't interested in that information, although they did hire him. What would have been done to make it right by Frank?
- In many states, including New York, an operating agreement is required for a limited liability company to exist. True FalseA few days before the end of the term of a two-year NDA (nondisclosure agreement) he signed witha startup company related to a possible patent, Frank interviewed with another startup and divulgedinformation covered by the agreement. The interview had been scheduled for a week later, in whichcase it wouldn’t have been an issue, but had been moved up when another job applicant dropped outand the company had an opening for an earlier interview. Frank reasoned that he had met the spiritof the NDA, and a few days early wouldn’t really matter. Besides, as it turned out, the company heinterviewed with wasn’t interested in that information, although they did hire him. What would youhave done if you were Frank?Ed Sabol, a once unhappy coat salesman, had a passion for filming his sons high school football games and other activities. Word of Eds filming abilities soon got around and he found himself working a number of local high school games. This led to Eds successful bid ($3,000) to film the 1962 NFL championship game. Then Commissioner Pete Rozelle was so impressed with the work that he agreed to Eds proposal to create a new entity known as NFL Films that would both preserve the history of the game and promote it to the nations sports fans. NFL Films creative approach to the game has resulted in 82 Emmy Awards to date. Ed retired in 1987, turning the reins over to his son Steve who has taken the company to new heights thanks in part to his empowering leadership style and product innovation. The company now has a 200,000 square foot state-of-the-art facility. Q1. Identify the entrepreneurial traits that Ed Sabol and his son Steve exhibit? Q2. How would you characterize the Sabols…