Chapter 28 BUS 115

valid trademarks

(Must be distinctive)-Words, symbols, sounds, colors, and even scents.

Intellectual property

Has little economic value unless it is used by many. Typically expensive to produce, but cheap to reproduce and transmit, giving more profit to those who do less work. The government protects them through patents and copyrights.

Types of trademarks

*Trademarks-Affixed to goods *Service marks-Identify services, not goods *Certification marks-Words or symbols used by a person or organization to attest that products and services produced by others meet certain standards. *Collective marks-Identify members of an organization.

Useful-Requirement for patent

.Must have some application, even if not commercially practical.

Time limit on trademarks

10 years, but can be renewed an unlimited number of times.

Time limit on copyrights

70 years after death of the author. For a corporation, 95 years from publication or 120 years from creation (whichever is shorter)

Trade secret

A formula, device, process, method, or compilation of information that, when used in business, gives the owner an advantage over competitors.

Patentable subject matter-Requirement for patent

A patent is not available solely for an idea, but for its tangible application.

Trademark

Any combination of words and symbols that a business uses to identify it's products and services and distinguish them from others.

Nonobvious-Requirement for patent

Cannot be an obvious way to do something.

Time limit on patents

Must apply for a patent within 1 year of selling the product. Utility patent (20 years)

Novel-Requirement for patent

Not known or used in this country and not published anywhere.

Copyrights

The holder of this owns the particular tangible expression of an idea, but not the underlying idea or method of operation.

Copyright infringement

To prove a violation, the plaintiff must present evidence that the work was original and that either: *The infringer actually copied the work, or *That the infringer actually had access to the original and the two works are substantially similar.

Digital Millennium copyright act

U.S. statue that updated copyright law for the internet age. *It is illegal to delete copyright information (name of the author or the title of the article) *Distribute false copyrighted information *Circumvent encryption or scrambling devices that protect copyrighted works. *Distribute tools and technologies used to circumvent encryption devices.