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Protecting Intellectual Property: Notes

by: Jackline Kingori

Protecting Intellectual Property: Notes MGT 241 - 1

Marketplace > Ball State University > Business, management > MGT 241 - 1 > Protecting Intellectual Property Notes
Jackline Kingori
The Entrepreneurial Experience
Robert D Mathews (P)

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About this Document

These notes cover everything about protecting intellectual property, trademarks, copyrights, and etc.
The Entrepreneurial Experience
Robert D Mathews (P)
Class Notes
Entrepreneurial, MGT 241, The Entrepreneurial Experience
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This 7 page Class Notes was uploaded by Jackline Kingori on Friday October 9, 2015. The Class Notes belongs to MGT 241 - 1 at Ball State University taught by Robert D Mathews (P) in Fall 2015. Since its upload, it has received 24 views. For similar materials see The Entrepreneurial Experience in Business, management at Ball State University.

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Date Created: 10/09/15
Protecting Intellectual Property What is Intellectual Property 0 IP is any product of the human intellect such as an idea invention expression unique name business method industrial process or chemical formula which the courts are willing to protect against unauthorized use by others 0 Only dealing with Domestic IP What is the Basis of IP Protection in the US o quotThe Congress shall have power to promote the progress of science and the useful arts by securing for limited times to authors and inventors the exclusive right to their respective writings and discoveries 0 Article paragraph 8 clause 8 of the US Constitution 0 US Patent and Trademark Of ce opened in 1780 by Thomas Jefferson then Secretary of State IP Topics Patents Copyrights Trademarks Trade Secrets Leveraging and Licensing P Patents What is a Patent a contract with a particular government ling in one country may not protect the inventor in other countnes that protects new useful and nonobvious machines processes articles of manufacture and compositions of matter not known or used before invention date not disclosed gt1 year before application speci c v general and substantial in current form utility must be defended all quotprior artquot must be uncovered differences must be quotsuf ciently different ideas mathematical formulae and laws or products of nature are excluded by granting the applicant a temporary monopoly rigm to prevent others in that country from making using selling or importing the invention de ned by the claims of the application making using or selling the technology may still require obtaining permission from others holding other patents on core technology in exchange for disclosing the invention in suf cient detail that a person quotordinarily skilled in the artquot could build and operate it What Types of Patents Are There 1 Utility Patents protect functional features for Q years aerosol spray device 2 Design Patents protect ornamental design for H years triplegooseneck lamp 3 Plant Patents protect invention or discovery and reproduction of new plant varieties for Q years Fresh Del Monte CO2 pineapple How Is a Patent Processed 1 Applications are led with the US Patent and Trademark Of ce of the Dep t of Commerce speci cations quotprior artquot written description and drawings claims warning public about what is considered infringement 2 quotPatent PendingLis issued while reviewers check patentability amp interference w other applications claims are not revealed to the public for rst 18 months of pending review may take 3 5 years disputes handled by USPTO Board of Patent Appeals and lnterferences 3 Patent is published interferences pursued in Federal court 4 Patent Infringement is pursued in Federal district court by the patent holder When are Patents Not Effective Weakness in patent protection laws Doesn t guarantee right to use the invention if infringing on other patents Patent Holder is responsible to detect and sue A wouldbe imitator need only invent a means not speci ed in the patent Tips Patents are expensive to obtain gt 20000 and defend could be millions so Only pursue patents which are broad commercially signi cant and offer a strong position only things other people want Consider other options In the US patents are granted on a quot rst to investquot versus quot rst to lequot basis so record all steps and meetings in an inventor s notebook There is one year of grace from public disclosure Consider ling a quotprovisional patentquot Establishes ling date but notsub tantively examined Allows one year to le full application allows quotpatent pendingquot Only costs under 1000 to le America Invents Act First modi cations in over 60 Started March 16 2013 however your inventions can be tracked prior to this date Now rst to le instead of rst to invent Some are predicting the end of garage inventors and ground up entrepreneurship Heavily favors large companies with big budgets and attorneys on retainer Because of expected increase in applications PTO is expected to raise ling fee Copyrights What is a Copyright 0 A copyright is a legal right intended to protect works of authorship to protect works of authorship tangiby xed expressions of literary graph or other ideas from plagiarism or misuse by unauthorized individuals What Does a Copyright Entitle Me to Do quot Bundle of Rightsquot Reproduce the work Distribute copies of the work to the public Prepare derivative works Publicly display the work Publicly perform the work