PERTIZ IP OUTLINE 1

PERTIZ IP OUTLINE 1 - INTELLECTUAL PROPERTY- PERITZ (SPRING...

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INTELLECTUAL PROPERTY- PERITZ (SPRING 2003) INTELLECTUAL PROPERTY- A category of intangible rights protecting commercially valuable products of the human intellect. The category comprises primarily trademark, copyright, and patent rights, but also includes trade-secret rights, publicity rights, moral rights, and rights against unfair competition. A commercially valuable product of the human intellect, in a concrete or abstract form, such as a copyrightable work, a protectable trademark, a patentable invention, or a trade secret. OVERVIEW OF IP- 1. Trade Secret- A formula, process, device, or other business information that is kept confidential to maintain an advantage over competitors; information-including a formula, pattern, compilation, program, device, method, technique, or process- that 1) derives independent economic value, actual or potential, from not being generally known or readily ascertainable by others who can obtain economic value from its disclosure or use, and 2) is the subject of reasonable efforts, under the circumstances, to maintain its secrecy. This definition states the majority view, which is found in the UNIFORM TRADE SECRETS ACT . a. State Law Doctrine- most states protect trade secrets by statute. The purpose is to prevent “theft” of information by unfair or commercially unreasonable means. A form of PRIVATE intellectual property law under which creators establish contractual limitations or build “fences” that afford protection from misappropriation. b. Extent of Protection- trade secrets have no definite term of protection but may be protected only as long as they are secret. Once a trade secret is disclosed, protection is lost. c. Courts- generally will find misappropriation of trade secrets in two circumstances: 1) where the secrets were obtained by theft or improper means, and 2) where they were used or disclosed by the defendant in violation of a confidential relationship. [No protection against independent discovery or invention, or “reverse engineering.”] d. PRIVATE IP Law creators establish contractual limits or build “fences” that afford protection from misappropriation e. Misappropriate courts will find misappropriation in two circumstances I. Where secrets were obtained by theft or improper means II. Where they were used or disclosed by Δ in violation of a confidential relationship (NO protection for independent discovery, invention or reverse engineering) f. Remedy- damages and in some cases injunctions against further use or disclosure. 2. Patent- the governmental grant of a right, privilege or authority. The official document so granting the exclusive right to make, use, or sell an invention for a specified period (usu. 17 years ), granted by the federal gov’t to the inventor if the device or process is 1) novel; 2) useful; and 3) non-obvious. 35 U.S.C.A. §§ 101-103 . a.
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PERTIZ IP OUTLINE 1 - INTELLECTUAL PROPERTY- PERITZ (SPRING...

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