iPierian is a leading biopharma- ceutical company that is on the forefront of developing therapies for disease using patient-derived induced pluripotent stem cells (iPSCs). Never heard of iPSCs before? Well, iPierian may be changing that. Have no idea how iPSCs work and what they do? Well, don't feel too badly, only a few of the medical elite truly understand the science behind the pluripotent stem cells. And after a recent round 2 of investment funding totaling $28 million, iPierian is more intent than ever of keeping their specific knowledge on the subject out of the hands (or brains) of their competitors.Proof of their intense need for intellectual property protection is evident in their announcement today. On September 30, 2010, iPierian announced that they have appointed Wayne Montgomery, J.D., as Vice President, Legal Affairs and Intellectual Property. Wayne has spent 20 years in protecting intellectual property. And he has spent twenty years doing so in the biopharmaceutical industry. This makes him more than a so-so choice for iPierian.
Whether or not iPierian will make definitive strides in developing successful therapies for neurodegenerative diseases, including spinal muscular atrophy (SMA), amyotrophic lateral sclerosis (ALS) and Parkinson's disease is largely yet to be seen. As a society we certainly hope such scientific achievements are within the reach of these talented teams. And as these landmark therapies are developed, in order to repay investments, fund additional research, and secure future profits, intellectual property will remain of vital importance to iPierian.
Sample Test Question: Task 1-F-2
Samantha is the purchasing manager for iABC, a high-tech company on the forefront of developing cloud based software services. Intellectual property is the largest asset the company owns. Samantha works with suppliers that provide software design and development services that augment iABCs services and products. In an effort to protect the intellectual property of her organization, which of the following is the LEAST appropriate time for her to have a supplier sign a nondisclosure agreement:
A) Prior to sending out an RFP that contains proprietary information
B) Prior to allowing a visit with engineers at her company's facility
C) Prior to awarding a purchase contract
D) Prior to initiating an ESI program
3 comments:
The answer is option A).
At RFP stage, proprietary information can be protected by labeling the content as "Confidential" and moreover the information shared with supplier may not be that critical to have the supplier sign an NDA.
The other three options of the question warrants purchasing manager to protect the IP having supplier sign an NDA.
Satyam,
Actually, I was going for answer #C. I think I could re-word this though to make it more clear. I could say "which of the following is the LEAST appropriate time for her to have the supplier agree to nondisclosure terms". And note that answer A states the RFP does contain proprietary (i.e. sensitive) information.
Basically my thinking was that just prior to awarding a purchase contract is too late to wait to discuss non-disclosure, nor does the act of awarding a purchase order necessarily warrant the need for a non-disclosure. (Though you might assume that completing the terms of the purchase order would warrant non-disclosure.)
Non-disclosure should be discussed and agreed to prior to sending an RFP with confidential information, prior to on-site visits, especially with engineers, and prior to an ESI program as all three imply in-depth discussions.
Would you agree with Answer C if I were to re-word the question slightly?
Debbie
Amen! Thank you Debbie. Now I got it.
Satyam
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