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INNOV MANAGEMENT > c7 intellectual property management in innovation > Flashcards

c7 intellectual property management in innovation Flashcards

1
Q

refers to creations of the mind, such as inventions, artistic works, designs,
names, and symbols used in commerce.

A

intellectual property

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2
Q

gives the creator exclusive rights to use and benefit from their creations for a certain period

A

intellectual property

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3
Q

Protect inventions or processes that offer a new way of doing something or solve a specific problem.

A

patents

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4
Q

duration of patents

A

typically 20 yrs

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5
Q

examples of patents

A

Pharmaceutical drugs, machinery, software algorithms.

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6
Q

Protect logos, names, symbols, or designs that distinguish products or services.

A

trademarks

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7
Q

examples of trademarks

A

Nike swoosh, Coca-Cola logo.

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8
Q

Protect original artistic and literary works, including books, music, films, and software.

A

copyrights

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9
Q

duration of copyrights

A

life of the author plus 50-70 years

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10
Q

examples of copyright

A

novel, song, video game

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11
Q

protect the aesthetic aspect of an object, such as its shape, pattern, or color

A

industrial designs

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12
Q

duration of industrial designs

A

typically 10-15 years

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13
Q

Protect confidential business information that provides a competitive advantage.

A

trade secrets

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14
Q

The process of identifying, protecting, and leveraging intellectual property to maximize its value for innovation and business growth.

A

IP management

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15
Q

key steps in management

A

identification
protection
enforcement
commercialization

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16
Q

Determine what aspects of the innovation can be protected as IP.

A

identification

17
Q

role in the innovation process

A

idea stage
development stage
market launch

18
Q

stage wherein identify potential IP from the start

A

idea stage

19
Q

secuire IP rights before sharing with partners or stakeholders

A

development stage

20
Q

use IP as a competitive advantage to protect the innovation

A

market launch

21
Q

o Align IP protection with business goals.
o Prioritize protecting critical aspects of the innovation.

A

develop an ip strat

22
Q

o Identify existing IP assets.
o Ensure compliance with IP laws and renew protections as needed.

A

conduct regular IP audits

23
Q

o Stay updated on industry trends to identify potential infringements.

A

monitor competitors and the market

24
Q

o License IP to other businesses for additional revenue streams.
o Collaborate with partners to co-develop and share IP.

A

use licensing and collaboration

25
Q

o Ensure employees understand the importance of IP and their role in protecting it.

A

educate teams about IP

26
Q

challenges in IP management

A

cost of protection
global IP enforcement
infringement risks
mismanagements of IP assets

27
Q

filing and maintaining patents, trademarks, or copyrights can be expensive

A

cost of protection

28
Q

o Laws and regulations vary across countries, making enforcement complex.

A

global IP enforcement

29
Q

o Competitors or third parties may attempt to replicate or steal innovations.

A

Infringement risks

30
Q

o Failure to identify or protect IP can result in lost opportunities or disputes.

A

mismanagement of IP assets

31
Q

(case study) Leveraged patents to protect groundbreaking technologies in smartphones and computers.

A

apple inc

32
Q

(case study) Invested heavily in protecting vacuum cleaner innovations, ensuring dominance in the market.

A

dyson

33
Q

(case study) Maintains trade secrets to safeguard its iconic beverage formula.

A

coca-cola

34
Q

critical for safeguarding innovations and maximizing their value.

A

intellectual property management

35
Q

fosters creativity, secures competitive advantages, and drives economic
growth.

A

effective ip management

36
Q

must stay informed about IP laws and adopt proactive strategies to protect
and leverage their intellectual assets.

A

innovators and businesses

INNOV MANAGEMENT (8 decks)

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