Intellectual property is an incredibly complicated facet of the law. In the United States, we have many laws in place to control and limit profiting from others intellectual property. The issue is not only profiting from others intellectual property, but not purchasing the property from the originator as well. We will discuss why it is important to protect this property as well as why it is tremendously difficult to regulate all these safe guards. “Intellectual Property has the shelf life of a banana.” Bill Gates
Why Protect Intellectual Property
“Protecting your intellectual property is crucial to your business.” (Hinson, 2014) When business have intellectual property that is going to be popular or helpful in advancing there business, they have to take measures to ensure that the ideas or prototypes are protected from other that may steal the intellectual property. In the United States, many laws or safeguard steps have to be followed in order to preserve the intellectual property. A business owner has the right to protect the intellectual property, because the failure to do so could result in demise of the business itself.
“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...
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Barnes, D. W. (2011). Congestible intellectual property and impure public goods. Northwestern Journal of Technology and Intellectual Property, 9(8), 533. Retrieved from http://scholarlycommons.law.northwestern.edu/cgi/viewcontent.cgi?article=1152&context=njtip
Department of commerce, United States Patent and Trademark Office (2014). Patents. Retrieved from website: http://www.uspto.gov/patents/
Gordon M Snow (Chair) Assistant Director Cyber Division, Federal Bureau of Investigation. Intellectual property law enforcement efforts. (2011). Statement before the senate judiciary committee, Washington, D.C. Retrieved from http://www.fbi.gov/news/testimony/intellectual-property-law-enforcement-efforts
Hinson, C. (2014). How and why to protect your intellectual property. Retrieved from http://www.alllaw.com/articles/intellectual_property/article5.asp
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