1. Intellectual Property

2. Intellectual Property
Entrepreneur and Intrapreneur
Invention and Innovation
Design and Development Intellectual Property
Patent
Licensing and Royalties
Business Plans

3. Intellectual Property
Something produced by the mind, of which the ownership or right to use may be legally protected.
©iStockphoto.com

4. Entrepreneur 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.

5. Invention 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.

6. Design and Development Intellectual Property
Presentation Name
Engineering Design and Development
Lesson #.# Lesson Name
Design and Development Intellectual Property
Intellectual Property
Patents
Utility Patents
Not Obvious
Novel
Useful
Design Patents
Ornamental Design
Plant Patents
New Plant
Trademarks
Color
Symbol
Word
Copyright
Original Work of Expression
Trade Secrets
Proprietary and Useful
The Intellectual Property chart was reproduced from Ulrich, K.T. & Eppinger, S.D. (2008). Product design and development. New York, NY: McGraw Hill.
Requires Formal Application
Requires Formal Application
Not Registered

7. Intellectual Property
Engineering Design and Development
Lesson 1.1 Overview and Expectations
Patent
Patent: 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 be
Useful
Novel
Nonobvious
Provisional 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.

8. Licensing 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.

9. Intellectual Property
Copyright ©: Exclusive legal right to reproduce, publish, sell, or distribute the matter and form of something (as a literary, musical, or artistic work).
Trademark: A symbol, design, word, letter, etc. used by a manufacturer or dealer to distinguish a product or products from those of competitors.
The ™ symbol indicates that the trademark has not been federally registered. After federal registration the ® symbol is used.
Trade Secret: Something (as a formula) which has economic value to a business because it is not generally known or easily discoverable by observation and for which efforts have been made to maintain secrecy.

10. Business Plans
If 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.

11. Intellectual Property
Entrepreneur and Intrapreneur
Invention and Innovation
Design and Development Intellectual Property
Patent
Licensing and Royalties
Business Plans

12. Image Resources
iStockphoto. Retrieved from