Law and Ethics for Business Owners
Entrepreneurship Law
Final Exam
1. Who owns the CadWatt Solar cell technology? What rights, if any can SSC claim on it?
SSC owned the technology, because the invention related to the SSC’s business and he had used some of SSC’s resources (namely, his SSC computer and SSC training sessions) when developing it.
2. What can Pierre do to make his departure from SSC amicable? Should he have left sooner? What ongoing obligations does he have to SSC?
Pierre should consider returning all the documents and electronic devices in which he had at hand. Pierre has a non-disclosure provision that prohibits Pierre from using or disclosing any confidential information that he learned while working for SSC. To leaving sooner he should have left before developing the company with Maya because he would have not had to go through these legal issues.
3. Can Pierre ask several of his colleagues at SSC to join his new enterprise?
If people ask about his plans, he informed them that he was leaving to start a new business and gave them a phone number where they could reach him.
4. Should Pierre and Maya hire an attorney? How do they select the right one?
Pierre and Maya should hire a attorney. They should go with a attorney that is experienced in representing high-tech startups.
5. Given their limited budget, can Pierre and Maya afford an attorney? Can they afford not to get one?
Pierre and Maya cannot afford to not hire a attorney. Counsel will allow them to turn around documents as quickly as them need them.
6. What would be an appropriate legal form for the business from a liability and tax standout?
Pierre should establish the company as either a LLC or a corporation. Which would specify the ownership interests by specifying how they would share profits, losses etc.
7. How should Pierre and Maya approach the issue of splitting the equity in the new venture between them?
Pierre and Maya concluded that Pierre should be
Final Exam
1. Who owns the CadWatt Solar cell technology? What rights, if any can SSC claim on it?
SSC owned the technology, because the invention related to the SSC’s business and he had used some of SSC’s resources (namely, his SSC computer and SSC training sessions) when developing it.
2. What can Pierre do to make his departure from SSC amicable? Should he have left sooner? What ongoing obligations does he have to SSC?
Pierre should consider returning all the documents and electronic devices in which he had at hand. Pierre has a non-disclosure provision that prohibits Pierre from using or disclosing any confidential information that he learned while working for SSC. To leaving sooner he should have left before developing the company with Maya because he would have not had to go through these legal issues.
3. Can Pierre ask several of his colleagues at SSC to join his new enterprise?
If people ask about his plans, he informed them that he was leaving to start a new business and gave them a phone number where they could reach him.
4. Should Pierre and Maya hire an attorney? How do they select the right one?
Pierre and Maya should hire a attorney. They should go with a attorney that is experienced in representing high-tech startups.
5. Given their limited budget, can Pierre and Maya afford an attorney? Can they afford not to get one?
Pierre and Maya cannot afford to not hire a attorney. Counsel will allow them to turn around documents as quickly as them need them.
6. What would be an appropriate legal form for the business from a liability and tax standout?
Pierre should establish the company as either a LLC or a corporation. Which would specify the ownership interests by specifying how they would share profits, losses etc.
7. How should Pierre and Maya approach the issue of splitting the equity in the new venture between them?
Pierre and Maya concluded that Pierre should be