Week 7 (Chapter 12)

Question 1

Intellectual property

Answer 1

Any product of human intellect that is intangible but has value in the market place. It is the product of human imagination, creativity, and inventiveness. Knowledge, information, ideas that contribute to a firm’s competitive advantage. and thus potentially to their success.

Question 2

Patent

Answer 2

A grant from the federal government conferring the rights to exclude others from making, selling or using an invention for the term of the patent. The owner of patent is. granted a legal monopoly for a limited amount of time.

BUT, it gives the owner only. the right to exclude other from doing so.

Question 3

Types of patents

Answer 3

1. Utility patent
2. Business method patent
3. Design patent
4. Plant patent

Question 4

Utility patents

Answer 4

Can be granted to anywhere who invests or discovers any new and useful process, machine, manufacture, or composition of matter, or any new and useful improvement thereof.

• Expires after 20 years

Question 5

Business method patent

Answer 5

A patent that protects an invention that is, or facilitates a method of doing business

Question 6

Design patent

Answer 6

A patent that covers the invention of new, original, and ornamental designs for manufactured products.

• Expires after 14 years

Question 7

Plant patents

Answer 7

Protects new varieties of plants that can be reproduces asexually

• Expires after 20 years

Question 8

Patent infringement

Answer 8

Takes place when party engages in the unauthorized use of another party’s patent

Question 9

Trademarks

Answer 9

Any word, name, symbol, or device used to identify the source of origin of products or services and to distinguish those products or services from others.

Question 10

Types of trademarks

Answer 10

1. Service marks
2. Certification marks
3. Collective marks

Question 11

Service marks

Answer 11

Used for intangible service activities

Question 12

Certification marks

Answer 12

To communicate quality standards

Question 13

Collective marks

Answer 13

Used to identify associations, organizations.

Question 14

Trade dress

Answer 14

The manner in which a product is “dressed up” to appeal to customers is protectable. This category includes the overall packaging, design, and configuration of a product.

Question 15

Copyright

Answer 15

A form of IP protection that grants to the owner of a work of authorship the legal right to determine how the work is used and obtain the economic benefits from the work.

> > The work must be in a tangible form, such as a book, operating manual, magazine article, musical score, computer software program, or actual architectural drawing.

Question 16

Idea-expression dichotomy

Answer 16

An idea is not copyrightable, but the specific expression of an idea is.

Question 17

Copyright infringement

Answer 17

Occurs when one work derives from another, is an exact copy, or shows substantial similarity to the original work.

Question 18

Trade secrets

Answer 18

Any formula, pattern, physical device, idea, process or other information that provides the owner of the information with a competitive advantage in the marketplace.

Question 19

Three material conditions that must be met, when patenting products in the Netherlands (EU):

Answer 19

1. Novelty
2. Inventive step
3. Industrial application