Business Torts and Intellectual Property Elizabeth K Chase Eth/321 October 23, 2017 J. William Eshelman Business Torts and Intellectual Property Intellectual Property - Intellectual property reflects on the ideas and things we can imagine and produce with our minds. Intellectual property includes anything that may be patented, owned, or protected by a trademark. There are four types of intellectual property, such as trademark, copyrights, patents, and trade secrets. Based on this week’s scenario, Sam had signed a non-disclosure agreement as a condition of his employment with ABC but unfortunately, has violated the conditions by downloading a list of customers for the company. This implies that the subject of intellectual property …show more content…
Instead, protection only takes place if measures are taken to control the dissemination and use of information. Businesses use confidentiality agreements, limited access to confidential information, restrictive post-employment agreements, and other security practices to maintain trade secrets. Employees current and old sign non-disclosures to insure these are kept safe. By protecting your intellectual property, the ABC Company must have watched competitors and others in the industry as if they were competing for their ideas. Sam as an employee had to keep these secrets to the public and then expose ABC competition to undue competition. Tort is a word developed to describe in general the different types of claims that are normally imposing economic and financial losses that are because of some kind of misbehavior, apart from breach of contract. The term is used to refer to this type of claims, false presentations, fraud, breach of contract, encouragement, unfair competition, trade name and trademark infringement and interference with business relationships (Emanuel, S. …show more content…
For example, the plaintiff must prove his wounds. In this case, we see Sam pushing Natalie in her attempt to stop him when she was running out of the office and this caused Natalie to fall and hit her head on the doorknob, she suffers a concussion and Sam made a complaint to the trustee. The relationship between employer and employee relationships is basically as an agent and the main report. The employee is essentially required to hold a fiduciary duty to the employer despite being bound by confidentiality, non-pickup and non-compete agreement. These problems are mainly due to a former employee of a company who founded a competition with the previous employer, especially when the former employee also
Though Intellectual Property laws are generally territorial in character, protection of trade secrets varies with changing jurisdictions. The policy behind trade secret protection is to encourage research and development by providing protection to the originator of business information, and maintain proper standards of business ethics. Trade secrets act as incentive to innovation. They serve a pivotal role in protecting such innovations and also establish rights pertinent to the use of new technology.
Intellectual property consists of the fruit of one’s mind and not one’s hands. The laws of intellectual property protect property that is primarily the result of mental creativity rather than physical effort. When we are thinking about rights of any kind, it is important to remember that society, through laws, decides what rights individuals and communities have with regard to property.
Today almost every company owns intellectual property. It could be in form of photos, designs, technological methods, product components, logos, brand names, consumers’ profiles, etc. Usually it relates with unique and innovative creations of the mind (David Ho). The variety of intellectual property is broad and covers many things. Along with such common types of intellectual properties as patents, trademarks and copyrights there is another one, which is comparatively unusual and hardly determined – trade secret. Unfortunately, nowadays cases of intellectual property thefts are not rare. Although, most of developed countries have made great efforts to improve their intellectual property protection policy; however, sometimes it has no ample effect. As for emerging economies the problem of the intellectual property violation is even worse. The history of the related legislation in developing countries is very short; moreover, in some cases it is beneficial for such countries to sustain poor intellectual property legislation in order to steal this kind of property from developed countries with impunity. Such cases raise the problem of intellectual property (IP) violation to the political level. In this work we considered one of such cases that has occurred between Chinese and US companies and caused not only great losses for suffered from the theft US company, but also provoked some political disputes between these countries.
Intellectual Property (IP) is a legal concept that refers to the creations of the human minds for which exclusive rights are recognized. A variety of tangible assets are granted rights to the owners, artistes or innovators for a specified duration. IP is an intangible asset to a company as it gives commercial business partner and financial institutions the confidence to invest or in any way collaborate with the business. Business owners will also be able to maximize the value of their Intellectual Property by ways such as franchising, transaction or licensing.
Any injury to an individual which is caused by another is called a tort. We have learned so far that these torts fall under three specific types, intentional, negligence and strict liability. I am sure that if I was to sit and reflect on the past that I would be able to recall being a victim, more than once, to some form of a tort and this is probably true for most people.
