TheUseofContractstoProtectPropertyRights.doc The Use of Contracts to Protect Property Rig

TheUseofContractstoProtectPropertyRights.doc  The Use of Contracts to Protect Property Rights  LAW/531  The Use of Contracts to Protect Property Rights  Using contracts to protect property rights is very important. In the case of Wrench LLC v. Taco Bell Corporation, the importance that a contract has between any parties can be seen. In the following it will be discussed what type of intellectual property was involved in this case and if they would qualify for protection under the law. Also, it will be discussed the difference between an implied-in-law and an implied-in-fact contract and which of these was issued in this particular case. It will also be discussed what each party could have done differently to protect their own rights and avoid this dispute. In addition, it will be explained how a proper contract would have helped this case. It will be explained what elements would have been needed for a proper contract. Knowing this information is important to avoid any legal problems in the future involving one™s property.   Intellectual Property Involved  In the case Wrench LLC v. Taco Bell Corporation, the Psycho Chihuahua cartoon character. Thomas Rinks and Joseph Shields created this character and when Taco Bell employees, Rudy Pollak and Ed Alfaro saw this character they wanted to incorporate in their marketing strategies to attract more customers. After the sharing of information Taco Bell employees decided not to do business with Wrench LLC and decided to pass on the idea to another marketing company and they mad