Intellectual property rights give the creator exclusive rights to the intellectual property for varying lengths of time, depending upon the type of intellectual property. It is an intangible asset to a company. Business partners and financial institutions will have confidence to invest or collaborate with the organization. In addition to protecting their creation, business owners can maximize the value of their IPs in many ways. They can franchise, license out or transact their IP.
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.
Patent refers to the owner whom is the right granted of an object, product or a process that he/she invented. This will prevents others from making, using, importing or selling the invention without his/her permission. A person gives a new technical solution or a description of what are the solutions to solve the problem of the technical. Once they approved, the patent will last for 20 years from the date of filing. Other than using patent to prevent others from exploiting your invention, you can employ it to raise funds for your business, license it to third parties for commercial returns or sell the patented invention.
A trademark is a distinctive indicator that used by a company or business to identify the brand, products or services. And the trademark can represent a logo, symbol, word and graphic. You can protect your logo or signature by applying/register through IPOS so that others will not have the chance to grab your ideas or even modify to look similar. Once acquired, a trademark can last indefi...
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...ated with a single company’s products.
A trade secret can be continued to be use exclusively by a company for an indeterminate length of time if it is not discovered. It consists of information that is patentable. If a trade secret is discovered, its intellectual property rights are lost. Under the law, trade secret is protected from everyone except certain key individuals within the business or company. If someone reveals this secret information to others, legal action can be taken against him.
Trade secret can be protected when the company limits number of people who can access this information, and have employees sign non-disclosure agreements. Any individuals who come into contact with the business or company should also sign non-disclosure agreements. Companies should also keep a clear record of all business deals that may contain any confidential information.
“A patent is an intellectual property right granted by the Government of the United States of America to an inventor “to exclude others from making, using, offering for sale, or selling the invention throughout the United States or importing the invention into the United States” for a limited time in exchange for public disclosure of the invention when the patent is granted.” ("Patents," 2014) There are three types of patents, utility, design, and plant. Utility patents protect useful process, machines, article of manufacture, and composition of matter. Design patents pro...
According to our textbook, “Real property constitutes land and all things permanently attached to it (i.e. a house, a tree or coal below land). Intellectual property such as copyrights, patents and trademarks is personally owned but generally treated as a separate form of property by the law. Personal property is characterized by its portable nature; it can be carried from place to place (i.e. tangible personal property or intangible personal property)” (Roger, 2012).
Our constitutional liberties referencing property rights have faded over the years by virtue of the over-reach of the federal government by their collusions and conspiracies among the different branches; thereby, infringing on the rights of individuals and the states. For example, the Constitution does not grant the national government jurisdiction over education, housing, agriculture, or energy; however, they have gotten around this by creating cabinet/committee level status (e.g., HUD, FTC, FDA, OSHA, SEC, EPA) in D.C. by Congress, administered by the executive branch with the court?s approval. James Madison captured the essence of federalism in The Federalist No. 45. He condemned the aggregation of all powers (legislative, executive, and judicial) in the same hands; whether of one, few, or the majority; whether hereditary, self-appointed or elected, may legitimatize the very definition of tyranny. James Madison, Property: The Founders Constitution, (Vol 1. Chap. 16. Document 23. 29 March 1792).
A trademark is a familiar sign, design or expression which identifies products or services of a specific source. It can be defined also as anything which takes a distinctive form terms, words, signatures, letters, symbols, titles, tax stamps, pictures, inscriptions, advertisements or packs or any other mark or a combination thereof, used or is intended to be used, either in distinguishing goods, products or services whatever their origin is, or to show that goods or products are owned by the mark owner by virtue of their manufacture, selection or dealing in, or to indicate the performance of a service.
Also during her presentation she mentioned the different kinds of intellectual property, something we discussed in class. They included copyright, patent, trademark, and trade secret. The differences between them are as follows; copyright protects a creative expression. Patent protects useful inventions. Trademark protects corporate identities and products and trade secret protects formulas and processes that are not easily discovered.
Intellectual Property: (noun) A work or invention that is the result of creativity, such as a manuscript or a design, to which one has rights and for which one may apply for a patent, copyright, trademark, etc.
The definition of trade secret varies by jurisdiction. According to World Intellectual Property Organization (2013), broadly speaking, it is any confidential business information which provides an enterprise a competitive edge. The Uniform Trade Secret Act (19...
Not all of the information pertaining to your company can be considered a trade secret. Trade secrets generally are information that you reasonably want to remain confidential and is valuable because of its confidential nature. Trade secrets can also provide the owner of it with a competitive advantage in the marketplace. Another way to look
Intellectual property is the product of creative thought. Intellectual property law establishes rules for the registration, administration, sale, licensing, and dispute resolution of intellectual property (Stim, 2017). By taking the necessary steps to claim
Governments provide the legal and social framework in market economies by establishing and protecting the rights to private property and to the economic gains derived from the use of that property. The government's protection of private property extends to land, factories, stores, as well as intellectual property. Intellectual properties are protected by exclusive rights, called copyrights, to protect such things as books, music, films, and computer software programs, etc; or patents, protect other types of inventions, designs, products, and manufacturing processes. These exclusive issued rights give the holders the rights to sell or market their products and creations for a specified period of time.
Espionage is defined as the act or practice of spying.1 The term ‘industrial espionage’ , also known as ‘corporate espionage’ or ‘cyber espionage’, is the act of stealing trade secrets through the removal, duplicating or recording of highly confidential or valuable information in order to gain a competitive advantage. It is defined as the use of illicit means by more aggressive competitors to disrupt their rival’s operations or gain access to their sensitive information for a better competitive edge.2 While industrial espionage involves the theft of information for commercial purposes, which is obviously illegal, competitive intelligence is the legal gathering of information through conventional practices such as picking up scrap information through attending trade shows or through sources readily available i.e. corporate publications, patent filings and websites.3 Trade secrets are a form of intellectual property thus industrial espionage is most commonly linked with technology-heavy industries, especially in the computer and auto sectors where a great deal of money is splurged on research and development since technological change in this modern era has become a growing importance to business performance.
There are many reason that why is it important to protect one’s intellectual property. Some of the reason are Creator being accused as a theft, Loss of Reputation, Loss of income, Loss of Asset and Loss of Authority Rights.
Intellectual property is the ownership of ideas as well as the control over the tangible or virtual representation of those ideas. Software is intellectual property, as are books, movies, and music.Like music performers and authors, software developers use copyright laws to protect their work and their investment in the field. The theft of intellectual property thus eliminates the resources used to develop newer and better products.
Intellectual property is the legal term for an idea or knowledge that has been expressed in tangible form. Copyright is a subset of intellectual property, providing the legal framework intended to protect a creator 's original ideas, theories and concepts. It permits the right to publish, copy, or reproduce any original literary, dramatic, musical, or artistic work. In return, creators of such works receive remuneration for, and protect the integrity of the works that they have created. Under Irish Copyright law, protection extends to original literary, dramatic, musical or artistic works, sound recordings, films, broadcasts, cable programmes, the typographical arrangement of published editions, computer programmes, and original
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.