intellectual property
design patents
(for 14 years) Ornamental shape Nonfunctional
utility patents
(for 20 years) Useful Novel Nonobvious
Utility Patents: Process
1) Invention disclosure is prepared. (Detailed description of the invention) 2) Patent application is filed. 3) Patent is issued. (Not necessarily valid) 4) Patent may be challenged in court. (Court decides validity)
Trademarks
Exclusive right granted by a government to a trademark owner to use a specific name or symbol in association with a class of products or services
Copyright
Exclusive right granted by a government to copy and distribute an original work of expression (i.e., literature, graphics, music, art, entertainment, and software)
What is Intellectual Property (IP)?
Refers to the legally protectable ideas, concepts, names, designs, and processes associated with a new product. One of the most valuable assets of firms
Patents
Temporary monopoly granted by government to an inventor to exclude others from using an invention. Requires a formal application
Search for patents and trademarks through
United States Patent and Trademark Office
inventor
anyone who contributed to at least one claim
assignee
company or person who owns the patent
Trade Secrets
information used in a trade or business that offers its owner a competitive advantage and that can be kept secret. Strategic, secret know-how. It is not a right conferred by a government
utility patents are for inventions related to
process machine material article of manufacture Entirely new or a new improvement of these categories
Legal Mechanisms intended to
protect the rights of IP property owners Incentivize innovators. Reward innovation. Encourage dissemination of information for the long-run benefit of society
Design patents can be invalidated if
the design has practical utility
types of IP
trademarks copyright trade secrets patents
types of patents
utility patents design patents plant patents