A research scientist at a new start-up company buys a novel monoclonal antibody from a reagent supply company, then modifies this antibody to create a new drug that shows strong activity against the COVID-19 virus in vitro. A patent application is filed, and the startup company raises more funding from investors based on this new drug and its potential. However, when the patent application is published (18 months after the filing), the company receives a legal letter from the owners of the original reagent (a US biotech company), threatening breach of contract, patent infringement, damages, and demanding that the company assigns the patent application to it. The key information about this IP scenario: This is a modified scenario of an existing IP challenge at Deakin Research Innovation team, one of our senior commercialisation staff is working on this problem. When buying reagents, there is a license agreement that comes with them and it specifically forbids the use of the reagent for commercial research, and may also exert ownership of anything created with that reagent. Please note scientists working for startup companies can be deemed to be doing commercial research, and may not have the same freedoms as a scientist working at a university; therefore they could not freedom to operate exemption that exist in some countries for university researchers. Questions to be answered from your report: 1. Who are the stakeholders in this IP challenge scenario? 2. For each stakeholder, please indicate whether they are IP protected or not?