Speaker Craig
Intellectual property
· Intangible: patent, service marks, trade secrets, trade marks
· IP portfolio $5 trillion in the U.S… more than the GDP
· One reason to have IP is for incentive to create more in the future
Patents
· Useful, new and non-obvious invention
· Founded in U.S constitution article 1 section 8
· Philosophy-incentive to invent rewarded 20 year patent term once it’s issued ($10,000) to draft a patent. Where can you enforce a patent? Once you decide to get it!
· Types: utility-products, compositions, methods (20yrs) Design- non functional ornamental plant- invented or discovered, asexually reproduced plant varieties. (14yrs)
· Enforceability of patent rights: in U.S federal courts, injunctive relief and damages may be sought, and damages can be actual loss or a reasonable royalty.
· Patent atrol: the little guy who doesn’t make it.
Trademarks
· Protects words, names, symbols, sounds, or colors that distinguish goods and services. These can be renewed forever as long as it’s being used. Logos, brand names, the roar of the MGM lion, the pink of the insulation made by Owens-corning, and the shape of a coke bottle (trade dress)
· Protection: passing off and enforced in federal or in state court with injunctive relief and damages
· Registration gives you nationwide coverage
Copyrights
· Protects authorship fixed tangible media writings, maps, music, film, artwork
Trade secrets
· Protects valuable confidential information for an unlimited time, e.g. coke formula
· Spawns confidentiality agreements with employers
· Violation is a misappropriation of confidential info.
Smartpropertylaw.com
$5000 is the cheapest patent…
