Case Background intravenous (M) ine. disoennecting \& a sid subsequently causing Lopez's friend's death. Today his N dick lock has become the norld standard for N delivery because Geotge Losez protected his idea Case Study Questions and Activities 1. Parara copyrghts and trase-mans are the thies mago forms ef inteloctual property that ean be protected trough festrai legisiation. a. Brafy explain each of these three legal Sarr"s of protection. Case Background I have to admit, the motor-sailor was my idea. I persuaded my partner, Steve Savitch, to buy a boatactually it was a fancy, 14-metre rig called The Ninjafor the partnership. We could write off some of the payments as an expense, and it would do our company image a world of good. Steve and I had been friends for a dozen years and partners in Savitch and Johnson, Business Consultants, for the past three. We'd done quite well, and each of us would clear more than $50,000 this year. I persuaded him we could afford this perk. Besides, my marketing instinct told me it could really help close a few deals. About two months after we bought the boat and had a lot of fun-a fellow who sells radar equipment called me. Seems Steve had bought $2,000 worth of goods, and this chap was wondering when he'd get paid. After I hung up the phone, my secretary buzzed me with Mary, Steve's wife, on the line wanting to know where Steve was. I thought he was on a business trip with a few of our best clients. As it turned out, Steve had disappeared with The Ninja, and no one knew where. In the end, I got stung for all his business debts, including the payments on The Ninja. Ine probiem was that Steve and I never saw the need for having anything in writing. We were both men of good faith (or so I had thought). We had each pulled our weight in business, and we had balanced each other's skills. For the first time in 12 years, I made an appointment to talk to a lawyer. He just shook his head. "You should have come to me a lot sooner, Phil," he said. "A lot sooner. And while I am at it, Phil, you should also have been in close touch with a professional accountant. These e-business writeoffs you're talking about might not be acceptable according to the CRA." Last week, when I was closing the place down and getting ready to go back to work for my old boss, I got a postcard from Tahiti. "Sorry partner," Steve wrote. "Didn't mean to run out on you, but it was the only way I could handle the home front. These things happen.... Your pal, Steve." Case Study Questions and Activities 1. Partnership agreements a. What is a partnership agreement? b. Briefly explain the two basic types of partnership agreements. Would a partnership agreement necessarily have protected Phil from Steve's actions? c. What are the advantages and disadvantages of a partnership agreement? What was Phil's major reason for wanting to establish an unwritten partnership agreement as opposed to a corporation? d. Suppose that Phil had approached his lawyer to draft a written partnership agreement. List the major items that should be included in this c. What are the advantages and disadvantages of a partnership agreement? What was Phil's major reason for wanting to establish an unwritten partnership agreement as opposed to a corporation? d. Suppose that Phil had approached his lawyer to draft a written partnership agreement. List the major items that should be included in this agreement that might have protected Phil. 2. Corporate structures a. What would be the major advantages and disadvantages for Phil to have established a corporate structure? b. If Phil had established a corporate structure, would a shareholders agreement have been required by law? c. Would you have advised Phil to have a shareholders agreement? Why or why not? d. List five key issues a shareholders agreement should address. (Here, in addition to the text, you might want to link to "Shareholder Agreements": https://www.ic.gc.ca/eic/site/cddgc.nsf/eng/cs04849.html). e. Briefly explain the type of legal structure-a partnership or corporation-that would have provided Phil with the most protection against Steve's actions. 3. Cooperatives a. What are the major reasons for considering a cooperative legal structure? Would this legal form have been of benefit to Phil