how to protect innovation and interllectual protperty

Question 1

what is intellectual protperty

Answer 1

intangible assets created by a business through their creativity and investment

Question 2

intellectual property is an

Answer 2

investment

Question 3

becuae IP is an investment we look to get a

Answer 3

we hope to generate returns int eh future and its hte returns which the bs look to protect

Question 4

what can be our IP

Answer 4

Product and process innovation

Question 5

why shoudl we protect ip

Answer 5

Maintain usp
Max ROI
Reduce threat of comp

Question 6

to maintin its comp a business musut

Answer 6

be able to prevent rivals from copying what it does

Question 7

what does protecting ip mean

Answer 7

gets legal protection for its ideas invention preventing other imitiitn them

Question 8

ip is something unique a business

Answer 8

physically creates - not just having an idea

Question 9

what can we get protection for

Answer 9

Names of your products/brands
Inventions
design/look of products
Things taht are written made or produced

Question 10

ins some case bs or individual automatically has the right to

Answer 10

prtoeciton e.g rigjts to a song

Question 11

give me a situation wehre its possible to have more than one type of protection for a single product

Answer 11

using copyright to protect drawings of the product
Patent a completely new working part

Question 12

why is protecitng ip important for innovation

Answer 12

as if bs felt innovation gonna be copied by rivals immediately this would be a major disincentive to invest in developing new ideas

Question 13

if business feel tehy can protect hier innovaiton what is the impact

Answer 13

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

Question 14

For global bs they need to protect their ip on diff regions by

Answer 14

registering it around hte world - in some areas this protection is limited and difficult to enforce

Question 15

to protect ip a busienss has got to take anyone who strals it to court but this is

Answer 15

time consumign and expensive

Question 16

if bsgets patent for its product explain whta hppens

Answer 16

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)

Question 17

what is a patent

Answer 17

designed to protect inventions do so by providing a time period of many years in which invention cantbe copied by anyone else

Question 18

what are hte 3 conditions for a patent

Answer 18

New
An innovative step
Not excludable

Question 19

what is copyright

Answer 19

protection afforded to the creators of work such as writing, music, art and other outputs from a creative process

Question 20

unlike patenets copyright is

Answer 20

holders of copyright do not need to apply for protection – it is given automaticall

Question 21

what are hte key points ofr copyright

Answer 21

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

Question 22

businesses differ int erms of how much

Answer 22

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

Question 23

trying to eb more innovaitve dont guarantee

Answer 23

sucssq