Week 10: Intellectual Property, Professionalism & Community Flashcards
What are the four broad categories of intellectual property (IP)?
Copyright, Patent, Trade mark, and Trade Secret
What is copyright, and how is it granted?
Copyright is a legal restriction on copying creative works for a limited time. It is automatically granted when a work is authored.
Who owns copyright if the work is created during the course of employment?
Copyright may belong to the employer, though determining “course of employment” can create legal issues.
What is a patent, and how is it different from copyright?
A patent is granted for a novel and non-obvious design for a limited time (usually 20 years) and must be applied for, unlike copyright, which is automatic.
What is a trade mark?
A trade mark is a graphical image, word, or sound under which a person or organization is well-known.
What is a trade secret?
A trade secret is a process or formula that is closely guarded and has no time limit.
What is a monopoly?
A monopoly is the exclusive possession or control of the supply of or trade in a commodity or service.
How can monopolies develop?
Monopolies can develop through horizontal and vertical convergence.
Why are monopolies typically illegal under antitrust laws?
They can lead to price fixing, inferior products, reduced innovation, and inflation.
What issues does intellectual property face in the digital era?
Software can be infinitely copied without degradation.
Software is easily distributable, making it difficult to control.
How long does a modern patent last?
Around 20 years, though patent holders are not obligated to grant licenses.
Why are software patents controversial?
The speed of software development often outpaces the 20-year monopoly period, and tech companies frequently engage in patent lawsuits.
