Chapter 12 Intro to Entre

Copyright

A form of intellectual property protection that grants to the owner of a work of authorship the legal right to determine how the work is used and to obtain the economic benefits from the work. The work must be in tangible form, such as a book, operating manual, magazine article, musical score, computer software program, or architectural drawing

Patent

A grant from the federal government conferring the rights to exclude others from making, selling, or using an invention for the term of the ____.

Copyright protection

According to current law, any work created on or after January 1, 1978, is protected for life of the author plus 70 years. For works made for hire, the duration is 95 years from publication or 120 years from creation, whichever is shorter. This is the long-lasting ____

Provisional patent application

Allows inventors to file this for utility patents, pending the preparation and filing of a complete application. It provides the means to establish an early effective filing date for a nonprovisional patent application, and allows the term "Patent Pending" to be applied

Intent-to-use trademark application

An application based on the applicant's intention to use a trademark. Once this application is filed, the owner obtains the benefits of registration. The benefits are lost, however, if the owner does not use the mark in business within six months

Assignment of invention

An invention is made during the course of the inventor's employee, the employer typically is assigned the right to apply for the patent

Trade secret

Any formula, pattern, physical device, idea, process, or other information that provides the owner of the information with a competitive advantage in the marketplace

Intellectual property

Any product of human intellect that is intangible but has value in the marketplace. It is the product of human imagination, creativity, and inventiveness

Trademark

Any word, symbol, or device used to identify the source or origin of products or services and to distinguish those products or services from others. Renewable every 10 years, as long as the mark remains in use

Secondary meaning

Arises when, over time, consumers start to identify a trademark with a specific product. Example) the name "chap stick" for lip balm was originally considered to be descriptive, and thus not afforded trademark protection

Copyright bug

Copyright protection can be enhanced for anything written by attaching a copyright notice. It is a "c" inside a circle. The notice at the bottom of the document, an author can prevent someone from copying the work without permission and claiming that they did not know that the work copyrighted.

Copyright, Trade secret, and Internet domain

In the research and development department. New and useful inventions and business processes, improvements to existing inventions and processes, and laboratory notes documenting invention discovery dates and charting the progress on various projects

Computer software copyright act

It has amended previous copyright acts

Fair use

Limited use of copyrighted material for purposes such as criticism, comment, news reporting, teaching, or scholarship

Certification mark

Marks, words, names, symbols, or devices used by a person other than its owner to certify a particular quality about a good or service. Renewable every 10 years, as long as the mark remains in use

Copyright infringement

Occurs when one work derives from another, is an exact copy, or shows substantial similarity to the original work

5.8%

Of all the patent applications filed in 2013, what percentage is design patents?

94%

Of all the patent applications filed in 2013, what percentage is utility patents?

Lanham Act

Passed in 1946 and protects words, number, letters, designs, logos, sounds, fragrances, shapes, colors, and trade dress

Economic Espionage Act

Passed in 1996, does criminalize the theft of trade secrets

Business method patent

Patent that protects an invention that is or facilitates a method of doing business.

Plant patent

Protects new varieties of plants that can be reproduced asexually. It is good for 20 years from the date of the original application

Service mark

Similar to trademarks; are used to identify the services or intangible activities of a business, rather than a business's physical products. Renewable every 10 years, as long as the mark remains in use

Uniform Trade Secrets Act

Special commission drafted in 1979, attempted to set nationwide standards for trade secret legislation

Restricting access, Labeling documents, Password protecting confidential computer files, Maintaining logbooks for visitors, Maintain logbooks for access to sensitive material, Maintaining adequate overall security measures

The following are examples of commonly used physical measures for protecting trade secrets:

Utility patents

The most common type of patent and cover what we generally think of as new inventions. These kind of patents may be granted to anyone who "invents or discovers new and useful process, machine, manufacture, or composition of matter, or any new and useful improvement thereof". The term of this patent is 20 years from the date of the initial application

One year after first use deadline

The requirement that a patent application must be filed within one year of when the product or process was first offered for sale, put into public use, or was described in any printed publication

Design patent

The second most common type of patent and cover the invention of new, original, and ornamental designs for manufactured products. It is good for 14 years from the date of the original application

Useful, Novel, Not obvious

The three basic requirements for a patent:

Idea-expression dichotomy

This describes how the specific expression of an idea is copyrightable. If an entrepreneur writes down specifically what the soccer-themed restaurant will looks like and how it would operate

Intellectual property audit

This is conducted to determine the intellectual property a company owns

Patent infringement

This takes place when one party engages in the unauthorized use of another party's patent. Example) Alacritech, a start-up firm, which claimed that Microsoft violated two of its patents on technology used to speed the performance of computers connected to networks

Collective mark

Trademarks or service marks used by the members of a cooperative, association, or other collective group. Renewable every 10 years, as long as the mark remains in use

Not properly identifying intellectual property, Not fully recognizing the value of their intellectual property, Not using their intellectual property as part of their overall plan of success, Not legally protecting the intellectual property that needs protecting

What are the common intellectual property mistakes entrepreneurial firms make?

An invention is made during the course of the inventor's employment then the employer typically is assigned the right to apply for the patent, The rights to apply for the invention can be sold

What are the exceptions to inventors of a product applying for a patent?

Immoral or scandalous matter, Deceptive matter, Descriptive marks, Surnames

What are the four exclusions from trademark protection?

Patents, trademarks, copyrights, and trade secrets

What are the four key forms of intellectual property?

Utility patents, Design patents, Plant patents

What are the three types of patents?

To periodically determine whether its intellectual property is being properly protected, Remain prepared to justify its value in the event of a merger or acquisition

What are the two primary reasons entrepreneurial firms should complete a intellectual property audit?

Literary works, Musical compositions, Computer software, Dramatic works, Pantomimes and choreographic works, Pictorial, graphic, and sculptural works

What is protected by a copyright?

Ideas, Facts, Titles, Lists of ingredients

What is the exclusions from copyright protection?

Make sure the invention is practical, Determine the type of application to file, Hire a patent attorney, Obtain decision from U.S. Patent and Trademark Office, File a patent application, Conduct a patent search

What is the six step process of obtaining a patent?

Select an appropriate mark, Perform a trademark search, Create rights in the trademark

What is the three step process of obtaining a trademark?

Derivative works

Works that are new renditions of something that is already copyrighted, are also copyrightable. As a result, a musician who performs a unique rendition of a song written and copyrighted by Miley Cyrus, Katy Perry, or Bruno Mars can obtain a copyright on his or her effort