Intellectual Property

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Knowledge based assets
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2)
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7)
8)

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1) Employee skills
2) Production designs, inventions, technologies
3) Processes and methods of business operations
4) Reports, manuals and databases
5) Relationships with suppliers and customers
6) Software
7) R&D
8) Marketing plans

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Trade secret

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1) any form of knowledge that the owner has taken reasonable measures to keep secret
2) has economic value from not being known to the public

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Misappropriation

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wrongful taking of any intellectual property

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Prosecution of misappropriation occurs under

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the Economic Espionage Act

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Patent

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the patent owner has, for a limited time, the right to exclude others from making, using, offering for sale, or selling the patented invention
specific legal monopoly

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Every patent includes

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a short title of the invention
a description of how to make and use the invention
why the invention is different from prior art, knowledge or previous inventions
description of the claims that should be granted patent protection

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Patents are obtained by filing an application with

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the U.S. Patent and Trademark Office (PTO)

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Utility patent

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may be granted to anyone who invents a process, machine, article of manufacture or composition of matter that is NEW, NON OBVIOUS, and USEFUL
may be granted on any new and useful IMPROVEMENT of a process, machine, article of manufacture or composition of matter
may also be granted on a new way to use unpatentable material

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A utility patent may be granted for a term beginning __________ and ends _________.

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A utility patent may be granted for a term beginning on the date the patent issues and ends 20 years from the filing date.

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design patent

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design patents may be granted to anyone who invents a NEW, ORIGINAL and ORNAMENTAL design for an article of manufacture
ONLY protects the appearance of an article, not its structure or utilitarian functions

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Design patent may be granted for a term of _______ beginning _________.

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Design patent may be granted for a term of 14 years beginning on the date the patent issues.

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Plant patent

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may be granted to anyone who invents or discovers and asexually reproduces any distinct and new variety of plant
will not be granted for a tuber propagated or a plant found in an uncultivated state

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Plant Patent may be granted for a term that begins ______ and ends ________.

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Plant Patent may be granted for a term that begins on the date the patent issues and ends 20 years from the filing date.

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Condition for a patent (3)

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1. novelty
2. useful
3. non obvious

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Who may obtain a patent

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human beings
if two persons make an invention jointly, they must apply for a patent as joint inventors

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When can a patent be obtained

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when the inventor has conceived of an idea in enough detail to be reduced to practice

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Patent
Business method

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computer programs and algorithms that achieve a tangible result in doing business may be considered for patent
algorithms or a mere business idea by themselves are not patentable

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Patent
Ownership and sale

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patents and patent applications may be bought, sold or transferred in whole or in part like any other piece of property

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Filing the patent

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USPTO will record the date and time your patent application was received
serial number will be assigned
receive a Foreign Filing License
if ALL requirements are met, the application will be assigned to the appropriate examiner

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Trademark

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word, symbol or even a sound used by a person or business to identify their goods or services

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Service mark

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trademark that is used to distinguish services rather than products

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Certification mark

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mark used by someone other than the owner to certify quality or point or origin

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Collective mark

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mark representing membership in a certain organization

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Trademark
Length of protection

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indefinite as long as it is properly used.

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Trade dress

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color schemes and shapes associated with a product or service protected under the Lanham Act

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Trademark requirements

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must use the mark on goods shipped or sold or on services rendered in interstate or international commerce
must apply for a trademark reservation based on intention to use the mark in commerce within 6 months

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PTO will deny a trademark if
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2)
3)
4)

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1) if it is the same or similar to an existing mark used on similar or related goods
2) if the mark contains prohibited or reserved names or designs
3) if the mark merely describes a product or service
4) if a mark is generic and represents a product or service

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Trademark may become "generic" and lose its protected status if
1)
2)

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1) owner fails to defend the mark
2) public becomes confused at to whether the mark distinguishes a particular product or service

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Copyright

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form of protection provided exclusively by Federal laws for literary, dramatic, musical, artistic and other intellectual works
expression rather than invention

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Owner of a copyright has the exclusive right to
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2)
3)
4)

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1) reproduce or make copies of the work
2) adapt the work via updating, combining etc.
3) license or otherwise distribute copies of the work to the public
4) publicly perform or display the work

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Copyright
Duration

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once a copyright work is produce, the author is granted copyright protection
duration of the author’s life plus 50 years

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Digital Millennium Act

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with the advent of the internet, Congress passed this law to prohibit activities and technology that leads to copyright violations

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Goodwill
cost approach

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calculating what it would cost another business to duplicate a given asset today

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Goodwill
combine the analysis of brand and customers

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consider customers' awareness, loyalty and quality perception of brand
perceived quality has the strongest linkage to strong profitability

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Nationalization
Eminent Domain
Expropriation
Misappropriation

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eminent domain: seizing property with compensation
expropriation: seizing property without compensation
misappropriation: stealing

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Intellectual property
Justification

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property relationships more likely to spawn new resources when compared to legal relationships that merely divide resources equally
Exclusivity is granted for a defined period and then becomes free to the public

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Goodwill
1)
2)

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1) cost (or cost of creation) approach
calculating what it would cost another business to duplicate a given asset today
2) combine the analysis of your brand and your customers is to consider customers' awareness, loyalty and quality perception of your brand

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Injunction

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owner of a trade secret may go to court to seek an injunction to prevent someone from divulging or using a trade secret