Dry. Nearness’s Dilemma Written Analysis and Communication I Rushing Patella (Section D) Submitted to Proof. Rhino Patella Mrs.. Paola Thomas on July 2nd, 2011 Indian Institute of Management, Mohammedan. Letter of Transmittal TO Dry. Meridian Indian Medical (Asides) College (MIMIC) Achaean, Tamil Nadia Subject: Suggested course of action for Dry. Meridian Dear Dry. Meridian, Attached herewith is a short report analyzing the various alternatives available to you in response to Dry. Rampart’s request regarding acquiring and commercialism patent on his research.
After evaluation of various options, the recommended elution Is to sign an agreement with a manufacturer and gain annual royalties on sales of medicine. Detailed analysis is presented in the report attached herewith. Regards, Rusher’s Patella student, WIMP Jan 5th, 2011 Executive Summary The key problem to be addressed is how to respond to the request made by fellow faculty member Dry. Earmark to ensure the intellectual property protection and centralization of his formulation targeting coronary atherosclerosis and what might be the possible repercussions of the decision on MIMIC and Asides medicine system.
The Recommendation 9 Action Plan 9 Exhibits…. Situation Analysis Indian Medical College (MIMIC) was established in 2004 in Achaean (Tamil Nadia) to be a centre of excellence in Asides medicine by imparting higher education, promoting its use and researching various aspects of it. The key problem is the proposal put forth by Dry. Earmark to MIMIC three months ago in early October 2010 that MIMIC should ensure the patenting and commercialism of his herb-mineral cardiovascular
Asides formulation that can be used for the treatment of coronary atherosclerosis. It has 90% chances of securing intellectual property rights as per a legal firm. The unique selling propositions of the formulation include non-invasive technique, cost- effectiveness, no side effects and reduction in need of vascular extents. Thus, it can be expected to have a great acceptance in market. It is understandable that the way this proposal is handled shall not only affect Dry. Earmark, MIMIC and its staff but also impact the future of Asides medicine system.
The decision might impact the two referrers researching in aneurysm and treatment of septa defects and also the future of research activities at the institute. It is also true that validating gastric procedures and preparations may serve as a means to motivate other faculty members as well. Looking at Dry. Rampart’s past record of developing useful modified gastric formulations which included a successful preparation for infertility, his new formulation can be safely presumed to be equally useful.
The information sheet he provided shows that the formulation has been through animal toxicity study and was also tried on patients yielding successful results. No Asides medicine has the acceptance of Asides medicine by alternative systems of medicine. The patenting of a Asides medicine backed by evidence of safety analysis would be a major leap towards recognition as a globally-accepted medicine system. The solutions provided by a couple of management education students seem to be quite useful but need to be carefully evaluated to find out the most optimal route and what might be its possible repercussions.
The Problem To find the most optimal solution to Dry. Rampart’s proposal, keeping in mind, the interests of MIMIC, its staff and Asides medicine system. The Options The various alternatives that can be considered include: 1. Turning down Dry. Rampart’s proposal or 2. Directly transferring the rights to a third party for a one-time licensing fee or 3. Using a registered pharmaceutical setup to manufacture the medicine, but do the marketing itself or 4. Signing an agreement with a manufacturer and gain annual royalties on sales of medicine.