4Entrepreneur and Intrapreneur Entrepreneur: A person who organizes and manages a business undertaking, assuming the risk for the sake of the profit.Intrapreneur: A person in a corporation who is given the freedom and resources to initiate products, business ventures, etc.
5Invention and Innovation Invention: A new device, method, or process developed from study and experimentation. Innovation: An improvement of an existing technological product, system, or method of doing something.
6Design and Development Intellectual Property Presentation NameEngineering Design and DevelopmentLesson #.# Lesson NameDesign and Development Intellectual PropertyIntellectual PropertyPatentsUtility PatentsNot ObviousNovelUsefulDesign PatentsOrnamental DesignPlant PatentsNew PlantTrademarksColorSymbolWordCopyrightOriginal Work of ExpressionTrade SecretsProprietary and UsefulThe Intellectual Property chart was reproduced from Ulrich, K.T. & Eppinger, S.D. (2008). Product design and development. New York, NY: McGraw Hill.Requires Formal ApplicationRequires Formal ApplicationNot Registered
7Intellectual Property Engineering Design and DevelopmentLesson 1.1 Overview and ExpectationsPatentPatent: A grant made by a government that confers upon the creator of an invention the sole right to make, use, and sell that invention for a set period of time.A patent must beUsefulNovelNonobviousProvisional Patent: A less expensive and detailed application that allows one year’s protection to provide time to further investigate or pursue licensing before filing a regular patent application.Useful: The invention should be useful to someone in some context.Novel: The invention should not be known publicly, in existing products, publications, or prior patents, and should not have been revealed to the public more than a year before the patent is filed.Nonobvious: Would not be clearly evident to an individual with “ordinary skill” who faces the same problem as the person filing the patent application.
8Licensing and Royalties Licensing: The granting of permission to use intellectual property rights, such as trademarks, patents, or technology, under defined conditions. Royalties: A share of the proceeds or product paid to the owner of a right, as a patent, for permission to use it or operate under it.
10Business PlansIf you wish to start a business based upon an invention or innovation and need investors, you must create a business plan.Business Plan: A presentation that tells about your product, the market for it, and how you plan to use investment money.Many people create and sell their own product in a limited form to prove its worth in the marketplace before entering agreements or asking for investment.You may not need a business plan to sell a limited number of products, but you WILL if you are asking for money or resources.
11Intellectual Property Entrepreneur and IntrapreneurInvention and InnovationDesign and Development Intellectual PropertyPatentLicensing and RoyaltiesBusiness Plans