Intellectual Property Issues
Danielle Spears, Mark Mitchell, Brittney Kulman, Robert Irsik,
Tayhler Davis, Thomas Evans
Learning Team B
MGT/401
12-7-2015
Geri Markley
Intellectual Property Issues
Owning a business can be a stressful yet very rewarding experience. What makes businesses unique and sets them apart can be based on its trade secrets or intellectual property. Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce. Intellectual Property is protected in law by, for example, patents, copyright and trademarks, which enable people to earn recognition or financial benefit from what they invent or create (What is Intellectual Property?). To protect such valuable rights, entrepreneurs must take extra precautions and pursue specific legal avenues to ensure that no misappropriation or copyright infringement occurs to damage the integrity of their business. In that regard, business owners must too, be responsible enough to uphold their standards of ethical conduct and respect for others as well.
How would you protect your intellectual property rights?
Defending your intellectual property is not a simple process. It is important to understand how your industry handles intellectual property when beginning the process. Even though it can take up to six years to obtain a patent is it important for a company to protect their intellectual property or it could be harder in the future. Companies must get legal protection through Copyright, Patents, and Trademarks. A Copyright is the exclusive legal right, given to an originator or an assignee to print, publish, perform, film, or record literary, artistic, or musical material, and to authorize others to do the same. A patent is a government authority or license conferring a right or title for a set period, especially the sole right to exclude others from making, using, or selling an invention....