Intellectual property rights give the creator exclusive rights to the intellectual property for varying lengths of time, depending upon the type of intellectual property. It is an intangible asset to a company. Business partners and financial institutions will have confidence to invest or collaborate with the organization. In addition to protecting their creation, business owners can maximize the value of their IPs in many ways. They can franchise, license out or transact their IP. There are 8 different types of (IP) Intellectual Property; they are patent, trademark, registered design, plant varieties protection, copyright, and layout-design of an integrated circuit, geographical indication and trade secret. Patent refers to the owner whom is the right granted of an object, product or a process that he/she invented. This will prevents others from making, using, importing or selling the invention without his/her permission. A person gives a new technical solution or a description of what are the solutions to solve the problem of the technical. Once they approved, the patent will last for 20 years from the date of filing. Other than using patent to prevent others from exploiting your invention, you can employ it to raise funds for your business, license it to third parties for commercial returns or sell the patented invention. A trademark is a distinctive indicator that used by a company or business to identify the brand, products or services. And the trademark can represent a logo, symbol, word and graphic. You can protect your logo or signature by applying/register through IPOS so that others will not have the chance to grab your ideas or even modify to look similar. Once acquired, a trademark can last indefi... ... middle of paper ... ...ated with a single company’s products. A trade secret can be continued to be use exclusively by a company for an indeterminate length of time if it is not discovered. It consists of information that is patentable. If a trade secret is discovered, its intellectual property rights are lost. Under the law, trade secret is protected from everyone except certain key individuals within the business or company. If someone reveals this secret information to others, legal action can be taken against him. Trade secret can be protected when the company limits number of people who can access this information, and have employees sign non-disclosure agreements. Any individuals who come into contact with the business or company should also sign non-disclosure agreements. Companies should also keep a clear record of all business deals that may contain any confidential information.
Way before their time Esther Dyson and Lance Rose both had their own opinions about the future of 'intellectual property' in the digital age. In 1995, two authors noticed this emergence of change. In the Wired article "The Emperor's Clothes Still Fit Just Fine" Lance Rose suggested that the norm of copyright infringement being a criminal act such as stealing a car would prevent this practice from becoming something that would be acceptable in society today. This leads into his argument that we do not need to change the current laws (in 1995) to prevent future copyright infringement. Esther Dyson's Wired article on the other hand titled "Intellectual Value" expresses a completely opposite view of this very same issue of copyright. Her arguments support the claim that copyright infringement would become more prominent in society and cause major revision of how we approach and pass laws toward the handling of intellectual property. Both of these articles were very predictive from the time they were written and have been proved accurate by events through the years.
The protection of trade secrets endows the owner of the trade secrets rights to keep others from using and misappropriating his secret. Trade secret protection survives till the time the requirements for protection- value to the owner and secrecy- continue to be met. The protection is lost if the owner fails to take reasonable steps to maintain the secrecy of the information. Besides, disclosure of trade secrets is not actionable in all cases, i.e., trade secrets
Our constitutional liberties referencing property rights have faded over the years by virtue of the over-reach of the federal government by their collusions and conspiracies among the different branches; thereby, infringing on the rights of individuals and the states. For example, the Constitution does not grant the national government jurisdiction over education, housing, agriculture, or energy; however, they have gotten around this by creating cabinet/committee level status (e.g., HUD, FTC, FDA, OSHA, SEC, EPA) in D.C. by Congress, administered by the executive branch with the court?s approval. James Madison captured the essence of federalism in The Federalist No. 45. He condemned the aggregation of all powers (legislative, executive, and judicial) in the same hands; whether of one, few, or the majority; whether hereditary, self-appointed or elected, may legitimatize the very definition of tyranny. James Madison, Property: The Founders Constitution, (Vol 1. Chap. 16. Document 23. 29 March 1792).
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).
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.
Intellectual property is the product of creative thought. Intellectual property law establishes rules for the registration, administration, sale, licensing, and dispute resolution of intellectual property (Stim, 2017). By taking the necessary steps to claim
Espionage is defined as the act or practice of spying.1 The term ‘industrial espionage’ , also known as ‘corporate espionage’ or ‘cyber espionage’, is the act of stealing trade secrets through the removal, duplicating or recording of highly confidential or valuable information in order to gain a competitive advantage. It is defined as the use of illicit means by more aggressive competitors to disrupt their rival’s operations or gain access to their sensitive information for a better competitive edge.2 While industrial espionage involves the theft of information for commercial purposes, which is obviously illegal, competitive intelligence is the legal gathering of information through conventional practices such as picking up scrap information through attending trade shows or through sources readily available i.e. corporate publications, patent filings and websites.3 Trade secrets are a form of intellectual property thus industrial espionage is most commonly linked with technology-heavy industries, especially in the computer and auto sectors where a great deal of money is splurged on research and development since technological change in this modern era has become a growing importance to business performance.
Intellectual Property: (noun) A work or invention that is the result of creativity, such as a manuscript or a design, to which one has rights and for which one may apply for a patent, copyright, trademark, etc.
The term “trade secret” is often bandied about without a true understanding of what it is and why it is important. Trade secrets are important because they serve to protect your valuable, and often confidential, information from getting into the wrong hands and being used inappropriately. Every entrepreneur can benefit from knowing these important details about trade secrets.
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.
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.
With the emergence and growth of the internet, intellectual property laws are much harder to enforce and many people are saying that they are outdated and obsolete. Intellectual property allows you to own your ideas, thoughts, and creativity as you would own a piece of tangible property. The human mind is a creative tool that comes up with ideas, designs, schemes, and inspirations of all kinds. Intellectual property views these ideas as being property. The ideas must also have commercial value and be a tradable commodity otherwise there would be no point to protect it. Intellectual property is basically the ownership of ideas. If one were to write a novel, for which the idea was conceived in there mind, they could copyright that novel so that no other person could steal that idea and write another novel on it. Copyright is a type of intellectual property. The main types of intellectual property are patents, trademarks, trade secrets, and copyrights. There are many issues arising about copyright and intellectual property due to the technological advances in the past ten years or so.
Intellectual property is the legal term for an idea or knowledge that has been expressed in tangible form. Copyright is a subset of intellectual property, providing the legal framework intended to protect a creator 's original ideas, theories and concepts. It permits the right to publish, copy, or reproduce any original literary, dramatic, musical, or artistic work. In return, creators of such works receive remuneration for, and protect the integrity of the works that they have created. Under Irish Copyright law, protection extends to original literary, dramatic, musical or artistic works, sound recordings, films, broadcasts, cable programmes, the typographical arrangement of published editions, computer programmes, and original
Intellectual property is the ownership of ideas as well as the control over the tangible or virtual representation of those ideas. Software is intellectual property, as are books, movies, and music.Like music performers and authors, software developers use copyright laws to protect their work and their investment in the field. The theft of intellectual property thus eliminates the resources used to develop newer and better products.
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.