W ELCOME Topic: Intellectual Property

D EFINITION Intellectual property includes ideas, discoveries, writings, works of art, software, collections and presentations of data. Copyright, trademarks and patents exist to protect intellectual property.

S OCIAL S IGNIFICANCE It is extremely important that you patent, copyright, or trademark your ideas no matter what, because if you create something and you do not protect it, your work will be free for the public to exploit. They will use your ideas for their own gain and they will have no reason to give you any kind of compensation for using your idea.

C OPYRIGHT Copyright is a legal term describing rights given to creators for their literary and artistic works. Copyright includes literary and artistic works such as novels, poems and plays, films, musical works, dance, artistic works such as drawings, paintings, photographs, sculptures, and architectural designs.

W HAT IS NOT COVERED BY COPYRIGHT ? Facts ideas recipes blank forms stock literary devices works lacking originality (e.g. the phone book) names, titles or short phrases works from the federal government

D URATION OF C OPYRIGHT C OPYRIGHT IN A LITERARY WORK, LASTS FOR THE :- Author’s lifetime plus 50 years from the end of The calendar year in which the author dies 50 years for films and sound recordings 25 years for typographical arrangements of a published edition

T RADEMARKS A Trademark is a distinctive sign or indicator used by an individual, business organization, or other legal entity to identify that the products or services to consumers with which the trademark appears originate from a unique source, and to distinguish its products or services from those of other entities.

W HAT ARE TRADE MARKS GOOD FOR ? Building block for brand image marketing tool enhance reputation customer loyalty basis for franchise agreement increase of enterprise value.

P ATENTS Which of the following gives an author or inventor the right to exclude others from “making, using, offering for sale, selling or importing” their work? It’s a Patent Copyright protects original authorship “including literary, dramatic, musical, artistic, and certain other intellectual works, both published and unpublished.” A Trademark is “a word, name, symbol or device which is used in trade with goods to indicate the source of the goods and to distinguish them from the goods of others.”

W HAT CANNOT BE PATENTED ? Things not invented by the applicant Works of authorship (copyrights) Tradenames, logos, slogans, titles Laws of nature Inventions which will not work perpetual motion machines weather machines

T RADE SECRETS Any inside information that helps the organization to function is known as a trade secret for example KFC may pass on it’s recipe to it’s next owner (if purchased) but the recipe wont be shared with it’s competitors.

B IBLIOGRAPHY