Presentation on theme: "Intellectual Property Basics for Business Owners David M. Knasel, Esq. Dominion Business Law PLC Tysons Corner | Leesburg, VA www.dominionbusinesslaw.com."— Presentation transcript:
Intellectual Property Basics for Business Owners David M. Knasel, Esq. Dominion Business Law PLC Tysons Corner | Leesburg, VA www.dominionbusinesslaw.com Fall 2013
DISCLAIMER Information presented is for general informational purposes only. It is not legal advice and should not be relied upon. Every situation is unique. Consult with an attorney for any specific case.
INTELLECTUAL PROPERTY What is it? Intellectual property (IP) refers to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce. (WIPO website) Types of IP: Trademark Copyright Patent Trade Secret
TRADEMARK Definition – Any word, name, symbol or device used to identify and distinguish goods (services) and to indicate the source of the goods (services). How acquired – By using the mark in commerce in connection with goods or services. Duration – As long as mark continues to be used.
TRADEMARK EXAMPLES ExxonMobil™ Apple® Allstate® Insurance You’re in good hands with Allstate.
COPYRIGHT Definition – The exclusive right to reproduce, distribute, etc. a work of authorship. (e.g. a book or writing, visual artwork, movie, or musical piece or performance) How acquired – By fixing the work in a tangible medium of expression. Duration – Life of author, plus 70 years.
PATENT Definition – The right to exclude others from making, using, offering for sale, or selling an invention that is new, useful, and non-obvious. How acquired – By filing an application with the U.S. Patent and Trademark Office. Duration – 20 years.
TRADE SECRET Definition – Information that derives independent economic value from not being generally known and not being readily ascertainable and is the subject of reasonable efforts to maintain its secrecy. How acquired – By keeping it secret and deriving economic value. Duration – As long as it is kept secret.