Monday, August 19, 2019
Intellectual Property Essay -- Intellectual Property Essays
Intellectual property are the legal rights (control and ownership) of creations, such as ideas; inventions; designs, etc. for the use in commerce (Bainbridge, 2012). Intellectual law in countries seeks to deter individuals or organizations from copying or capitalizing upon anotherÃ¢â¬â¢s work. The main areas protected by protect intellectual property law include: patent, copyright, trademark, and trade secret. Intellectual Property can be categorized under the following: Monopoly Right to prevent copying De Facto Monopoly Contractual Patents Unregistered Trade Marks Trade Secrets Confidential Information Registered Trade Marks Unregistered Designs Know-How Registered Design Copyright This essay focuses on Patents, Registered Designs, Unregistered Design Right and trademarks. A patent is needed to increase innovation and competition. It is an issued document which is applied for and is granted by a governing body that states that an invention which is patented is legally bound to its owner for exploitation i.e. manufacturing, use, sales and imports. A patent is generally issues for 20 years and their costs generally depend on the stage of the application process. In the UK, the total cost of a patent could be estimated at Ã £5000 over 5 years. International patents (PCT) on the other hand could total Ã £7000 over 2.5 years. This is because within the UK, the examination of patentability stage is generally cheaper (Ã £1500) compared to the International equivalent (Ã £300) but most importantly the closing process in the International patent application could be in a range of Ã £0 Ã¢â¬â Ã £30,000, whilst the UK patent end stage is approximately Ã £100 (HGF, 2014). Patents could give the product or idea not only a competitive a... ...ion of Time Warner Price paid: $147 billion, of which $128 billion was for IP (87%) Examples of the value of patents include: Ã¢â¬ ¢ Nortel, a former Canadian telecommunications company, had a patent portfolio of over 6000 patents. Notable companies like Google bidding; later sold to other notable companies including Apple, Microsoft, RIM, EMC, Ericsson and Sony for $4.5Bn. REFERENCES Bainbridge, D. (2012). Intellectual Property. Pearson; 9 edition. Department for Business, Innovation & Skills, Intellectual Property Office, (No date). Designs: How to Protect your Design. London: HMSO Department for Business, Innovation & Skills, Intellectual Property Office, (No date). Trade Marks: Quick Facts. London: HMSO Harrison Goddard Foote LLP, (2014). Intellectual property workshop World Intellectual Property Organization, Intellectual Property Handbook, (2008).