BUS201 Chapter 7

What does a successful plaintiff recover in a misappropriation of trade secret lawsuit?

1) can recover the profits made by the offender from the use of the trade secret 2)recover damages 3)obtain an injunction prohibiting the offender form divulging or using the trade secret

What can one recover in a suit for patent infringement?

1)Money damages equal to a reasonable royalty rate on the sale of the infringed articles 2)Other damages caused by the infringement (ex//loss of customers) 3)An order requiring the destruction of the infringing article 4)an injunction preventing the infringer from such action in the future

How long is a design patent valid for?

14 years

Federal Patent Statute

1952; A federal statute that establishes the requirements for obtaining a patent and protects patented inventions from infringement

How many years are utility patents for inventions valid for?

20 years. Patent term begins to run from the date the patent application is filed.

Useful

An invention is useful if it has some practical purpose. If an invention has only theoretical benefit and no useful purpose, it cannot be patented

Copyright Term Extension Act of 1998

Extended copyright protection to the following:

Copyright Revision Act of 1976

Federal statute that currently governs copyright law. It 1) Establishes the requirements for obtaining a copyright 2)Protects copyrighted works from infringement

U.S. Copyright Office

Located in Washington DC., published and unpublished works may be registered with this office. Registration is both permissive and voluntary and can be effectuated at any time during the term of the copyright.

Post-Grant Review

Nine month period after the issuance of a patent for a third party to seek a review of a patent by submitting prior art references and other info that assert the patent holder's claim ins't patentable.

Tangible Writings

Only writings that can be physically seen are subject to copyright registration and protection.

U.S. Court of Appeals for the Federal Circuit

Patent decisions/infringement claims that are appealed must be brought to this court

Intellectual Property

Patents, copyrights, trademarks, and trade secrets. Federal and state laws protect intellectual property rights form misappropriation and infringement.

Novel

An invention is novel if it is new and has not been invented and used in the past

Misappropriation of a Trade Secret

A civil lawsuit against anyone who has misappropriated a trade secret through unlawful means such as theft, bribery, or industrial espionage

Reverse Engineering

A competitor can lawfully discover a trade secret by taking apart and examining a rival's product or re-creating a secret recipe. A competitor can then use the trade secret but not under the trademarked name used by the original creator of the trade secret

Economic Espionage Act (EEA)

A federal statute that makes it a crime for any person to convert a trade secret for his or her own or another's benefit, knowing or intending to cause injury to the owners of the trade secret

Leahy-Smith America Invents Act (AIA)

A federal statute that significantly amended federal patent law. The act stipulates first-to-file rule; previously the U.S. followed the first-to-invent rule

Patent

A grant by the federal government to the inventor of an invention of the exclusive right to use, sell, or license the invention for a limited amount of time. Patent law is intended to provide incentive for investors to invent and make there inventions public and to protect patented inventions from infringement.

Copyright

A legal right that gives the author of qualifying subject matter, who meets other requirements established by copyright law, the exclusive right to publish, produce, sell, license, and distribute the work.

Patent Trial and Appeal Board (PTAB)

A part of the PTO. Reviews adverse decisions by patent examiners, reexaminations, post-grant reviews, and other patent challenge proceedings

Design Patent

A patent that may be obtained for the ornamental nonfunctional design of an item

Utility Patents

A patent that protects the functionality of the invention

Trade Secrets

A product formula, pattern, design, compilation of data, customer list, or other business secret

Provisional Application

An application that an inventor may file with the PTO to obtain three months to prepare a final patent application.

Berne Convention

An international copyright treaty from 1989 that eliminated the need to place the copyright symbol or the world copyright on a copyrighted work. However, it is still advisable to place the copyright notice.

Nonobvious

An invention is nonobvious if it isn't obvious

Uniform Trade Secrets Act

Give statutory protection to trade secrets. State unfair competition laws allow the owner of a trade secret to bring a lawsuit for misappropriation against anyone who steals a trade secret.

Patent Pending

If a patent application is filed by the patent hasn't been issued, the words "patent pending" may appear on the article/product

Patent Number

If a patent is granted, the invention is assigned a patent number.

Patent Application

In order to obtain a patent, an application must be filed with the PTO in Washington DC. Application must contain written description of the invention.

Intangible Rights

Intellectual property rights falls into the category of intangible rights, or objects that are not physical in nature

Copyright Registration Certificate

Issued to the copyright holder; registration permits a holder to obtain statutory damages for copyright infringement, which may be greater than actual damages and attorney fees

U.S. Patent and Trademark Office (PTO)

Located in Washington D.C., applications for patents must be filed with this office. Federal patent law is exclusive. No state has patent laws.

First-to-File Rule

The first party to file a patent on an invention receives the patent even though some other party was the first to invent the invention

First-to-Invent Rule

The party that first invented the invention was awarded the patent even if another party previously filed for and received the patent.

Pre-Issuance Challenge

Third parties may file this challenge to a pending patent application by submitting prior art references that assert that the sought-after patent is not patentable.

Requirements for Obtaining a Patent

To be patented, an invention must be 1) Novel 2) Useful 3) Nonobvious

Patent Infringement

Unauthorized use of another's patent. A patent holder may recover damages and other remedies against a patent infringer

Public Domain

When a patent period runs out, the invention or design enters the public domain meaning that anyone can produce and sell the invention without paying the prior patent holder