14. Intellectual property Flashcards
What is IP and what is IPR?
IP - Intellectual Property
IPR - Intellectual Property Rights
What is intellectual property?
Intellectual property is something unique that you physically create. It could be an amazing invention, machine or medicine; a book, song or work of art; a business name or product design.
Why should you protect your intellectual property?
By protecting your intellectual property, it is easier to accelerate legal proceedings in the event you find someone attempting to steal or imitate your IP; known as an infringement.
What does the protection form the UK intellectual property office has offered protection for intellectual property?
There is protection on patents, registered designs, trademarks and copyright.
Why is protection for IP is essential for a healthy creative industry?
It encourages entrepreneurs and supports commercial research. That’s why an understanding of IP is important for people in lots of different careers.
Is an idea intellectual property?
An idea for a book doesn’t count, but the words you’ve written do.
Can IP be bought and sold?
Yes it can, an example when a large company buys a small company so it can own its discoveries.
What happens if IP is properly managed?
If properly managed, IP can amount to 70% of a business’s value.
Can IP be automatic?
Some types of IP are automatic, like copyright for books, art, films, music etc - and some you have to apply for (like patents and trademarks).
How long does a design right last?
Up to 10 years after first sold or 15 years after creation
What does design right apply to?
It applies to shapes and configurations.
Is design rate automatic?
Automatic - though you’ll need proof f when you created a design
What does design right do?
It stops someone copying your design
How long does copyright last?
Creator’s life plus 70 years
What does copyright protect?
Music, art, film, literary works and broadcasts