Intellectual Property
Common mistakes
Not properly identifying all their IP
Not fully recognising the value of their IP
Not legally protecting the IP that needs it
Not using their IP as part of their overall plan for success
4 key forms of IP
Patents
Trademarks
Copyrights
Designs
Grant from govt. allowing excluding others
Increased interest in patents
U.S. office has granted >6m patents
Is strained, takes 35.6 months in US
Different in Ireland - decreasing interest
3 basic requirements
Useful
Novel
Not Obvious
Types of patent
Utility
Design
Plant
New process, machine, composition of materials or improvement
20 years duration from date of application
Invention of new, original ornamental design for manufactured products
14 years from date of application
Any new varieties of plants that can reproduce asexually
20 years from date of application
Business Method Patent
Protects an invention / way of doing business
Notable ones such as Amazons 'One-click ordering' system
Patent infringement
When one party makes use of another partys patent
Costly to litigate, tough for small companies
Word, name, symbol or device used to identify and distinguish products or services
Types of Trademark
Trademark
Any word, name, symbol or device used to distinguish a brand from another
Renewable every 10 years if still in use
Service mark
Used to identify services rather than products
Renewable every 10 years as long as it is in use
Exclusions
Immoral or scandalous matter
Deceptive manner
Descriptive Marks
Surnames
Grants the creator of a work the right to determine how the work is used and obtain economic benefits
What is protected?
Literary works
Musical Compositions
Computer Software
Dramatic works
Pantomimes and choreographic works
Pictorial, graphic and sculptural works
Exclusions
Idea-Expression dichotomy
Ideas cannot be copyrighted
Descriptions of the implementations can be
Copyright Infringement
Occurs when one work derives or is a copy of another work
To prove infringement, the owner must prove the accused had access to the work and that the work was similar enough
Conducting an IP audit
Used to determine the IP a firm owns
2 reasons for conducting the audit
Determind if IP is properly protected
Prepared to justify its valuation in the event of aquisition or merger
Process of conducting the audit
First Step: Develop an inventory of all IP
Second Step: Identify WIP and ensure they are being protected