how to protect innovation and interllectual protperty Flashcards
what is intellectual protperty
intangible assets created by a business through their creativity and investment
intellectual property is an
investment
becuae IP is an investment we look to get a
we hope to generate returns int eh future and its hte returns which the bs look to protect
what can be our IP
Product and process innovation
why shoudl we protect ip
Maintain usp
Max ROI
Reduce threat of comp
to maintin its comp a business musut
be able to prevent rivals from copying what it does
what does protecting ip mean
gets legal protection for its ideas invention preventing other imitiitn them
ip is something unique a business
physically creates - not just having an idea
what can we get protection for
Names of your products/brands
Inventions
design/look of products
Things taht are written made or produced
ins some case bs or individual automatically has the right to
prtoeciton e.g rigjts to a song
give me a situation wehre its possible to have more than one type of protection for a single product
using copyright to protect drawings of the product
Patent a completely new working part
why is protecitng ip important for innovation
as if bs felt innovation gonna be copied by rivals immediately this would be a major disincentive to invest in developing new ideas
if business feel tehy can protect hier innovaiton what is the impact
If bs feel why can protect their innovations this means they are more likely t be able to gain a good return on their investment encouragin more innovation
For global bs they need to protect their ip on diff regions by
registering it around hte world - in some areas this protection is limited and difficult to enforce
to protect ip a busienss has got to take anyone who strals it to court but this is
time consumign and expensive
if bsgets patent for its product explain whta hppens
helps bs prevent or delay another from copying its invention
But theyre hard to achieve so having one is a great tool creating a comp advantage
If youve created a comp adv got less threat from your rivals as they cant copy yout invention so you can increase prices and therfore increase profit margins (as less sub available)
what is a patent
designed to protect inventions do so by providing a time period of many years in which invention cantbe copied by anyone else
what are hte 3 conditions for a patent
New
An innovative step
Not excludable
what is copyright
protection afforded to the creators of work such as writing, music, art and other outputs from a creative process
unlike patenets copyright is
holders of copyright do not need to apply for protection – it is given automaticall
what are hte key points ofr copyright
Protection is automatic for any original work
Lasts for 70 years after authors death
Can control how copyrighted work is exploited (e.g. licence, royalties)
Widely used as a way of protecting creative work of all kinds
you can ctrly how copyrighted work is exploted
businesses differ int erms of how much
emphasis they put on innovation
Some bs make new product development a part of its strategy DYSON whilst others focus more on following others ZARA
trying to eb more innovaitve dont guarantee
sucssq
