Dr Nicola Green is a bio-geneticist and a team leader at the Sydney Blacktown Business Research...

 

Transcribed Image Text:

Dr Nicola Green is a bio-geneticist and a team leader at the Sydney Blacktown Business Research Institute of Sciences (SBBRIS), in the Sydney suburb of Blacktown. She is one of your firm's oldest clients. For the past year, she and 25 of her colleagues have been working on a research project to develop genetically modified kale that is delicious, very healthy and grows twice as fast as other kale varieties. It also maintains its health and taste properties when oven dried. This allows it to be cooked (including to produce crispy kale chips) without adding any of the oil typically used in cooking many other kale varieties, which increases their fat and calorie intake. However, considerable additional research and development is still required. Early testing of the genetically modified (GM) kale caused the internal organs of laboratory mice to melt. The GM kale also has potential to spread to adjacent areas and cross- pollinate with other crops, potentially putting at risk any with organic or GM-free certification. There is also regulatory uncertainty associated with the legal regimes governing GMO crops around Australia. For these reasons, SBBRIS does not want to further the research itself, but would be willing for this to occur if potential legal liabilities can be isolated to a separate legal entity. Dr Green believes that if the genetically modified kale's current 'killer kale' characteristics can be removed from it, and other obstacles overcome, then successful development of the project has the potential to earn significant amounts of money. She envisages that thousands of people may ultimately want to invest in the venture. YOUR TASK: Your firm has recommended that SBBRIS register a company to pursue the project and asked you to advise. Using ASIC's website, or the textbook (with proper referencing) prepare a comprehensive report for Dr Green on the following questions: 1. Dr Green would like to name the company Green Vegetables, Kale Invest, Hail the Kale, or LoCal Kale. Are any of the names available? (2 Marks) (50 words) 2. If Dr Green would like to reserve any of the above names, if available, is there a possibility for doing so, and if so, for how long can a name be reserved? (2 marks) (50 words) Dr Nicola Green is a bio-geneticist and a team leader at the Sydney Blacktown Business Research Institute of Sciences (SBBRIS), in the Sydney suburb of Blacktown. She is one of your firm's oldest clients. For the past year, she and 25 of her colleagues have been working on a research project to develop genetically modified kale that is delicious, very healthy and grows twice as fast as other kale varieties. It also maintains its health and taste properties when oven dried. This allows it to be cooked (including to produce crispy kale chips) without adding any of the oil typically used in cooking many other kale varieties, which increases their fat and calorie intake. However, considerable additional research and development is still required. Early testing of the genetically modified (GM) kale caused the internal organs of laboratory mice to melt. The GM kale also has potential to spread to adjacent areas and cross- pollinate with other crops, potentially putting at risk any with organic or GM-free certification. There is also regulatory uncertainty associated with the legal regimes governing GMO crops around Australia. For these reasons, SBBRIS does not want to further the research itself, but would be willing for this to occur if potential legal liabilities can be isolated to a separate legal entity. Dr Green believes that if the genetically modified kale's current 'killer kale' characteristics can be removed from it, and other obstacles overcome, then successful development of the project has the potential to earn significant amounts of money. She envisages that thousands of people may ultimately want to invest in the venture. YOUR TASK: Your firm has recommended that SBBRIS register a company to pursue the project and asked you to advise. Using ASIC's website, or the textbook (with proper referencing) prepare a comprehensive report for Dr Green on the following questions: 1. Dr Green would like to name the company Green Vegetables, Kale Invest, Hail the Kale, or LoCal Kale. Are any of the names available? (2 Marks) (50 words) 2. If Dr Green would like to reserve any of the above names, if available, is there a possibility for doing so, and if so, for how long can a name be reserved? (2 marks) (50 words)

Answer rating: 100% (QA)

Comprehensive Report for Dr Nicola Green Subject Company Name Availability and Reservation Dear Dr G... View the full answer