Over the course of my three years in law school, I focused on employment opportunities that would provide me with practical experience and strengthen my analytical skills. In my second year of law school, I had the opportunity to serve as a dean’s fellow for a leading expert in the field of copyright law, Professor Peter Jaszi. My job as a fellow required me to perform extensive legal research and apply legal principles to produce analytical memoranda on topics such as orphan works, mass digitization, and fair use. Professor Jaszi, subsequently, used my analysis from my memoranda for presentations, workshops, and panel discussions. My work with Professor Jaszi exposed me to domestic and international copyright legal principles, enhanced my legal research skills, and honed my ability to write concisely.
Intellectual property is an intangible type of property commonly thought of as the product of intellectual activity. Inventions, original works of art, know-how, magazine articles, books, computer programs, photographs, poems, movies, songs, theatrical performances, speeches, experimental results, sound recordings, and music scores are all examples of intellectual property. As such, they all are assets that may be valuable and worthy of protection. Intellectual property law is the body of laws that provide the conditions under which intellectual property may be protected and establish the rights of the owners. Thus, it is important to be able to identify what is intellectual property, on one hand, and how to protect it, on the other. Generally speaking, different areas of the law exist to protect different kinds of intellectual property, with some overlap in some cases.
Consequently, innovation requires the support from intellectual property protection as it critical to fostering innovation. Intellectual property protects more than just an idea or a concept but it also protects genuine business assets that may be integral to the core services of the business and overall long-tern viability. Defensible intellectual property is one of the top things venture capitalists wanted to see in a business, particularly, a startup. Without protection of ideas, businesses and individuals would not reap the full benefits of their inventions and would focus less on research and development. The strongest protection comes from registering the work thus enables the creators to put a claim upon their work into public view, and discouraging people from using the work without permission.
Intellectual property (IP) is defined as property that is developed through an intellectual and creative processes. Intellectual property falls under the category of property known as intangible rights, which includes patents (inventions of processes, machines, manufactures, and compositions of matter), copyrights (original artistic and literary works of), trademarks (commercial symbols), and trade secrets ((product formulas, patterns, designs). Intellectual property rights has a significant value to both individuals and businesses, providing in the case of large companies, over one half of their value on return. Since intellectual property rights are so important to the U.S. economy and its citizens, federal and state law provides protection, for example, civil damages and criminal penalties to be assessed against infringers. Due to the importance of intellectual property to a business, I don’t think that its protection and enforcement is going to be a thing of the past.
Intellectual property is a broad concept that covers various forms of knowledge that can be assigned specific rights relating to intellectual creativity or related ideas. (against ip 9)(word report 13). This allowed for laws to be formed to protect creations of the mind. It is not the idea that is being protected, but the physical form of the idea (for example, the idea of a vampire romance cannot be protected, but a specific novel such as Twilight, about a vampire romance can be protected legally). There are two main categories of intellectual property – industrial property (registered designs, patents and trademarks) and Copyright (literary works like publications, artistic works, performances, radio and television). Intellectual law generally has the following functions, even though there are differences between the various types. (pdf 3- 115)
Intellectual property rights are personal property rights acknowledged and protected as trademark, patent or copyrights. A registration of the invention or creation is necessary to gain protection through law and regulations. When we compare copyrights, trademarks and patents we can distinguish that they have differences in respect to areas of protection. While patents protect new inventions, copyright protects its unauthorized production or counterfeiting while Trademark is a brand serves to mark the goods or services of a company thus protects this good name or reputation.
Intellectual property is concerned with immaterial or incorporeal objects which come into existence through mental activity of a person but which, once created, have an independent existence, separate from and outside of the person who created them.
Intellectual Property refers to the creation of human minds for which exclusive rights are recognised. Innovators, artistes and business owners are granted certain exclusive rights to a variety of intangible assets for a specified duration. To a company, intellectual property is an intangible asset. It gives financial institution and business partners the confidence to collaborate with or invest in the organisation. Business owners can also maximise the value of their intellectual property by transacting, franchising or licensing out.
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.
Restraining the employees during the period of employment is a very common practice and it is done by the way of restrictive covenants to protect the trade secrets and the confidential information. However, this violates the fundamental right of the employee to carry out a profession or business of his choice.