Module 5 Flashcards
(25 cards)
Why is legal protection of ideas important?
[Law] promotes innovation by giving creators the [right] to benefit financially from their ideas while preventing monopolies.
How can businesses monetize ideas?
Through [licensing], [selling IP], or [using IP to make profits], ensuring investors are confident in their protection.
What are the types of IP protection processes?
[Creation], [mandatory registration], [strategic registration], and [confidentiality] via [NDAs] or [trade secrets].
What are the main types of IP?
[Copyright], [trademarks], [patents], [industrial designs], [trade secrets], and data-related [privacy].
What is copyright and what does it protect?
A [monopoly] over the use of a [creative work] (not the idea), such as books, music, films, etc.
How is copyright created?
[Automatically] upon creation, without need for registration or publication. Follows [international treaties].
How long does copyright last?
For the [life of the author + 70 years]; then the work enters the [public domain].
What are moral rights?
The [creator’s right] to prevent distortion or harm to their work, unless [waived].
What is fair dealing/fair use?
[Limited exceptions] for private study, research, criticism, or education.
What is a trademark?
A [name], [symbol], or [logo] that distinguishes a product or service from competitors (e.g. Apple logo).
How long does trademark protection last?
[10 years] per registration, [renewable] indefinitely, but must be [used].
What is passing off?
A form of [trademark infringement] when someone misrepresents their goods as yours.
What is a trademark bully?
A [large company] threatening smaller ones over trademarks to avoid legal battles, risking [reputational harm].
What is a patent?
A [government-granted monopoly] to profit from a [specific invention] for [20 years].
What can be patented?
An [invention] that is [new], [non-obvious], [useful], and meets [patentable subject matter] criteria.
What are the 4 patent criteria?
[Subject matter], [novelty], [non-obviousness], and [utility].
What is the patent registration rule?
[First to file] is protected, not the first to invent.
What is patent infringement?
Using or [benefiting from] a patented product without permission, even unintentionally.
What remedies are available for IP infringement?
[Injunction], [seizure], [accounting], [damages], and [criminal penalties].
What is a trade secret?
A [confidential] method, formula, or device that gives a [competitive advantage], like KFC’s recipe.
How is confidentiality protected?
By [contracts] (NDAs) or [fiduciary duties]; breaches must involve [unauthorized use] of private info.
How is privacy treated under IP law?
[Data protection] is not traditional IP but is increasingly regulated (e.g. PIPEDA, Privacy Act).
How does tech affect IP?
New tech makes [copying] and [stealing IP] easier, requiring strong [risk management strategies].
What global risks affect IP protection?
Different [countries] have [different rules]; international protection is not automatic.
