15. Intellectual Property

15. Intellectual Property - 4/8/2008 Intellectual Property...

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4/8/2008 1 Intellectual Property Intellectual Property • Legal mechanisms to protect the rights of intellectual property owners for: – ideas – concepts – names – designs – processes The legal mechanisms are intended – To provide an incentive and reward to those who create new useful inventions – To encourage the dissemination of information for the long-run benefit of society
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4/8/2008 2 Four types of IP Patent •a temporary monopoly granted by a government to an inventor to exclude others from using an invention •in US, a patent expires 20 years from the filing date Trademark •an exclusive right granted by a government to a trademark owner to use a specific name or symbol •brands •product names Copyright •an exclusive right granted by a government to copy and distribute an original work of expression •literature, graphics, music, art entertainment, or software •last 95 years Trade secret •information used in a trade or business that offers its owner a competitive advantage and that can be kept secret •(ex) the formula for the beverage Coca-Cola last 95 years Intellectual Property Patents Trademarks Utility Patents Design Patents Plant Patents Copyright Trade Secret Word or Symbol Original work of expression Proprietary and useful may be registered, not registered 1. Useful 2. Novel 3. Nonobvious Ornament design only New Plant requires formal application but not necessary
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4/8/2008 3 Patents • a contract between society and inventors.
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15. Intellectual Property - 4/8/2008 Intellectual Property...

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