Ch. 12 - CHAPTER 12 THE IMPORTANCE OF INTELLECTUAL PROPERTY...

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CHAPTER 12 THE IMPORTANCE OF INTELLECTUAL PROPERTY The Importance of Intellectual Property - any product of human intellect that is intangible but has value in the marketplace. Increasingly, a company’s intellectual assets are their most valuable. What Intellectual Property to Protect 1. Is the intellectual property in directly related to one’s comp adv? 2. Does the intellectual property have value in the marketplace? B. The Four Key Forms of Intellectual Property 1. Patents, trademarks, copyrights, and trade secrets are the four key forms of intellectual property. 2. Intellectual property laws exist to encourage creativity and innovation by granting to individuals who risk their time and money in creative endeavors exclusive rights to the fruits of their labors for a period of time. B. Four Key Forms of Intellectual Property 1. Patents, 2. trademarks, 3. copyrights, and 4. trade secrets 1. PATENTS - a grant from the federal gov’t conferring the rights to exclude others from making, selling, or using an invention for the term of the patent. The only form of intellectual property right expressly mentioned in the original articles of the U.S. Constitution. Three Types of Patents i. Utility Patents ii. Design Patents iii. Plant Patents
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1. Utility Patents - (most common ) covers new inventions or any new and useful improvement thereof.” 3 basic requirements: the invention must be useful, it must be novel in relation to prior arts in the field, and it must not be obvious to a person of ordinary skill in the field
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This note was uploaded on 03/28/2011 for the course MNGT 305 taught by Professor Chadwick during the Spring '11 term at Nicholls State.

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Ch. 12 - CHAPTER 12 THE IMPORTANCE OF INTELLECTUAL PROPERTY...

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