Chapter 10 Intellectual Property

Chapter 10 Intellectual Property - Chapter 10 Intellectual...

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Chapter 10 Intellectual Property Concepts ................................................ Theme: Property is right to exclude, but boundary line is fuzzy. ................................................ Common law/tort statutes balance individual interests. Intellectual Property Justification ............ productivity of economic self-interest creates social good Competitive Disadvantage ................. R&D expenses avoided by copycats :. Don’t incur them. Knowledge Assets .................................... “how to, where to, who to” estimated 75% value Trade Secrets .......................................... industrial revolution common law development, anything that ................................................ (1) the owner took reasonable steps to keep secret, and ................................................ (2) has economic value by not being publicly known (1) Steps to protect ............................. a) trade secret audit, b) restrict, secure, lock up, c) non- ................................................ disclosure agreements (E/Es, visitors, contractors) Employees .................................... bind with confidentiality agreements and covenants not to ................................................ compete (business purpose e.g. training, trade secrets) (2) Economic Value ........................... Specific/complete details secret tho others have part of info Misappropriation Enforcement ................ injuctions & damages Criminal Enforcement .............................. Economic Espionage Act up to 10 yrs/$5 million. Patents ................................................ legal monopoly restricting copying/marketing a new invention ................................................ Intangible asset – invention applies an idea to something ................................................ Protects against infringer uses w/o paying license fees Patent & Trademark Office ...................... PTO issues patents – creates presumption testable in court ................................................ Pay fee & file application showing a) how to make & use, ................................................ b) differs from prior art, c) which claims request protection ................................................ Patent examiner takes several years Patentable Subject Matter ........................ processes, machines, compositions of matter, improvements, ................................................ designs, plants, life-forms
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