EEE 2023 Chapter 12
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 associated with using the work
patent
a grant from the federal government conferring the right to exclude others from making, selling, or using an invention
two primary reasons for conducting an intellectual property audit
First, it is prudent for a company to periodically assess the intellectual property it owns to determine whether it is being properly protected. Second, a firm should conduct a periodic intellectual property audit to remain prepared to justify its value in the event of a merger or acquisition.
___, trademarks, copyrights, and trade secrets are the four key forms of intellectual property.
Patents
trade secret
any formula, pattern, physical device, idea, process, or other information that provides the owner with a competitive advantage in the marketplace
intellectual property
any product of human intellect that is intangible but has value in the marketplace
what are the major forms of intellectual property?
any product of human intellect that is intangible but has value in the marketplace
trademark
any word, name, symbol, or device that is used to identify the source or origin of products or services and to distinguish those items from others
Lofty Ambitions has patented its method for matching loft owners with loft renters. This is an example of a _______ patent.
business method
The federal Economic Espionage Act
criminalizes the theft of trade secrets
While a utility patent protects the way an invention is used and works, a ___ patent protects the way it looks.
design
second most common type of patent
design
As a book reviewer, Charlie Smuckers often quotes short passages from the book he is reviewing. He is protected because ____ allows the limited use of copyrighted material for purposes such as criticism, comment, news reporting, teaching, or scholarship.
fair use
Judy's Home Care Products engaged in the unauthorized use of The Casey Corporation's patent. This is an example of _________.
patent infringement
least common type of patent
plant
Ways to Protect Trade Secrets
restricting access, labeling documents, password protecting computer files, maintaining logbooks for visitors, and maintaining adequate overall security measures
There are four types of trademarks: trademarks, ____, collective marks, and certification marks.
service marks
Describe obtaining a patent.
six-step process that usually requires the help of a patent attorney
The name "McDonald's" is an example of a ____.
trademark
most common type of patent
utility
three types of patents
utility patents, design patents, and plant patents
things that can be trademarked
words, numbers and letters, designs and logos, sounds, fragrances, shapes, and colors
Which of the following is NOT a physical measure to protect trade secrets? A. Maintaining low-cost overall security measures B. Labeling documents C. Restricting access D. Maintaining logbooks for access to sensitive material E. Maintaining logbooks for visitors
A. Maintaining low-cost overall security measures
3 steps to register a trademark
(1) select an appropriate trademark, (2) perform a trademark search, and (3) create rights in the trademark
In 2016, the United States Patent & Trademark Office (USPTO) received more than ___ patent applications.
600,000
Which of the following CAN be trademarked? A. Deceptive matter B. Sounds C. Surnames D. Descriptive marks E. Immoral or scandalous matter
B. Sounds
two rules of thumb for determining whether intellectual property is worth the time and expense of protecting
First, a firm should determine whether the intellectual property in question is directly related to its current competitive advantage or could facilitate developing future competitive advantages. Second, it's important to know whether the intellectual property has independent value in the marketplace.
things that cannot be trademarked
Immoral or scandalous matter, deceptive matter, descriptive marks, and surnames
the four types of trademarks
Trademarks, service marks, collective marks, and certification marks
True or False? A patent can be sold or licensed.
True.