1. Provide the definition of an intellectual property. Compare and contrast patents and trade secrets. When might a business owner choose a patent over a trade secret? When might a business owner choose a trade secret over a patent?
2. What is Alternative Dispute Resolution? Compare and contrast arbitration and mediation. Are there advantages/disadvantages to businesses requiring current and incoming employees to sign mandatory arbitration agreements rather than allowing employees to bring their grievances directly to court? Describe how the contract elements of AGREEMENT and CONSIDERATION come into play when an employer wants a mandatory arbitration agreement to be valid and binding.