Discovering the value in Intellectual property

Patterns of EntrepreneurshipChapter 8

Intellectual property Intangible property that is the result of creativity, such as

Trademarks, copyrights, etc.

Patents Copyrights Trademarks Trade secrets Other results of intellectual activity

– Know-how– Chip (and other) designs– Plant designs– "Ways of doing"

Intellectual propertyIntellectual property is important to the entrepreneur because it can generate profits and create a form of competitive advantage.

TrademarksTrademark is a recognizable sign, design or expression which

identifies products or services of a particular source from those of others.

Trademarks are in some cases synonymous with “brands.”

Trademarks Service mark : It applies to services rather than to

products)

Collective mark : Owned by an organization (such as an association), used by its members them to identify themselves with a level of quality or accuracy, or other characteristics set by the organization.

Certification mark : Is used by entities other than the owner of the mark but with the owner’s permission.

What is the value of Trademark?Consumer form impression about different

product or services. Impressions guide the consumer in making

decisions.Trademark help in forming those

impression.

How are Trademark Registered?Prepare Application

(Trade mark is described with ownership declaration)

Prepare Drawings(Formal drawing on white paper using black ink)

Prepare document(Prepare image, photograph, or artist rendering)

How Are Trademarks Selected Selecting the right trademark can be a useful

marketing tool, creating a favorable impression on target consumers.

Choosing a distinct trademark also serves to avoid issues of trademark infringement.

How Are Trademarks Selected There are some rules to follow to avoid running into

trouble. The first is to avoid using marks similar to those of

competitors. Descriptive of product or services the company may

offer should also be avoided. Avoid Family or city name. Avoid Generic Terms.

How Are Trademarks Selected The best trademarks are those that apply

terms that are unique. The ideal mark is one employing a coined term. Go for Suggestive mark. Arbitrary

Trademarks It is highly advisable that an applicant

conduct a search of existing marks before submitting a trademark application.

Trademark is a transferable asset. It can be Licensed or sold by their owners to

generate revenue.

Copyrights Copyrights are instruments of legal protection

given to authors of original work of writing, art, musical composition, photography, and architectural design.

How do copyrights help Entrepreneurs?

How do Entrepreneurs obtain a copyright ?

Declaration Application Deposit Issue

How are copyrights protected and Enforced?

To protect their works from copyright infringement, copyright holders must provide comprehensive notice of their copyright.

Get registered with USCO.

Patents The U.S Government originally established patents as a

way to encourage invention and technological progress by granting those who brought such progress to the nation rights from which they could gain personally.

In the United States, a design patent is a form of legal protection granted to the ornamental design of a functional item. Design patents are a type of industrial design right. Ornamental designs of jewelry, furniture, beverage containers.

Plant Patents are issued to individual who have invented or discovered a novel type of plant.

Patents Utility patents are issued to individuals who have

invented novel processes, or improvement.

What are the qualification for a Patent to be granted?

Scope Utility Novelty Non-Obviousness Reduction to practice

What professional Assistance is Available?

In order to ensure that adequate background work is done in producing a patent application for submittal, inventors should seek the services of a registered patent agent or attorney.

Agents Attorneys Representative

What is Prior Art ? Prior art refers to prior inventions that may affect the

patentability of the invention. Internet search Agencies Government Resources.

What is the Patent Application Process? USPTO offers a choice of two patent application

depending on what state of development an inventor’s subject is in at the time.

Non-provisional application Provisional Application.

Patent Review Process

Patent Pending

Patent Grant

Trade Secret A trade secret can be any useful information

that is not generally known. “Anything you don’t want the competition know.”

“Confidential”

Advantages and Disadvantages Trade secret’s greatest advantage over other forms of

intellectual property may be in the potentially limitless duration of its value and service to its owner.

Cannot be protected. Can be licensed.

How Are Trade Secret Protected?