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.
Firstly, Creator being accused as a theft. For instance, Creator who had created its own product, design, logo, invention, name, literary, artistic works, symbols and image that used in commerce purpose. Their hard work may be taken by others if they did not protect their intellectual property well. Those who had taken this creation may have already promoting it into market and making it to be more famous by advertising and earning big money. If this creator want to sell this idea to others or use it to create its own business, People will be accusing him being a theft where he had stolen other person work. This may not only causing him to lose its hard work, he will also be blaming for stealing.
Secondly, Loss of reputation. First example, if company “A” that not do well for its protection of the intellectual property. Company “B” may use the Name of Company “A” ...
The company might face the problem of having their advanced software technology stolen because they were not protected by any patents. It is common that competitors steal somebody’s ideas and develop them. Competition will then be more intense.
“Copyright is a fundamental right of ownership and protection common to all of the arts” (O’Hara & Beard, 2006, p. 8). “It is a form of intellectual Property (IP)” and it gives the owner exclusive rights to the copyright (O’Hara & Beard, 2006, p. 11).
“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.
Co-Branding;- co-branding is when two companies together, another word two brand becoming partnership of goods and services.(Investopedia.come.2013) the advantages of co-branding companies is to increase sales and cash flow, expanding customers and joined advertising. The potential disadvantages are disagreement on decision making, might fall if the two products have different market and customer trust issues. Co-branding would not work for Holland and Barrette because it might create confusing as they have huge customers and are familiar with brand. The risk going to co-branding is loss of control; lose customers because single advertising might not cover the entire category.
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 is property resulting from intellectual, creative processes. A product that was created because of someone’s individual thought process. Examples includes books, designs, music, art work, and computer files. (Miller R. J., 2011, p. 114) In the music industry a copyright is an important tool for artist to use to protect themselves from infringers. A copyright is the exclusive right of an author or originator of a literary or artistic production to publish, print, or sell that production for a statutory period of time. A copyright has the same monopolistic nature as a patent or trademark, but it differs in that it applies exclusively to works of art, literature, and other works of authorship (including computer programs). (Miller R. J., 2011, p. 125)
This is because the person who stole the work is responsible and can be charged for breaching copyright. The designer could obtain a criminal record if convicted within a court trial. But they aren’t the only one involved with this issue. Breaching copyright would also affect the whole company as it will put a bad reputation on the business which then also puts fellow colleagues at risk of losing their job due to a low amount of business. The client who hired this person will also be involved as the person breaching copyright is working for them.
Nowadays it is extremely hard to be original in any aspect of a person’s life. Usually this is due to the fact that everyone is evolving in technology and equipment. People are always trying to get more likes on their social media websites. In order to get people’s interests, one needs to have an unoriginal way about their personality and/or style. They need to do something no one has ever done.
Because of its intangible nature, and particularly the increase of the digital domain and the internet as a whole, computers and cyber piracy make it easier for people to steal many forms of intellectual property. Due to this major threat, intellectual property rights owners’ should take every single measure to protect their rights. Unless these rights are either sold, exchanged, transferred, or appropriately licensed for use in exchange for a monetary fee, they should be protected at all cost. In order to protect these rights, the federal and states governments have passed numerous laws and statutes to protect intellectual property from misappropriation and infringement. “The source of federal copyright and patent law originates with the Copyright and Patent ...
Piracy is a form of theft. Specifically, it refers to the unauthorized copying or use of intellectual property. Intellectual property is knowledge or expression that is owned by someone. There are three major types of intellectual property: 1) creative works, including music, written material, movies, and software, which are protected by copyright law; 2) inventions, which are protected by patent law; and 3) brand-name products, which are protected by trademarks. Many of the issues surrounding piracy have to do with the difference between intellectual property and physical property. A CD, for example, is a piece of physical property, but the songs on the CD are intellectual property. A customer in a record store can purchase a CD, but someone else still owns, or more precisely, has the copyright to the songs on the CD.
Intellectual property could be described as any innovation, commercial or artistic; any new method or formula with economic value; or any unique name, symbol, or logo that is used commercially . By this creations, Intellectual Property (IP) has the rights and protected by patents and inventions: trademarks on branded devices, copyrights on music, videos, patterns and other forms of expression, state and federal laws. From this description, in stealing the IP is an easy and cheap way to do, it is an ordinary phenomenon called Intellectual Property theft, what the thief did is copying someone else’s ideas or product while the other person or company – the victim – has done all the work but the thieves got more huge profits. It resulted the
...elated Aspects of Intellectual Property Rights) has not only made it easier for companies to register their trademark in one country or another but it has also extended their level of protection against competitors or counterfeiters.
We have also looked into the other end of the stick, whether copyright is bad for creativity. The introduction of copyright does indeed restrict the ‘freedom’ for creativity, but it also protects against innovations that are merely a ‘copy’ of another’s work. It instills a discipline into innovators and allows them to think beyond the available works so as to not infringe on other’s copyright, which in turn allows truly innovative works to emerge.
Copyright is a protection for authors, composers or artists and other creators who create innovative idea base work. Copyright law is important because of its role to protect the interests of the creator, while allowing others to gain access to it legally. It designed to make sure that creators receive appropriate rights for their own ideas and creativity, and to promote artistic creativity by protecting the creator.
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.