Moderna has sued Pfizer and its German partner BioNTech for patent infringement in the development of the first COVID-19 vaccine approved in the United States, alleging they copied technology that Moderna developed years before the pandemic.

 

"Moderna expected companies such as Pfizer and BioNTech to respect its intellectual property rights and would consider a commercially reasonable licence should they request one for other markets," it said.

 

An asset is a resource:

(a) controlled by an entity as a result of past events; and

(b) from which future economic benefits are expected to flow to the entity.

 

Answer the following questions:

A) Does Moderna's patent meet the definition of asset in the conceptual framework for financial reporting above?

 

B) Argue whether Moderna' sue for patent infringement is unethical or the patent is a sacred value which deserves to be protected. (This is an open-ended question that cannot be answered with a simple 'yes' or 'no', and instead require the respondent to elaborate on their points)?

Answer rating: 100% (QA)

A Yes Modernas patent meets the definition of an asset in the conceptual framework for financial rep... View the full answer