For this LO, I decided to delve my mind and understanding into some research on copyright and contract management. Kerzner (2009. p839. Project Management) denotes that “In general, companies provide services or products based on the requirements set forth in invitations for competitive bids issued by client or the result of direct contract negotiations with the client. One of the most important factors in preparing a proposal and estimating the cost and profit of a project is the type of contract expected. The confidence b which a bid is prepared is usually dependant on how much of a risk the contractor will incur through the contract. Certain types of contracts provide relief for the contractor since onerous risks exist. The cost must therefore consider how well the contract type covers certain high and low risk areas.” In the audio industry , these rules consistently apply to a large degree and usually with a high regard to client briefs and expectations. In today’s contemporary society it would be absurd to enter into an exchange of goods and services without some type of agreement or contract in place before any work production begins to take place.
In addition, Howkins (2013. p 45) explains that managing ideas exists within an economy of ideas and this environment adheres to many distinct relationships. He writes that “there are people on both sides of the creative /business coin who believe creativity and business are incompatible and may even be mutually destructive, the manager’s task is to manage this tension and to develop and enhance ideas rather than stifle them, whether as individuals trying to organise their relationship to an idea or as executives who want to optimize a company’s negotiating power over an asset. It is important to know what these assets are or could be. they’re a mixed bunch, a floating population, of ideas and meanings. Some are public and up-for-grabs while others are private and controlled b people who come and go with their own personal views and expectations and resist being tied down, although occasionally their ideas can be caught in the net of a contract and sold on with confidence. Managing creativity starts with understanding the make-up of the various assets you already have or need from others. The point of trademarks, copyright and patents is to restrict this kind of coping or free-riding either absolutely of for a price. In order for some people to benefit, others must go without. There is fierce debate about the social utility of this exchange. Some say these monopolies are necessary to reward innovation and that intellectual property rights are a good way to allocate resources.
Like most laws, it is important to acquaint one’s own interests and benefits from those laws and become aware of the legislation according to individual benefits and needs. With the internet highway available to view most things of the intellectual property nature, it is important to seek that awareness.