c7 intellectual property management in innovation

Question 1

refers to creations of the mind, such as inventions, artistic works, designs,
names, and symbols used in commerce.

Answer 1

intellectual property

Question 2

gives the creator exclusive rights to use and benefit from their creations for a certain period

Answer 2

intellectual property

Question 3

Protect inventions or processes that offer a new way of doing something or solve a specific problem.

Answer 3

patents

Question 4

duration of patents

Answer 4

typically 20 yrs

Question 5

examples of patents

Answer 5

Pharmaceutical drugs, machinery, software algorithms.

Question 6

Protect logos, names, symbols, or designs that distinguish products or services.

Answer 6

trademarks

Question 7

examples of trademarks

Answer 7

Nike swoosh, Coca-Cola logo.

Question 8

Protect original artistic and literary works, including books, music, films, and software.

Answer 8

copyrights

Question 9

duration of copyrights

Answer 9

life of the author plus 50-70 years

Question 10

examples of copyright

Answer 10

novel, song, video game

Question 11

protect the aesthetic aspect of an object, such as its shape, pattern, or color

Answer 11

industrial designs

Question 12

duration of industrial designs

Answer 12

typically 10-15 years

Question 13

Protect confidential business information that provides a competitive advantage.

Answer 13

trade secrets

Question 14

The process of identifying, protecting, and leveraging intellectual property to maximize its value for innovation and business growth.

Answer 14

IP management

Question 15

key steps in management

Answer 15

identification
protection
enforcement
commercialization

Question 16

Determine what aspects of the innovation can be protected as IP.

Answer 16

identification

Question 17

role in the innovation process

Answer 17

idea stage
development stage
market launch

Question 18

stage wherein identify potential IP from the start

Answer 18

idea stage

Question 19

secuire IP rights before sharing with partners or stakeholders

Answer 19

development stage

Question 20

use IP as a competitive advantage to protect the innovation

Answer 20

market launch

Question 21

o Align IP protection with business goals.
o Prioritize protecting critical aspects of the innovation.

Answer 21

develop an ip strat

Question 22

o Identify existing IP assets.
o Ensure compliance with IP laws and renew protections as needed.

Answer 22

conduct regular IP audits

Question 23

o Stay updated on industry trends to identify potential infringements.

Answer 23

monitor competitors and the market

Question 24

o License IP to other businesses for additional revenue streams.
o Collaborate with partners to co-develop and share IP.

Answer 24

use licensing and collaboration

Question 25

o Ensure employees understand the importance of IP and their role in protecting it.

Answer 25

educate teams about IP

Question 26

challenges in IP management

Answer 26

cost of protection global IP enforcement infringement risks mismanagements of IP assets

Question 27

filing and maintaining patents, trademarks, or copyrights can be expensive

Answer 27

cost of protection

Question 28

o Laws and regulations vary across countries, making enforcement complex.

Answer 28

global IP enforcement

Question 29

o Competitors or third parties may attempt to replicate or steal innovations.

Answer 29

Infringement risks

Question 30

o Failure to identify or protect IP can result in lost opportunities or disputes.

Answer 30

mismanagement of IP assets

Question 31

(case study) Leveraged patents to protect groundbreaking technologies in smartphones and computers.

Answer 31

apple inc

Question 32

(case study) Invested heavily in protecting vacuum cleaner innovations, ensuring dominance in the market.

Answer 32

dyson

Question 33

(case study) Maintains trade secrets to safeguard its iconic beverage formula.

Answer 33

coca-cola

Question 34

critical for safeguarding innovations and maximizing their value.

Answer 34

intellectual property management

Question 35

fosters creativity, secures competitive advantages, and drives economic growth.

Answer 35

effective ip management

Question 36

must stay informed about IP laws and adopt proactive strategies to protect and leverage their intellectual assets.

Answer 36

innovators and businesses