Samsung and Apple continue to fight to protect their rights to their intellectual property. Similarly, any company will fight to protect the real, personal, or intellectual property on which its business, revenues, and reputation are based. These same property issues are at stake in the pharmaceutical and biomedical industries where patents on medicines, medical devices, cutting-edge genomic therapies, etc. form much of a company’s livelihood.

For this discussion board, respond to the 3 questions including:

• How should a for-profit corporation balance its business needs with the needs of its customers?

• Lives depend on products created by some companies. Do these companies have a greater responsibility to work towards benefitting the consumer more than themselves?

• Look at the issue from a Biblical worldview. How would you respond if you were running such a company?

Your responses must explain how you balance the interests at stake including:

• Creator v. Consumer in the creation and management of intellectual property

O Profit and return on investment for company owners/shareholders

O Continuing existence of the company

O Protecting intellectual property of the company

O Needs of patients, practitioners, and society

• Biblical support and guidance for your positions

• Any other legal and ethical concepts you believe may be relevant

Answer rating: 100% (QA)

How to balance business needs and the customer needs The most fundamental issue in many organizations is to make decisions that will lead to profitability together with decisions that impact other sta... View the full answer