Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Chapter 4: Intellectual Property
The importance of intellectual property
Chapter 4: Intellectual Property
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Chapter 4: Intellectual Property
Intellectual property are the legal rights (control and ownership) of creations, such as ideas; inventions; designs, etc. for the use in commerce (Bainbridge, 2012). Intellectual law in countries seeks to deter individuals or organizations from copying or capitalizing upon another’s work. The main areas protected by protect intellectual property law include: patent, copyright, trademark, and trade secret. Intellectual Property can be categorized under the following:
Monopoly Right to prevent copying
De Facto Monopoly
Contractual
Patents Unregistered Trade Marks Trade Secrets
Confidential Information
Registered Trade Marks Unregistered Designs
Know-How
Registered Design Copyright
This essay focuses on Patents, Registered Designs, Unregistered Design Right and trademarks.
A patent is needed to increase innovation and competition. It is an issued document which is applied for and is granted by a governing body that states that an invention which is patented is legally bound to its owner for exploitation i.e. manufacturing, use, sales and imports. A patent is generally issues for 20 years and their costs generally depend on the stage of the application process. In the UK, the total cost of a patent could be estimated at £5000 over 5 years. International patents (PCT) on the other hand could total £7000 over 2.5 years. This is because within the UK, the examination of patentability stage is generally cheaper (£1500) compared to the International equivalent (£300) but most importantly the closing process in the International patent application could be in a range of £0 – £30,000, whilst the UK patent end stage is approximately £100 (HGF, 2014). Patents could give the product or idea not only a competitive a...
... middle of paper ...
...ion of Time Warner Price paid: $147 billion, of which $128 billion was for IP (87%)
Examples of the value of patents include:
• Nortel, a former Canadian telecommunications company, had a patent portfolio of over 6000 patents. Notable companies like Google bidding; later sold to other notable companies including Apple, Microsoft, RIM, EMC, Ericsson and Sony for $4.5Bn.
REFERENCES
Bainbridge, D. (2012). Intellectual Property. Pearson; 9 edition.
Department for Business, Innovation & Skills, Intellectual Property Office, (No date). Designs: How to Protect your Design. London: HMSO
Department for Business, Innovation & Skills, Intellectual Property Office, (No date). Trade Marks: Quick Facts. London: HMSO
Harrison Goddard Foote LLP, (2014). Intellectual property workshop
World Intellectual Property Organization, Intellectual Property Handbook, (2008).
(7) Hall B. Patents and Patent Policy -. 2007. The 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' of the Morse H. SETTLEMENT OF INTELLECTUAL PROPERTY DISPUTES IN THE PHARMACEUTICAL AND MEDICAL DEVICE INDUSTRIES: ANTITRUST RULES. Allison JR, Lemley MA, Moore KA, Trunkey RD. Valuable patents. Geol.
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
“Protecting your intellectual property is crucial to your business.” (Hinson, 2014) When business have intellectual property that is going to be popular or helpful in advancing there business, they have to take measures to ensure that the ideas or prototypes are protected from other that may steal the intellectual property. In the United States, many laws or safeguard steps have to be followed in order to preserve the intellectual property. A business owner has the right to protect the intellectual property, because the failure to do so could result in demise of the business itself.
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).
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
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.
The idea of giving creators a limited exclusive right to their intellectual property began in England in 1710. The “Statute of Anne,” inspired our Founding Fathers and was incorporated into the United State’s Constitution. There are three types of intellectual property. Trademark ™, Copyright ©, and Patents. The last two are more controversial because they both give the creator exclusive rights to their invention/writing for a limited time. They were meant to benefit both society and creator. Unlike copyright, patents further prevents another company from reverse-engineering the product and selling it for less. Patents are also harder to get; To get a patent it has to be approved by the United States Patent and Trademark Office (USPTO). Although the fashion industry has benefited from not having patents; Competitors constantly steal ideas from each other and cost for consumers are lower as a result. The existential U.S. Patent laws we have today are counter productive and slow the process of innovation in other fields.
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.
The UK Intellectual Property Office, The US Library Of Congress, 2010-2013. Web. 27 Feb 2013. .
Intellectual property (IP) is defined as property that is developed through an intellectual and creative processes. Intellectual property falls under the category of property known as intangible rights, which includes patents (inventions of processes, machines, manufactures, and compositions of matter), copyrights (original artistic and literary works of), trademarks (commercial symbols), and trade secrets ((product formulas, patterns, designs). Intellectual property rights has a significant value to both individuals and businesses, providing in the case of large companies, over one half of their value on return. Since intellectual property rights are so important to the U.S. economy and its citizens, federal and state law provides protection, for example, civil damages and criminal penalties to be assessed against infringers. Due to the importance of intellectual property to a business, I don’t think that its protection and enforcement is going to be a thing of the past.
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.
[i]nformation that derives its intrinsic value from creative ideas. It is also information with a commercial value. Intellectual property rights (IPRs) are bestowed on owners of ideas, inventions and creative expression that have the status of property. Like tangible property, IPRs give owners the right to exclude others from access to or use of their property. (United States Information Agency, "Intellectual Property Rights Protection")
Dictionary.com states that a patent is “the exclusive right granted by a government to an inventor to manufacture, use, or sell an invention for a certain number of years (www.dictionary.com).” There are three types of patents: utility, design and plant. Uspto.gov states that a utility patent is “Issued for the invention of a new and useful process, machine, manufacture, or composition of matter, or a new and useful improvement thereof, it generally permits its owner to exclude others from making, using, or selling the invention for a period of up to twenty years. A design patent is issued for a new, original, and ornamental design embodied in or applied to an article of manufacture, it permits its owner to exclude others from making, using, or selling the design (www.uspto.gov).” In the textbook Entrepreneurship: Successfully Launching New Ventures states that a plant patent “protects new varieties of plants that can be reproduced asexually (Barrigner & Ireland, 2012, pg.
Patent is something that first came during Italy's Renaissance era. Originally patent was created as a way to attract skilled people in certain cities of the country. The idea was to give people the exclusive right when they created something. The reward was that they would be the only one exploiting that skill or idea in the region. And when you are in a position of monopoly, this usually means more business and profits. Therefore, these skilled geniuses were more inclined to come to a place when they knew that their efforts would be entirely protected and fully rewarded. This was a great plan to attract innovative people while developing the economy of the city.
Patents claims focus of the mechanism, principles and components surrounding those ideas. Patents are the strongest of the law to protect the intellectual property. Patent law is based on a very strict liability standard, making a business owner’s strongest option for intellectual property protection. Patents often make use of reverse engineering. Through reverse engineering, they see if patented inventions are in used by another company. Patents have an expiration date; the design patent protect design, shape, configuration and appearance of any invention for 14 years, and utility patents that protect functional makeover and new invention last for 20