Please enable JavaScript.
Coggle requires JavaScript to display documents.
TOPIK 5: PROTECTING THE IDEA AND OTHER LEGAL ISSUES FOR THE ENTREPRENEUR -…
TOPIK 5: PROTECTING THE IDEA AND OTHER LEGAL ISSUES FOR THE ENTREPRENEUR
definiton
includes patents, trademarks, copyrights, and trade secrets.
important assets to the entrepreneur
how to select a lawyer
aware of any regulations that may effect a venture.
hired for a one-time fee
good working relationship with a lawyer
entrepreneur can offer the lawyer stock in exchange for service
patents
grants holder protection from others making, using, or selling similar idea
international patents
the provisional application
the patent application
patent infringement
trademarks
registering the trademark
copyrights
right given to prevent others from printing, copyright or publishing any original works of authorship
led to major legal battles for the entertainment industry
trade secrets
provides protection against others revealing or disclosing information that could be damaging to business
licensing
a contractual agreement giving rights to others to use intellectual property in return for a royalty fee.
types of licensing
patent license aggrements
trademark license aggrement
copyright license aggrement
factors to be considered
customers' recognition of licensed property
entrepreneur's experience with the licensed property.
long-term outlook for the licensed property
renewal options
product safety and liability
the art created a commission with the responsibilityof prescribing safety standards.
the development of stricter regulations regarding labeling and advertising is also part of the commission's responsibility
insurance
it improves a means of managing risk in the new business
some insurances are required by law and cannot be avoided while others are may be necessary to protect the financial net worth of the venture.
can costs have a significant impact on insurance premiums