This week, I was able to delve into the complexities of real, personal, and intellectual property. I read Chapters Eight and Nine of The Legal and Ethical Environment of Business by Lau and Johnson, which gave me a comprehensive understanding of these concepts.
In Chapter Eight, I learned about real property, which refers to land, buildings, and other permanent structures, and personal property, which refers to movable objects such as jewelry, furniture, and other personal belongings. I found this distinction particularly useful in understanding the different forms of property and how the law governs them.
Chapter Nine provided me with a comprehensive understanding of intellectual property, which refers to intangible creations of the human
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This exercise required me to consider this issue's legal, ethical, and social implications. After conducting research and careful consideration, I concluded that businesses should be able to preserve their property rights by patenting modified organisms, but with certain limitations and regulations in place to ensure that such practices do not restrict competition and access to essential technologies.
To further consolidate my understanding of these concepts, I also completed a written assignment where I had to argue for and against businesses being able to preserve their property rights by patenting modified organisms. I referenced the United States Supreme Court decision of Diamond v. Chakrabarty in my argument, which ruled that a living organism can be patented if modified in a way that is not naturally occurring.
Overall, this week has been a valuable learning experience for me. I have gained a comprehensive understanding of real and personal property and intellectual property, and I look forward to further expanding my knowledge in this