Ethics and Intellectual Property Essay Example | Topics and Well Written Essays - 750 words - 1

Ethics and Intellectual Property - Essay Example The essay will focus on the LG- Samsung intellectual property dispute. The business environments are essential and laws put in place are aimed at ensuring the environments remain competitive and accommodate diversity. The ethical issue arises when individuals or groups bridge the intellectual property clause. The manner in which people solve disputes will determine their future relation. The private space needs to be protected and it is up to the laws to protect these rights. The essence of intellectual property regulation is to create the private spaces. The moral aspect emerges when a party infringes the property rights or steals an idea or a product that was initially designed by a different party. In the case of LG versus Samsung, the firms as used each other of have stolen technologies in their mobile phone products and other household electronics (Yoon-Seung, 2015). There is the argument of competitive advantage. Samsung engages in a legal proceeding for damages after it alleged LG infringed the intellectual property rights after it produced products similar in shape and design as those produced by Samsung (Yoon-Seung, 2015). The dispute emerges whenever the rival firm uses product designed by another firm with no permission. Patents and copyrights are meat to ensure a firm protects its rights and in an event the rights are infringed, the law protects their ri ght. The law outlines how different firms may deploy legal means or mediation to settle dispute relating to intellectual property. The protection of intellectual property is applicable to both established firms and new venture. The nature of protection may vary depending on the local regulation. Intellectual property can be protected thought copyrights, service rights, patent, and trademarks. The nature of product will determine the manner in which a given product is protected through the intellectual property laws. The stolen technology by both Samsung and LG