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Chapter 4: Intellectual Property
The importance of intellectual property
Chapter 4: Intellectual Property
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Recommended: Chapter 4: Intellectual Property
Intellectual property are the legal rights (control and ownership) of creations, such as ideas; inventions; designs, etc. for the use in commerce (Bainbridge, 2012). Intellectual law in countries seeks to deter individuals or organizations from copying or capitalizing upon another’s work. The main areas protected by protect intellectual property law include: patent, copyright, trademark, and trade secret. Intellectual Property can be categorized under the following:
Monopoly Right to prevent copying
De Facto Monopoly
Contractual
Patents Unregistered Trade Marks Trade Secrets
Confidential Information
Registered Trade Marks Unregistered Designs
Know-How
Registered Design Copyright
This essay focuses on Patents, Registered Designs, Unregistered Design Right and trademarks.
A patent is needed to increase innovation and competition. It is an issued document which is applied for and is granted by a governing body that states that an invention which is patented is legally bound to its owner for exploitation i.e. manufacturing, use, sales and imports. A patent is generally issues for 20 years and their costs generally depend on the stage of the application process. In the UK, the total cost of a patent could be estimated at £5000 over 5 years. International patents (PCT) on the other hand could total £7000 over 2.5 years. This is because within the UK, the examination of patentability stage is generally cheaper (£1500) compared to the International equivalent (£300) but most importantly the closing process in the International patent application could be in a range of £0 – £30,000, whilst the UK patent end stage is approximately £100 (HGF, 2014). Patents could give the product or idea not only a competitive a...
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...ion of Time Warner Price paid: $147 billion, of which $128 billion was for IP (87%)
Examples of the value of patents include:
• Nortel, a former Canadian telecommunications company, had a patent portfolio of over 6000 patents. Notable companies like Google bidding; later sold to other notable companies including Apple, Microsoft, RIM, EMC, Ericsson and Sony for $4.5Bn.
REFERENCES
Bainbridge, D. (2012). Intellectual Property. Pearson; 9 edition.
Department for Business, Innovation & Skills, Intellectual Property Office, (No date). Designs: How to Protect your Design. London: HMSO
Department for Business, Innovation & Skills, Intellectual Property Office, (No date). Trade Marks: Quick Facts. London: HMSO
Harrison Goddard Foote LLP, (2014). Intellectual property workshop
World Intellectual Property Organization, Intellectual Property Handbook, (2008).
(7) Hall B. Patents and Patent Policy -. 2007. The 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' of the Morse H. SETTLEMENT OF INTELLECTUAL PROPERTY DISPUTES IN THE PHARMACEUTICAL AND MEDICAL DEVICE INDUSTRIES: ANTITRUST RULES. Allison JR, Lemley MA, Moore KA, Trunkey RD. Valuable patents. Geol.
“A patent is an intellectual property right granted by the Government of the United States of America to an inventor “to exclude others from making, using, offering for sale, or selling the invention throughout the United States or importing the invention into the United States” for a limited time in exchange for public disclosure of the invention when the patent is granted.” ("Patents," 2014) There are three types of patents, utility, design, and plant. Utility patents protect useful process, machines, article of manufacture, and composition of matter. Design patents pro...
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 Law used to only protect art, music, and literature, but because of technological development, Intellectual Property Law now also protects a greater variety of innovations including designs, inventions, symbols, discoveries, and words. The phrase “intellectual property” was first known to be used in the late 1700’s; however, it was not widely talked about, nor was the Intellectual Property Law in actuality commonly implemented. Intellectual Property Rights slowly gained more attention by mid-1800’s after the Industrial Revolution had taken place: more companies were created, competition between corporations became fiercer, and owning unique innovations were crucial to winning the competition. However, as Intellectual Property
When this happens, it is important that they take the time to file a patent to secure the rights to their invention (Sanderson, 2013). A patent is a form of intellectual property law used to protect an invention; regardless of use, patents last for 20 years (Newton, 2017).
It is important that I make this very clear and that I do so at the earliest possible moment. I must do this because the essay that you are reading is about intellectual property, and that means that this essay must be self-referential. When one writes or speaks or communicates in any way about intellectual property, one is dealing with some of the most basic rules of the very medium in which one is operating. There is no neutral ground here, no possibility of genuine detachment or objectivity. Either I am going to claim the protection of the current laws that apply in the United States and under the World Intellectual Property Organization, or I am not.
The fundamental idea of patents is that it is an agreement between inventors and society. The inventor is encouraged to keep inventing to benefit society and as a return the government grants the inventor with a monopoly over its sale. Patents were written about when the Constitution was framed. The Founding Fathers believed they should “Promote the progress of Science and Useful Arts, [by] securing for limited times the exclusive rights to their [invention].” (Constitution Article I, Section 8, Clause 8) This one clause was originally meant to give an inventor a limited monopoly so that they can make profit, while also the society will benefit from the disclosure of the information about the invention and can build...
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
The UK Intellectual Property Office, The US Library Of Congress, 2010-2013. Web. 27 Feb 2013. .
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.
[i]nformation that derives its intrinsic value from creative ideas. It is also information with a commercial value. Intellectual property rights (IPRs) are bestowed on owners of ideas, inventions and creative expression that have the status of property. Like tangible property, IPRs give owners the right to exclude others from access to or use of their property. (United States Information Agency, "Intellectual Property Rights Protection")
Intellectual property is that the tangible results of human power and creativity. IPR is a general term that covers patents, trademarks, trade secrets, industrial style, database rights and copyright. Money and efforts are concerned in any analysis, innovation or invention resulting in a product, process, method, design, literary and creative work etc. The results of money gains to its authors or creators are usually registered under one or the various heads of Intellectual property rights. The creation, transfer and use of Intellectual property are protected by laws as the other material property. Such laws that defend the right of the creator granted by State that accords specific economic right to have, use and disposition of their creation
Dictionary.com states that a patent is “the exclusive right granted by a government to an inventor to manufacture, use, or sell an invention for a certain number of years (www.dictionary.com).” There are three types of patents: utility, design and plant. Uspto.gov states that a utility patent is “Issued for the invention of a new and useful process, machine, manufacture, or composition of matter, or a new and useful improvement thereof, it generally permits its owner to exclude others from making, using, or selling the invention for a period of up to twenty years. A design patent is issued for a new, original, and ornamental design embodied in or applied to an article of manufacture, it permits its owner to exclude others from making, using, or selling the design (www.uspto.gov).” In the textbook Entrepreneurship: Successfully Launching New Ventures states that a plant patent “protects new varieties of plants that can be reproduced asexually (Barrigner & Ireland, 2012, pg.
Patent is something that first came during Italy's Renaissance era. Originally patent was created as a way to attract skilled people in certain cities of the country. The idea was to give people the exclusive right when they created something. The reward was that they would be the only one exploiting that skill or idea in the region. And when you are in a position of monopoly, this usually means more business and profits. Therefore, these skilled geniuses were more inclined to come to a place when they knew that their efforts would be entirely protected and fully rewarded. This was a great plan to attract innovative people while developing the economy of the city.