Ahmad, Hassan, and Rabnawaz were childhood friends who had always talked about starting a business together after college graduation. Ahmad had the financial background and startup capital to contribute and Hassan and Rabnawaz had the technical knowledge they believed would give them the competitive advantage needed to become an industry leader. During their early college years, Hassan and Rabnawaz developed a new and innovative way to manufacture computer components. When they shared their idea with Ahmad, he was able to draw up a detailed business plan to present to potential investors when the three were ready to launch their venture. They had been very careful not to disclose anything about their innovative idea to other colleagues or any of their friends and were anxious to get started. After selecting the company name "Supreme Computers" the three friends come to you for advice on intellectual property rights.
a. To protect their innovative process for manufacturing computer components from unauthorized use, which type of intellectual property should they apply for?
b. Should they consider protecting or registering their company name and could they use the name without registering it?
c. Which legal form of business should they adopt?
Answers
Answer:
Ahmad, Hassan, and Rabnawaz were childhood friends who had always talked about starting a business together after college graduation. Ahmad had the financial background and startup capital to contribute and Hassan and Rabnawaz had the technical knowledge they believed would give them the competitive advantage needed to become an industry leader. During their early college years, Hassan and Rabnawaz developed a new and innovative way to manufacture computer components. When they shared their idea with Ahmad, he was able to draw up a detailed business plan to present to potential investors when the three were ready to launch their venture. They had been very careful not to disclose anything about their innovative idea to other colleagues or any of their friends and were anxious to get started. After selecting the company name "Supreme Computers" the three friends come to you for advice on intellectual property rights.
a. To protect their innovative process for manufacturing computer components from unauthorized use, which type of intellectual property should they apply for?
b. Should they consider protecting or registering their company name and could they use the name without registering it?
c. Which legal form of business should they adopt? .f
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