Business Torts and Intellectual Property Elizabeth K Chase Eth/321 October 23, 2017 J. William Eshelman Business Torts and Intellectual Property Intellectual Property - Intellectual property reflects on the ideas and things we can imagine and produce with our minds. Intellectual property includes anything that may be patented, owned, or protected by a trademark. There are four types of intellectual property, such as trademark, copyrights, patents, and trade secrets. Based on this week’s scenario, Sam had signed a non-disclosure agreement as a condition of his employment with ABC but unfortunately, has violated the conditions by downloading a list of customers for the company. This implies that the subject of intellectual property …show more content…
Instead, protection only takes place if measures are taken to control the dissemination and use of information. Businesses use confidentiality agreements, limited access to confidential information, restrictive post-employment agreements, and other security practices to maintain trade secrets. Employees current and old sign non-disclosures to insure these are kept safe. By protecting your intellectual property, the ABC Company must have watched competitors and others in the industry as if they were competing for their ideas. Sam as an employee had to keep these secrets to the public and then expose ABC competition to undue competition. Tort is a word developed to describe in general the different types of claims that are normally imposing economic and financial losses that are because of some kind of misbehavior, apart from breach of contract. The term is used to refer to this type of claims, false presentations, fraud, breach of contract, encouragement, unfair competition, trade name and trademark infringement and interference with business relationships (Emanuel, S. …show more content…
For example, the plaintiff must prove his wounds. In this case, we see Sam pushing Natalie in her attempt to stop him when she was running out of the office and this caused Natalie to fall and hit her head on the doorknob, she suffers a concussion and Sam made a complaint to the trustee. The relationship between employer and employee relationships is basically as an agent and the main report. The employee is essentially required to hold a fiduciary duty to the employer despite being bound by confidentiality, non-pickup and non-compete agreement. These problems are mainly due to a former employee of a company who founded a competition with the previous employer, especially when the former employee also
Define and explain the following: copyrights, trademarks, and patents. Compare the three and provide an example of each. This paper will be non-graded, but it is still highly recommended that you complete this assignment for increased practice and self-improvement.
Intellectual property is an incredibly complicated facet of the law. In the United States, we have many laws in place to control and limit profiting from others intellectual property. The issue is not only profiting from others intellectual property, but not purchasing the property from the originator as well. We will discuss why it is important to protect this property as well as why it is tremendously difficult to regulate all these safe guards. “Intellectual Property has the shelf life of a banana.” Bill Gates
Tort is a wrong that involves a breach of civil duty owed to someone else.
A tort is wrongful interference against a person or property, other than breaches of contract, for which the courts can rectify through legal action. The reform effort is aimed at reducing the number of unnecessary lawsuits that burden the court system while still allowing injured parties compensation when they’ve been wronged. This latest effort at tort reform has given rise to the same spirited rhetoric that might be found in a courtroom.
Intellectual Property Law used to only protect art, music, and literature, but because of technological development, Intellectual Property Law now also protects a greater variety of innovations including designs, inventions, symbols, discoveries, and words. The phrase “intellectual property” was first known to be used in the late 1700’s; however, it was not widely talked about, nor was the Intellectual Property Law in actuality commonly implemented. Intellectual Property Rights slowly gained more attention by mid-1800’s after the Industrial Revolution had taken place: more companies were created, competition between corporations became fiercer, and owning unique innovations were crucial to winning the competition. However, as Intellectual Property
Intellectual property abounds in our society, it is the direct result of the expression of an idea or other intangible material (Zuber, 2014). Our laws provide rights which are specific to the owner of the intellectual property. Furthermore, intellectual property is protected by laws just like tangible property is protected (Lau & Johnson, 2014). The most widely known forms of intellectual property rights include: trade secrets for confidential information, patents for a process/invention, copyrights for creative items and trademarks for brands (Lau & Johnson, 2014). While these rights may appear very defined, there are times when questions
after suffering harm from the acts of the other party (Turner, 2013). A tort is a civil wrong
Intellectual property consists of the fruit of one’s mind and not one’s hands. The laws of intellectual property protect property that is primarily the result of mental creativity rather than physical effort. When we are thinking about rights of any kind, it is important to remember that society, through laws, decides what rights individuals and communities have with regard to property.
Intellectual property is a broad concept that covers various forms of knowledge that can be assigned specific rights relating to intellectual creativity or related ideas. (against ip 9)(word report 13). This allowed for laws to be formed to protect creations of the mind. It is not the idea that is being protected, but the physical form of the idea (for example, the idea of a vampire romance cannot be protected, but a specific novel such as Twilight, about a vampire romance can be protected legally). There are two main categories of intellectual property – industrial property (registered designs, patents and trademarks) and Copyright (literary works like publications, artistic works, performances, radio and television). Intellectual law generally has the following functions, even though there are differences between the various types. (pdf 3- 115)
Intellectual property rights are personal property rights acknowledged and protected as trademark, patent or copyrights. A registration of the invention or creation is necessary to gain protection through law and regulations. When we compare copyrights, trademarks and patents we can distinguish that they have differences in respect to areas of protection. While patents protect new inventions, copyright protects its unauthorized production or counterfeiting while Trademark is a brand serves to mark the goods or services of a company thus protects this good name or reputation.
Restraining the employees during the period of employment is a very common practice and it is done by the way of restrictive covenants to protect the trade secrets and the confidential information. However, this violates the fundamental right of the employee to carry out a profession or business of his choice.
Intellectual Property refers to the creation of human minds for which exclusive rights are recognised. Innovators, artistes and business owners are granted certain exclusive rights to a variety of intangible assets for a specified duration. To a company, intellectual property is an intangible asset. It gives financial institution and business partners the confidence to collaborate with or invest in the organisation. Business owners can also maximise the value of their intellectual property by transacting, franchising or licensing out.
First, a tort discussed in the Essentials of Business Law book is negligence. Failing to exercise reasonable care to protect others from risk or harm is considered negligence (Luizzo, 2016). Recently, due to the success of cases against negligent individuals and business, it has become a more common practice. For example, a person may now be more encouraged to sue a company due to an injury caused by a certain product. However, even when it’s not an
There are 8 different types of (IP) Intellectual Property; they are patent, trademark, registered design, plant varieties protection, copyright, and layout-design of an integrated circuit, geographical indication and trade secret.
Intellectual property is information, original ideas and expressions of the persons mind that have profitable value and are protected under copyright, patent, service mark, trademark/trade secret regulation from replication, violation, and dilution. Intellectual property includes brand items, formulas, inventions, data, designs and the work of artists. It is one of the most tradable properties in the technology market.