Summarize at least one (1) current example (within the past two [2] years) of intellectual property theft, and examine the effect on that company’s brand. Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property

Summarize at least one (1) current example (within the past two [2] years) of intellectual property theft, and examine the effect on that companyâ€s brand.
Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property

Due Week 9 and worth 300 points

You are a new associate at the law firm of Dewey, Chetum, and Howe. John, a former researcher at PharmaCARE, comes to your office. He has concerns about PharmaCAREâ€s use of AD23, one of the companyâ€s top-selling diabetes drugs. Two (2) years ago, after PharmaCAREâ€s research indicated that AD23 might also slow the progression of Alzheimerâ€s disease, John and his team of pharmacists began reformulating the drug to maximize that effect. In order to avoid the Food and Drug Administrationâ€s (FDA) scrutiny, PharmaCARE established a wholly-owned subsidiary, CompCARE, to operate as a compounding pharmacy to sell the new formulation to individuals on a prescription basis. CompCARE established itself in a suburban office park near its parentâ€s headquarters. To conserve money and time, CompCARE did a quick, low-cost renovation.

CompCARE benefited from PharmaCAREâ€s reputation, databases, networks, and sales and marketing expertise, and within six (6) months had the medical community buzzing about AD23. Demand soared, particularly among Medicare, Medicaid, and Veterans Affairs patients. Seeing the opportunity to realize even more profit, CompCARE began advertising AD23 directly to consumers and marketing the drug directly to hospitals, clinics, and physician offices, even though compounding pharmacies are not permitted to sell drugs in bulk for general use. To circumvent this technicality, CompCARE encouraged doctors to fax lists of fictitious patient names to CompCARE. PharmaCARE sold CompCARE to WellCo, a large drugstore chain, just weeks before AD23 was publicly linked to over 200 cardiac deaths.

As CompCARE and its new parent company enjoyed record profits and PharmaCAREâ€s stock price approached $300 per share, reports started surfacing that people who received AD23 seemed to be suffering heart attacks at an alarming rate. The company ignored this data and continued filling large orders and paying huge bonuses to all the executives and managers, including John, whose wife recently died from a heart attack after using AD23.

John has come to you with an internal company memo describing the potential problems with AD23, and information describing the companyâ€s willingness “roll the dice” and continue to market the drug.

Your senior partner has asked you to write a memo outlining the following issues for review by the senior partners.

In preparation for this assignment, use the Internet or Strayer Library to research examples of intellectual property theft that occurred within the past two (2) years.

Write an eight to ten (8-10) page paper in which you:

Research three to five (3-5) ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety and examine whether PharmaCARE violated any of the issues in question.
Argue for or against Direct-to-Consumer (DTC) marketing by drug companies. Provide support for your response.
Determine the parties responsible for regulating compounding pharmacies under the current regulatory scheme, the actions that either these parties or the FDA could / should have taken in this scenario, and whether PharmaCARE could face legal exposure surrounding its practices. Support your response.

The post Summarize at least one (1) current example (within the past two [2] years) of intellectual property theft, and examine the effect on that company’s brand. Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property appeared first on My Nursing Term Papers.

We provide plagiarism free assignment answers written from scratch. Our online essay writers provide an individual approach to every single assignment


If you are looking for fast and reliable online essay writing help, you have just landed on the right page. From now on, you can stop worry and forget about writing assignments: your college papers are safe with our online academic writers


ORDER A SIMILAR ESSAY WRITTEN FROM SCRATCH

PLACE YOUR ORDER