A company named Bellarine techno PVT LTD is located in Geelong, started an innovative project to develop an electronic card type of a device, which stores data from multiple credit and debit cards into a compact single Visa-measured electronic watch-type wearable gadget with the goal that it can allow the client to convey the data of every last one of cards into a solitary compact gadget.
As this is a new innovative idea, the company wants to outsource this device to small manufacturing companies in Taiwan and within a time period of 3 years, the company wants to extend its hands by outsourcing these products to large scale manufacturing global companies either in Korea or Japan. The company initially plans to start selling their product within …show more content…
It can be referred to as rights of insubstantial and non-physical objects or things, which may include ideas, names, designs, artworks, innovations, audio creations, video documentations. As the definition refers to the intangible things, it is more difficult to protect these kind of properties compared to other properties. The properties which are tangible such as land, car and others can be protected and reclaimed if they are poached. But if an intellectual property is poached, it is very difficult to recover. For example, if a company comes up with a new innovative design for a product and if the same is embezzled then the plausible profits from that will be affected. Due to this financial implication, the intellectual property needs legal backing and rights to protect it.
The intellectual property rights are normal rights which help the inventor or the owner to protect and get benefited his own invention or work. These intellectual rights have been framed in the article 27 of the universal declaration of human rights act. The goal of IP rights is to help creator take advantage of his own creation and also preventing poaching and resulting competition. Also, protection and managing of IP rights is paramount for the owner to drive his product or idea into the market resisting the competitive forces in the …show more content…
These copyrights can be used to make huge profits by selling them to other companies throughout the world.
Design:
A design is giving the product a unique appearance with difference it its size shape pattern or configuration. It should always be different from other product with new features or other properties. The registration of design is to protect its design for a commercial use in the market. It gives its owner full right for using, selling, and licensing it in the market. (designs, 2012). As the company is coming with a compact wearable watch-type design it has to register its design to protect from duplication of the appearance, especially in US and Australia where the product is initially to be sold.
Conclusion:
By implementing the above mentioned IP strategies the company can preserve its intellectual properties from other manufacturers like Japan and US. It also can make huge profits and reputation in the market. The company will have full rights on the product and creation of it. It will have the advantage of introducing the product into the market with all rights and can get benefits from them. The other advantage is the motivation the copyright owner gets to innovate products and release them into the market with all rights reserved, which in turn helps the public to get new innovative products for a safe and secured
As this is a new innovative idea, the company wants to outsource this device to small manufacturing companies in Taiwan and within a time period of 3 years, the company wants to extend its hands by outsourcing these products to large scale manufacturing global companies either in Korea or Japan. The company initially plans to start selling their product within …show more content…
It can be referred to as rights of insubstantial and non-physical objects or things, which may include ideas, names, designs, artworks, innovations, audio creations, video documentations. As the definition refers to the intangible things, it is more difficult to protect these kind of properties compared to other properties. The properties which are tangible such as land, car and others can be protected and reclaimed if they are poached. But if an intellectual property is poached, it is very difficult to recover. For example, if a company comes up with a new innovative design for a product and if the same is embezzled then the plausible profits from that will be affected. Due to this financial implication, the intellectual property needs legal backing and rights to protect it.
The intellectual property rights are normal rights which help the inventor or the owner to protect and get benefited his own invention or work. These intellectual rights have been framed in the article 27 of the universal declaration of human rights act. The goal of IP rights is to help creator take advantage of his own creation and also preventing poaching and resulting competition. Also, protection and managing of IP rights is paramount for the owner to drive his product or idea into the market resisting the competitive forces in the …show more content…
These copyrights can be used to make huge profits by selling them to other companies throughout the world.
Design:
A design is giving the product a unique appearance with difference it its size shape pattern or configuration. It should always be different from other product with new features or other properties. The registration of design is to protect its design for a commercial use in the market. It gives its owner full right for using, selling, and licensing it in the market. (designs, 2012). As the company is coming with a compact wearable watch-type design it has to register its design to protect from duplication of the appearance, especially in US and Australia where the product is initially to be sold.
Conclusion:
By implementing the above mentioned IP strategies the company can preserve its intellectual properties from other manufacturers like Japan and US. It also can make huge profits and reputation in the market. The company will have full rights on the product and creation of it. It will have the advantage of introducing the product into the market with all rights and can get benefits from them. The other advantage is the motivation the copyright owner gets to innovate products and release them into the market with all rights reserved, which in turn helps the public to get new innovative products for a safe and secured