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Australian Bioped Ltd has designed a new safety shoe for use in heavy industrial areas - HSC - SSCE Business Studies - Question 8 - 2007 - Paper 1
Question 8
Australian Bioped Ltd has designed a new safety shoe for use in heavy industrial areas. An overseas company wants to manufacture the shoe under licence. Which of th... show full transcript
Worked Solution & Example Answer:Australian Bioped Ltd has designed a new safety shoe for use in heavy industrial areas - HSC - SSCE Business Studies - Question 8 - 2007 - Paper 1
Step 1
Contracts and intellectual property
Answer
Australian Bioped Ltd must consider the legal implications of issuing a licence to an overseas company. This includes ensuring that they have the proper contracts in place to protect their intellectual property, such as patents and trademarks, associated with the design of the safety shoe. Proper contracts will also outline the responsibilities and rights of both parties, ensuring that the agreement is beneficial and legally sound.