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Risk Arising in Tangible Property and Intellectual Property

Attached are readings to further assist you.

- Utility Industry of Florida in the United States.

- Research various aspects of this industry for tangible and intellectual property issues.

- Identify which properties are significant to the industry, what managers in the industry might do to protect an organization's property rights, and what they must do to ensure an organization protects othersâ?? intellectual property rights. Research requires an understanding of tangible and intellectual property, and issues in the selected industry.

1. What actions must a manager in the selected industry take to identify and protect an organization's tangible property rights?

2. What actions must a manager in the selected industry take to identify and protect an organization's intellectual property rights?

3. What actions must a manager in the selected industry take to identify and protect an organization from violating others' intellectual property rights?

Please includes 5-9 references and citations.

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Utility Industry of Florida, United States of America: Risk Arising in Tangible Property and Intellectual Property

Utility companies include gas, electric, water and telecommunications are integral part of the society. Hence, managers in these entities play an ever important rule in economic development. For example, if the telecommunications companies are not managed properly, then telecommunications services will be unreliable affecting the entire economy - for example, financial institutions will have difficulty executing their services, and multinational companies will have a hard time coordinating its global operations ensuring that products and services are manufactured and provided as they are needed. Hence, managing these companies' assets is a priority.

In an era where information technology and systems make the transfer of intellectual properties easier and at the speed of light, pressures to guard these properties more closely have increased. As a matter of fact, companies now spend more resources in ensuring that their intangible properties are properly safeguarded than on how much they spend for their tangible properties. Moreover, these same technologies and systems have made the theft of these properties also more convenient and virtually untraceable. Intellectual properties include patent, copyrights, trademark, trade secrets, and trade and domain names.

In spite of the existing laws protecting the rights of intellectual property owners, companies must perform much more than the diligence of a prudent owner in protecting their interests. These laws include the Economic Espionage Act of 1996 which covers computer espionage; the Federal Patent Statute; American Investors Protection Act; Copyright Revision Act of 1976 and Sonny Bono Copyright Term Extension Act of 1998; NET Act; Digital Millennium Copyright Act, Lanham Trademark Act; and Federal Dilution Act of 1995. Nevertheless, managers in the utility industry must take appropriate actions in identifying and protecting the organization's intellectual property rights. However, the same actions should be applied for the firm's tangible property rights.

Robert Reilly (2009) defines intellectual property as "an intangible asset that enjoys special legal recognition and protection" (p. 19). Though this legal existence depends upon the laws of the governing statutory authority over the said asset, it is a result of "specific and conscious intellectual activity of its developer" (Reilly, 2009, p. 20).

The increasing urgency and importance of protecting one's tangible and intellectual property rights stem from the fact that "recent economic crisis and resulting government stimulus funding for ...

Solution Summary

The risk arising in Tangible Property and Intellectual Property is examined.

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