Question

Fred is angry. He claims his roommate, Edward, stole his idea for a new mobile app. Now Edward has successfully released the app to much fanfare. Fred is demanding that he be compensated for his idea and names what he believes to be a fair price. Edward argues that he is the one who spent the resources developing the app and marketing it. Edward claims that you cannot assess an idea using price as a factor because it is intangible and involved nothing more than having an insightful thought for a new app. Edward is correct in his assertion.

a. True
b. False

Answer 1

False

Step-by-step explanation:

The creator of an idea has the right to bring charges against another party that steals the idea to develop a product.

Copyright is the right that someone that owns an intellectual property has to give consent to other parties when they want to use their ideas.

Before Edward used Fred's idea he should have requested permission first or bought copyright to the idea.

Intellectual property is just like any other asset that has value.

So Edward was wrong when he said that you cannot assess an idea using price as a factor because it is intangible and involved nothing more than having an insightful thought for a new app.