Question #4: Did Marlow violate any duty or duties toward Aerogels, Inc.? If so what are they and will he be liable to Aerogels, Inc. for the profits he receives in his new venture?
At the heart of this dilemma is the issue of whether or not, as a director, Marlow violated any duties by using his position in the company to form a competing business. But before an adequate conclusion about this issue can be drawn, its important to analyze all of the possible fiduciary duties that could apply to a member on the board of directors.
In this case, there are two primary duties, the duty of loyalty and the duty of care, both of which work towards protecting the legitimacy and integrity of a business. The duty of care is typically represented through …show more content…
And as that litigation process draws to a close, it is also likely that the remedy suggest by the court will place a significant financial burden on Marlow. He may quite possibly be forced to compensate Aerogels Inc. for the loss of business and may also have to, in some degree, share the profits he obtained through his independent venture. And lastly the court may also find it appropriate to supplement the equitable relief with some form of injunctive relief.
Question #5: What types of intellectual property protection are available to Jay and Emma for their business ideas/products? Identify each and explain how likely they are to protect those assets via intellectual property law. No need to use the IRAC method on this question, a list will be …show more content…
A trademark, in this particular scenario, could apply to the name of the company itself (Aerogels) and the name of the new material (SpaceLoft). However due to the fact that Aerogels is a generic mark, it can’t be trademarked and therefore the company will receive no protection if they keep that name. As for SpaceLoft, it could very well be protected as a suggestive mark as space and loft allude to an image of insulation and warmth. Compared to the other four mark categories, a suggestive mark is the third strongest behind fanciful and arbitrary. Furthermore, protection under the suggestive mark is given to the first person to use it in commerce or to the first person to register it with the U.S. Patent and Trademark Office. Successfully acquiring a trademark protects an entrepreneur from infringement issues and issues involving dilution (blurring and tarnishment). However, this protection can be lost if the trademark is not used for three consecutive years and it is also worth noting that it is completely legal for an individual to use the trademark as a
At the heart of this dilemma is the issue of whether or not, as a director, Marlow violated any duties by using his position in the company to form a competing business. But before an adequate conclusion about this issue can be drawn, its important to analyze all of the possible fiduciary duties that could apply to a member on the board of directors.
In this case, there are two primary duties, the duty of loyalty and the duty of care, both of which work towards protecting the legitimacy and integrity of a business. The duty of care is typically represented through …show more content…
And as that litigation process draws to a close, it is also likely that the remedy suggest by the court will place a significant financial burden on Marlow. He may quite possibly be forced to compensate Aerogels Inc. for the loss of business and may also have to, in some degree, share the profits he obtained through his independent venture. And lastly the court may also find it appropriate to supplement the equitable relief with some form of injunctive relief.
Question #5: What types of intellectual property protection are available to Jay and Emma for their business ideas/products? Identify each and explain how likely they are to protect those assets via intellectual property law. No need to use the IRAC method on this question, a list will be …show more content…
A trademark, in this particular scenario, could apply to the name of the company itself (Aerogels) and the name of the new material (SpaceLoft). However due to the fact that Aerogels is a generic mark, it can’t be trademarked and therefore the company will receive no protection if they keep that name. As for SpaceLoft, it could very well be protected as a suggestive mark as space and loft allude to an image of insulation and warmth. Compared to the other four mark categories, a suggestive mark is the third strongest behind fanciful and arbitrary. Furthermore, protection under the suggestive mark is given to the first person to use it in commerce or to the first person to register it with the U.S. Patent and Trademark Office. Successfully acquiring a trademark protects an entrepreneur from infringement issues and issues involving dilution (blurring and tarnishment). However, this protection can be lost if the trademark is not used for three consecutive years and it is also worth noting that it is completely legal for an individual to use the trademark as a