c7 intellectual property management in innovation Flashcards
refers to creations of the mind, such as inventions, artistic works, designs,
names, and symbols used in commerce.
intellectual property
gives the creator exclusive rights to use and benefit from their creations for a certain period
intellectual property
Protect inventions or processes that offer a new way of doing something or solve a specific problem.
patents
duration of patents
typically 20 yrs
examples of patents
Pharmaceutical drugs, machinery, software algorithms.
Protect logos, names, symbols, or designs that distinguish products or services.
trademarks
examples of trademarks
Nike swoosh, Coca-Cola logo.
Protect original artistic and literary works, including books, music, films, and software.
copyrights
duration of copyrights
life of the author plus 50-70 years
examples of copyright
novel, song, video game
protect the aesthetic aspect of an object, such as its shape, pattern, or color
industrial designs
duration of industrial designs
typically 10-15 years
Protect confidential business information that provides a competitive advantage.
trade secrets
The process of identifying, protecting, and leveraging intellectual property to maximize its value for innovation and business growth.
IP management
key steps in management
identification
protection
enforcement
commercialization
Determine what aspects of the innovation can be protected as IP.
identification
role in the innovation process
idea stage
development stage
market launch
stage wherein identify potential IP from the start
idea stage
secuire IP rights before sharing with partners or stakeholders
development stage
use IP as a competitive advantage to protect the innovation
market launch
o Align IP protection with business goals.
o Prioritize protecting critical aspects of the innovation.
develop an ip strat
o Identify existing IP assets.
o Ensure compliance with IP laws and renew protections as needed.
conduct regular IP audits
o Stay updated on industry trends to identify potential infringements.
monitor competitors and the market
o License IP to other businesses for additional revenue streams.
o Collaborate with partners to co-develop and share IP.
use licensing and collaboration
o Ensure employees understand the importance of IP and their role in protecting it.
educate teams about IP
challenges in IP management
cost of protection
global IP enforcement
infringement risks
mismanagements of IP assets
filing and maintaining patents, trademarks, or copyrights can be expensive
cost of protection
o Laws and regulations vary across countries, making enforcement complex.
global IP enforcement
o Competitors or third parties may attempt to replicate or steal innovations.
Infringement risks
o Failure to identify or protect IP can result in lost opportunities or disputes.
mismanagement of IP assets
(case study) Leveraged patents to protect groundbreaking technologies in smartphones and computers.
apple inc
(case study) Invested heavily in protecting vacuum cleaner innovations, ensuring dominance in the market.
dyson
(case study) Maintains trade secrets to safeguard its iconic beverage formula.
coca-cola
critical for safeguarding innovations and maximizing their value.
intellectual property management
fosters creativity, secures competitive advantages, and drives economic
growth.
effective ip management
must stay informed about IP laws and adopt proactive strategies to protect
and leverage their intellectual assets.
innovators and businesses
