Eth 321 week 5 securities and international regulatory agencies

Securities and International Regulatory Agencies

Running head: SECURITIES AND INTERNATIONAL REGULATORY AGENCIES

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SECURITIES AND INTERNATIONAL REGULATORY AGENCIES

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Securities and International Regulatory Agencies

The purpose of this letter is to respond to German Farm Equipment’s claim against Bonner Farm Equipment Corporation for patent infringement. The contents of this letter will explain why Bonner is the owner of the invention, discuss the intellectual property rights owned by Bonner, and the type of dispute resolution Bonner intends to use to settle the matter of who holds the patent legally.

Explanation of why Bonner is the owner of the invention

The reason that Bonner is the owner of the invention is due to the fact his engineers developed the innovative new tractor with technology based on a patent invention they developed. Usually the inventor would own the rights to the invention they create while they are employed at a company unless they signed an agreement that gave the invention rights to the company or they were hired specifically for the creation of the invention (Stim, 2019). The agreements that are usually signed are called Pre-invention assignments which are typically signed when you start employment with the company and usually include nondisclosure and confidentiality agreements.

Discuss the Intellectual property rights owned by Bonner in the invention

The intellectual property rights that Bonner owns within the invention of this innovative new tractor are copyright and Patents. Bonner owns the copyright due to the computer programs and technical drawings that are associated with the design, planning, and manufacturing of the tractor. He owns the patent due to the agreements signed by the engineers when they were hired to work on the new tractor specifically. These agreements gave Bonner sole rights to the ownership of the patent on the tractor and all of its parts and technology.

Dispute resolution

In this case, German Farm Equipment Corporation has accused Bonner of patent infringement. This accusation was made through a letter sent by German Farm Equipment Corporation. I recommend that the dispute resolution for this case should be held in the United States in either Texas or the District of Delaware which tends to protect intellectual property (“upcounsel”, 2019). I would also suggest that the dispute resolution type would be litigation. I chose this form of resolution because of the letter that was sent to Bonner that did not include any evidence that Bonner could research to evaluate the claim and determine what could be done to correct the issue through mediation. Some things German could have added are the dates of their patent or a patent ID number to evaluate the claim. Proof of any kind that suggests that there was any type of contact or communication that intellectual property was leaked or given to Bonner. If the letter would have contained any of these items, I would have suggested that we handle this through mediation and work something out that benefits both parties involved.

Conclusion

This letter has discussed the why Bonner is the owner of the invention, the intellectual rights owned by Bonner in the invention, and the type of dispute resolution Bonner intends to use to prove he is not guilty of patent infringement.

References:

Stim, R. (2019). NOLO. Retrieved from https://www.nolo.com/legal-encyclopedia/who-owns-patent-rights-employer-inventor.html

Upcounsel(2019). Retrieved from https://www.upcounsel.com/patent-infringement-letter