Gemma and James have pooled their savings to create a start-up company to develop and market an idea they conceived while students together at MIT. They obtained permission to use a college lab during late night hours a few nights a week during their last term before graduating to work on the project. Then they were able to move to James’ parents’ garage. Now they need more sophisticated resources. They have created a prototype robotic device that will aid first responders in disaster relief by sensing and locating survivors remotely in areas unsafe for humans and dogs to navigate. The robot’s sensors will locate living beings and can scan vitals and assess level of trauma. They have mapped out both private, public civil and military applications of this invention plus continued R & D improvement into next-phase capabilities. They have not shared their theory, the prototype, their documentation or any of the associated hard and soft technologies with anyone, but anticipate needing to do so to obtain a funding source. They are concerned about others learning of their technology ahead of their chance to obtain customers, because they caught a nosy classmate of theirs, Clarence, hanging around their lab.
Explain and discuss:
1.The type of business organization Gemma and James should use to organize their business entity;
2.The four types of intellectual property (IP) and which of these have application to Gemma and James’ invention. Include case law that illustrates these;
3.The steps Gemma and James should take to protect their invention.
4.What recourse they might have against Clarence (or someone like him) if he has indeed obtained knowledge of their invention, and how such a dispute might be resolved.