Electronically transmit the work What is Copyrightable Tangible expressions of ideas such as Literary works Musical works Pictorial graphic and sculptural works Web pages Software and computer programs Architectural works Motion pictures and other audiovisual works What is m Copyrightable Ideas and facts Titles Names Short phrases Works in the public domain Logos and slogans Blank forms for collecting information URLs How Long Does a Copyright Last In general a copyright protects an item for the life of the author plus 70 vears In the case of works created under pseudonyms or anonymously or quotfor hirequot a at 95 years from publication or if less 120 years from creation Example Mark twain and companies that creates movies Disney What if a Copyright is Infringed The infringement must violate any item in the quotBundle of Rights The plaintiff must prove Ownership of a valid copyright Access to the work by the defendant Substantial similarity between original work and allegedly infringing work Contributory or vicarious infringement claims are also available When is a Use a quotFair Use quot Purpose and character of the infringing work commercial or nonpro t for educational purposes Nature of the infringing work intended as criticism comment news reporting teaching scholarship or research Amount and substantiality of the portion used in relation to the copyrighted work as a whole the heart or quotcreative essencequot of the work Effect of the use on the potential market for or value of the copyrighted work Tips Always ensure business ownership of copyrightable works by employees or independent contractors in employment workfor hire agreements It costs nothing to copyright a work Technically whatever you tanginy produce is automatically copyrighted but put a Q the year of rst publication and your name on everythingon everything you produce Register with the US Copyright Of ce in the Library of Congress E infringed quotFair Usequot is almost always an attributed excerpt that does not harm the commercial value of the original work Trademarks What is a Trademark o A trademark is any word name symbol phrase design or the like that is used to identify one s goods trademark services service mark or business entity trade name and to distinguish them from those of others Words must be fanciful or suggestive eg English Leather not quot genericizedquot eg Kleenex Xerox How is a Trademark Acquired Trademark rights are established through use not registration violations considered quotunfair practicequot use the T or 5 symbols to indicate use as a trade or service mark However registration with US Patent and Trademark Office aids in enforcement use theg symbol to indicate registration with the USPTO Trademark registration lasts for 20 years but may be renewed In practice they last as long as the mark is used in commerce Trademarks Justi cation Trademark Use or lack of use must be justi ed within 6 years Others have the right to challenge uniqueness within 5 years Abandonment Lack of use for two years Tips A company can lose the right to enforce a trademark by not enforcing the mark or through quotgenericisingquot it quotuse it or lose i tn Trade Secrets What is a Trade Secret The Uniform Trade Secrets Act 0 A trade secret is any idea knowhow compilation of information or routine that ls secret ie not known or knowable by others Derives signi cant and independent economic value from not being generally known to competitors is the subject of reasonable efforts to maintain its secrecv Examples of Trade Secrets Con dential customer lists Business research results Proprietary process information Formulas Privileged market data Why Protect IP as a Trade Secret Instead of a Patent a patent discloses valuable information What if the patent is later revoked a patent only offers protection for items involving physical objects or physical processes customer lists market research results etc are not patentable Why Protect IP as a Trade Secret Instead of a Copyright when registered with the Library of Congress a copyright moves information to the public domain Competitors may call your lists they are no longer secret material must be updated for every change a copyright protects only the tangible incarnation of the work not the idea itself If this weren t so there would be only one sitcom TV show Why Protect IP as a Trade Secret Instead of a Trademark a trademark protects identi able symbols not secrets Trademarks are not secrets and most trade secrets are not trademarkable What Happens if a Trade Secret Leaks o The Uniform Trade Secret Act Provides For security during legal proceedings recovery of damages for misappropriation punitive damages for willful amp malicious misappropriations Economic Espionage Act of 1996 Criminalizing the theft of trade secrets Leveraging and Licensing lP What is a License Agreement 0 A license agreement is a contract in which the owners of intellectual property permit others to exercise all or some of those rights under speci c conditions It essentially quotrentsquot the technology to another entity What is Included in a License Agreement Grant Clauses What rights are included Is this exclusive or nonexclusive License Fees Royalties Milestone Payment De nition of Licensed lP Field and Territory Warrantieslndemnifications What if this IP infringes on someone else s lP Termination US Patent and Trademark Office wwwusptogov wwwusotodovmainhowdoihtm Library of Congress Copyright Registration wwwocgovcopyright Gallery of Weird Patents wwwdephioncomgallery


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