Intellectual Property.pptx - Intellectual Property Cyber Piracy Chapter 7 Introduction to Intellectual Property Cyber Piracy \u2022 The U.S Economy is

Intellectual Property.pptx - Intellectual Property Cyber...

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Intellectual Property & Cyber PiracyChapter 7
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Introduction to Intellectual Property & Cyber PiracyThe U.S. Economy is based on freedom of ownership and property. Intellectual Property Rights have value to both businesses and individuals. Federal Law provides protections for intellectual property rights such as : patents, copyrights, and trademarks. Federal Statutes provide for either civil damages or criminal penalties or both to be assessed against those who infringe patents, copyrights, and trademarks. State laws provide protection for Trade Secrets.
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Intellectual Property (IP)Intellectual Property is a term that describes property that is developed through an intellectual and creative process. IP falls into a category of property known as intangible rights, which are not tangible physical objects. IP includes Trade Secret, Patent, Copyright, Trademark. Examples?
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Trade SecretMany businesses are successful because of trade secretsthat set them apart from their competitors. Trade secrets may be product formulas, patterns, designs, compilations of data, customer lists, or other business secrets. Many Trade Secrets do not qualify to be copyrighted, patented, or trademarked. Because of this, many states have adopted the Uniform Trade Secrets Actto give statutory protection to trade secrets. State Unfair Competition Laws allow the owner of a trade secret to bring a lawsuit for misappropriationagainst anyone who steals a trade secret. For the lawsuit to be actionable, the defendant must have obtained the trade secret through unlawful means, such as theft, bribery, or industrial espionage.
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Trade Secret: Reverse EngineeringA competitor can legally discover a trade secret by reverse engineering(i.e. taking apart and examining a rival’s product or re-creating a secret recipe). A competitor who has reverse engineered a trade secret can use the trade secret, but not the trademarked name used by the original creator of the trade secret.
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Misappropriation of a Trade SecretThe owner of a trade secret can bring a civil lawsuit under state law against anyone who has misappropriated a trade secret through unlawful means, such as theft, bribery, or industrial espionage. If a Plaintiff is successful in the misappropriation of a trade secret case can recover 1) the profits made by the offender from the use of the trade secret, 2) damages and 3) obtain an injunction prohibiting the offender from revealing or using the trade secret.
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Trade Secret: Economic Espionage AgeCongress enacted the Economic Espionage Act(EEA) which makes it a federal crime to steal another’s trade secrets.Under the EEA, it is a federal crime for any person to convert a trade secret to his or her benefit or for the benefit of others, knowing or intending that the act would cause injury to the owner of the trade secret.
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