Intellectual Property Flashcards
Why protect IP?
3 reasons
- more valuable than tangibles
- gains and maintains competitive advantage
- respect of IP cuts both ways
(1) trademarks
What is at risk if unprotected?
loss of registration
becomes generic
(2) patents
What is at risk if unprotected?
others can commercialize the invention
Patents
What are the application specifications
(claims)
must specify how it works and what makes it patentable
Patents
Can patents be renewed
no
Patents - infringements
Infringers can defend with good faith ignorance
no
pantents - infringements
How can damages be recovered
what would make it possible to file legal action
give notice
and/or “constructive notice
constructive notice - marking item with patent and patent number
Patents
What are possible remedies for patents
there are 3 main ones
injunction relief, compensatory damage, attorney’s fees
treble (3x compensatory) if egregorious
Types of patents
Utility
what are they?
hint: 4 traits
non-obvious, new, useful, and produce a result
20 years after application date
Types of patents
Plant
what is it?…what does it protect?
when does it expire?
protects new variety of a plant
must be asexually reproduced
20 years after application date
Types of patents
Business
what does it protect?
when does it expire?
means of doing business
20 years after application date
Types of patents
Design
what is it and when does it expire?
new, original ornamental
designs
14 years from date of issue
Trademarks
How to know if a trademark is fully registered
R
TM is application is in process
Cybermarks
What is cybersquatting
when one entity registers
a domain name that is substantially
similar to the mark of another and
then tries to sell it to them
Trademarks
Servicemarks
What are they and what do they do?
differentiate services (not tangible
goods or products)
ex. golden arches for McDonalds
