¶ … intellectual property? Why is it called "intellectual" property? Why is intellectual property such an important issue for entrepreneurial firms?
Intellectual property specifically refers to "creations of the mind" which are the protected work of an individual or an organization ("What is IP," 2015). These include "literary and artistic works; designs; and symbols, names and images used in commerce" ("What is IP," 2015). Intellectual property enables people and companies to financially benefit from what they create even if it is not a physical product and to self-identify by a unique image in the marketplace. The concept is important for entrepreneurial firms whose bottom line is dependent upon the creation of new ideas such as inventions and new processes. IP is protected by patents, copyright, and trademarks ("What is IP," 2015).
Identify and briefly describe the three types of patents.
The first type of patent is called utility patient which is used for a "new, useful invention that is not obvious to others in the field of invention" involving "a process, a machine,...
A design patent refers to a new and unique design and prevents people from copying its appearance (Stim 2015). A plant patent is the rarest type of patent, granted "for any novel, nonobvious, asexually reproducible plant" (Stim 2015).
Part C: What is a trademark? Why are trademarks important?
"A trademark is a word, phrase, symbol or design, or a combination of words, phrases, symbols or designs, that identifies and distinguishes the source of the goods of one party from those of others" ("Trademark, copyright or patent," 2010). Trademarks are used to identify a company's unique product and can be a critical source of differentiation in the marketplace. Trademarks help identify when a product is being counterfeited. Companies make a great investment in generating their brand image and trademark law permits them to do so.
Part D: What is a copyright? What is protected by a copyright?
Copyright law protects artistic works such as literary, musical, and visual artistic works. It gives the artist the sole right to profit from the work, including the right to sell copies and perform it, to display it, and to produce derivative works. "Copyright protection subsists from the time the work is created in fixed form. The copyright in the work…
Intellectual property can be described as any exceptional product of human intellect or the mind. Some common examples of intellectual properties include software, music, symbols, movies, designs, symbols, words and phrases. Similar to other properties, intellectual property is safeguarded by relevant laws that seek to protect the interests of creators. These laws seek to achieve this by giving the creators rights over their respective creations. However, the protection of intellectual
In the contemporary cyber environment, innovation does not enhance success. For example, most patents such as songs and books receive low rewards. The author suggests that there is a need to make rules to enhance the bargain of intellectual property owners. Part 2 In the contemporary cyberspace and it world, the traditional copyright law has not been sufficient to protect intellectual property right in the face current development of computer and
In conclusion, I believe that the anti-circumvention provision is important since it makes sense to prevent unauthorized uses of the intellectual works of the owner who have put so much time and efforts in producing the work. If a person had a legitimate fair use reason for accessing a work, then nothing in the provision would prevent him or her from doing so. This provision is also important since it offers the
America and China Trade Relations Intellectual property is very important as American business continues to expand and develops. Businesses are now attempting to penetrate foreign markets which are unique in their laws, customers and beliefs. International trade is no different in this regard as business attempts to capitalize on a burgeoning middle class in China. As such, it is important for business to protect the intellectual capital that made their operations
China's Intellectual Property Rights: Current Issues, Strategic Considerations And Problem Solving In this paper, the focus is primarily on the Intellectual Property Rights (IPR) that are given to individuals within the Republic of China. The paper starts off by defining IPR and the different ways that IPR is provided like copyright infringement. The paper them moves on to define IPR and its progression in China through the imperialistic years, the era
Research: As we can see in the preliminary discussion above, in the face of the extension of copyright and patent-heavy cultures from western nations to global trade relationships, the very conflict between capitalism and social progressivism is implicated. Indeed, many socially conscious global economic groups are protesting international intellectual property laws that they say are burdensome to developing economies and which favor the sense of entitlement and ownership typically reserved for