Page 50! Flashcards
What is a patent?
Monopoly granted by the federal government for a limited period of time
What is the period of time that most patents run for?
17 years
What is a patent meant to do?
Encourage inventions
What must your idea be in order to get a patent?
Novel and inventive, not an extension of prior art, and the knowledge can’t have already been part of the public domain
What happens to a patent after 17 years?
The knowledge becomes available to the public
What are copyrights?
Federally granted right for authors of original works
Who can get a copyright?
People that originate original works
- authors
- creators
- composers
- painters
- photographers
How long does a copyright last for?
The author’s life +70 years
What is a trade secret?
Any info that has economic value that can be used to economic advantage in the operation of an enterprise
What are examples of trade secrets?
Chemical formulas and production techniques
If you buy someone’s product and figure out their secret to making it, is that considered tortious breach of trade secrets?
No
What is trademark infringement?
When a symbol or device with enough similarity creates confusion/likelihood of confusion with potential customers
What is an example of a trademark infringement?
If you sell soup with a red and white label and brand it “Camp’s Soup”
What is trademark dilution?
Anything that blurs the unique standing of a recognized brand
What is an example of trademark dilution?
Calling a restaurant Tiffany’s
What is injurious falsehood?
A false statement made to another by the defendant that causes economic injury to the plaintiff
What kind of property is included in injurious falsehood?
Real property, personal property, tangible property, intangible property, goodwill of the business, etc.
What are the elements of injurious falsehood?
- false statement by D
- publication
- statement disparages business/property/financial interests of P
- intent
- causation
- damages
How do you prove that a statement is disparaging for injurious falsehood?
If it is reasonably likely to discourage others from dealing with the plaintiff or interferes with plaintiff’s relations with others disadvantageously
What is trade libel?
Statements that are derogatory of the plaintiff’s business or the manner in which it is conducted
If a city put someone at an intersection to hold up the stop sign every time a train crosses the road for 20 years, what has the city assumed?
Duty to aid drivers, and drivers came to rely on it, so if the sign holder falls asleep then the city has breached its duty
What are laches?
Defense when the plaintiff:
- sits on his rights too long and unreasonably delays prosecuting his lawsuit
- the delay results in prejudice to the defendant
Then laches will bar the plaintiff’s suit
If two answers on the test are very similar, what does that usually mean?
Both are wrong, because the real answer has to be unambiguously right
If the answer choice has three answers with an explanation and one without, what is likely the correct one?
The one without because the other answer choices are meant to get you to pick them
What is intellectual property?
Rights in intangibles like patents, copyrights, trademarks, and trade secrets
