Q1.

Explain the following takes ?

a. What factors are considered while writing a contract?

To write a valid contract, you need to follow a few general rules. A contract is simply a legally enforceable
promise. There's a party who makes an offer, another party who accepts the offer, and as long as
something of value (more on this definition, below) is exchanged, a court will enforce the contract. When
deciding how to write a business contract, you want to make sure that all of these elements are present,
so that if there's any dispute a court will find that there is a valid contract that it can enforce.
Write a Business Contract: Know the Basics
While numerous textbooks and treatises detail the theory behind contract law, when you sit down to write
a business contract, keep in mind these basic elements of a valid contract: intent to make a contract by
both parties a legal subject matter (you can't make a valid contract about something that's illegal, like
contracting to steal a car) an offer made by one party acceptance of the offer by the other party (there
hasn't been a rejection of the offer or a counteroffer made that hasn't been accepted) an exchange of
something of value (called "consideration" in legalese) for certain subject matter, a contract is required to
be in writing There may be further legal requirements depending on the state you live in and the subject
matter of the contract, but if you keep the above requirements in mind when writing a business contract,
you'll be on the right track.

b. You are working for twitter as application developer, you have an idea for an app, state
i.

Who will own the idea?

As per rules and regulations, the idea will be own to the company like twitter who
wants to build the app.

ii.

Who will own the work?

The developer who are working for the company in the same project will own the
work of the app.

c. How can you get the Twitter application patent?

i.

Keep a Careful Record of your invention.

Record every step of the invention process in a notebook. Describe and diagram every
aspect and every modification of the invention, including how you came up with the idea
for it. Depending on the invention, you may also want to build and test a prototype.
Document all of these efforts. Sign and date each entry and have two reliable witnesses
sign as well.

ii.

Make Sure Your invention Qualifies for Patent Protection.

You cannot get a patent just on an idea. You must show how your invention works and
your invention must be new. This means it must be different in some important way from
all previous inventions. It also cannot be for sale or be known about before you apply for a
patent. To learn more, see Qualifying for a Patent FAQ.

iii.

Assess the Commercial Potential of Your Invention.

Applying for a patent is a business decision. Even without a patent attorney or the use of
professionally prepared patent drawings, it costs approximately $1,500 in fees to file and
obtain a patent from the USPTO. Before you spend the time and money to file a patent
application, you need to research the market you hope to enter and decide whether it's
worth the outlay of funds.

iv.

Do a Thorough Patent Search.

To make sure your invention is new, you need to search all the earlier developments in
your field. This involves searching U.S. (and sometimes foreign) patents, as well as other
publications like scientific and technical journals, to find related inventions.

v.

Prepare and File an Application With the USPTO.

When you file with the USPTO, you can either file a full-blown regular patent application
(RPA) or a provisional patent application (PPA).

d. You are working in a science lab as research assistant, and design a mathematical model.
Can you file a patent for this mathematical model?
One of the key problems is that software patents are essentially patents on mathematical algorithms -- sets
of instructions for carrying out a calculation. Since it has long been a principle that you can't patent
mathematical formulae or laws of nature.

Q2. List the types of licensing agreements?

a. What are the deliverables of software project?
In project management, a deliverable is a product or service that is given to your client. A
deliverable usually has a due date and is tangible, measurable and specific. A deliverable can
be given to either an external or internal customer and satisfies a milestone or due date that is
created and produced in the project plan. A deliverable can be a software product, a design
document, a training program or other asset that is required by the project plan.

Software Products

A frequent deliverable in project management is a software product. This could be a software program
or source code that needs to be written by a specific deadline. When a software program is being
customized for a client, these software products usually are delivered in phases or releases and they
are numbered. The earliest release will contain some of the elements that will be present in the final
product. With each release, there will be product testing that allows for changes to the product prior to
the final deliverable.

Training Program
Training programs can also be a deliverable for a client. Most often, the final product is the training
program itself, but there are also other deliverables that must be produced along the way. First will be
the training design that tells the client how the training program will be developed. Another deliverable
is the training curriculum, which is an outline of the proposed training program. After a task analysis,
the training program is developed and tested and then finally approved, as the last deliverable.

Systems
Another example of a deliverable are systems. Systems can be the way a program is run or as simple
as an accounting program. Processes must be created that allow for the implementation of the
program that is being created. The roll out or implementation of the final product must be arranged,
trainers identified and trained and hardware ordered and tested. Schedules must be created and
supplies have to be ordered. All of these systems will have due dates that serve as deliverables for
your project.

Milestones
Milestones are also another example of a deliverable. A milestone is a hard and fast due date that
represents a major accomplishment during the course of the project that is being managed.
Sometimes these milestones represent the approval of a major component in the project, like approved
testing of the product for release one. Another milestone could represent approval from upper
management for the development of the software product. Milestones represent deliverables that are
significant and must be accomplished over the course of the project.

b. What is arbitration and why companies opt for this?

An arbitration agreement is a contract in which you agree to bring any legal claims you may have against
your employer to arbitration, rather than filing a lawsuit in court. Unlike civil court, where matters are decided
by judges and juries, an arbitration takes place before an arbitrator who is chosen by the parties. The parties
often don't have access to as much information from the other side as they would in a lawsuit, and the
arbitrator's decision can rarely be appealed. For these reasons, arbitration is generally seen as more
favorable to employers, which is probably why many employers ask new employees to agree to the process
up front. Most courts have found that an employer can refuse to hire employees who refuse to sign an
arbitration agreement, as long as the agreement isn't blatantly one-sided in the employer's favor. For
information on arbitration agreements and tips on negotiating with your employer for a fairer shake.

c.

Explain contract hire.

If youre considering buying a new car for yourself or your company you are
spoilt for choice by the various finance options available. However, one of
the most consistently popular choices is contract hire because it often
proves the most cost-effective and the easiest to manage.

What is contract hire?

Whenever you hear the term car leasing, chances are that it is referring to contract hire as it is
the most common form of vehicle leasing agreement.
Basically contract hire means agreeing to take control of a car for a fixed period its yours to
drive but it is never actually yours to own. Instead you reach an agreement with the leasing
company to make fixed payments (usually monthly) for the duration of the contractual period.
At the end of the contract you return the car to the contract hire company.
Your contract hire payments will be determined by a number of factors. Firstly, there is the
retail price of the car that is the price you would have to pay if you were to buy it outright.
Then, there is the residual value of the car that is its estimated worth at the end of the
contract taking into account depreciation, mileage, and condition. You then pay the difference
between the two figures in monthly instalments. So the higher the residual value of the car, the
lower your payments will be.