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Intellectual Property. Edwin Land Harvard dropout used to sneak into Columbia U. to conduct research 22 years old, obtained $375,000 from investors to.

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Presentation on theme: "Intellectual Property. Edwin Land Harvard dropout used to sneak into Columbia U. to conduct research 22 years old, obtained $375,000 from investors to."— Presentation transcript:

1 Intellectual Property

2 Edwin Land Harvard dropout used to sneak into Columbia U. to conduct research 22 years old, obtained $375,000 from investors to start Polaroid WWII, optic lens dried up and Polaroid near bankruptcy 1948 – Polaroid unveiled first instant print camera

3 Edwin Land 1980 – Polaroid a $1.4 billion business 1976 – Polaroid filed suit against Kodak over patent infringement 1985 – after 9 years, Kodak found guilty of 7 of 10 patent infringements 1990 – Boston court ruled Kodak would have to pay Polaroid $985 million Largest damage awarded in patent infringement

4 Edwin Land Patents important to Polaroid Polaroid holds over 2,000 patents Land holds 537 US patents 2 nd to Edison who holds 1,093 patents

5 Patents Patent is a contract between govt. & inventor Inventor discloses the invention Govt. grants inventor exclusivity regarding the invention for a specified period of time Utility Patent Protection of new useful processes or products 17 yr. protection Design Patent Reflects the appearance of the product 14 yr. protection

6 Patents Plant Patent Genomic / Genetics Process Business Method Industrial Design

7 Filing for Patent Disclosure document Establish a date of conception for invention Patent application Introduction Description of invention Claims Vague to prevent others from getting around patent Specific to point out invention’s uniqueness & advantages

8 Patent Infringement Does Patent Exist? File for Patent Will other expired patents work? Develop product with older design Is Patent nearly expired? Plan for introduction upon expiration Develop new modified product Can product be Modified to avoid Infringement? Seek License yes no yes no

9 Trademarks A trademark is a word, symbol, or design that identifies the source of goods or services Initial 20 year registration with indefinite renewal every 20 years Categories Coined marks (polaroid) Abitrary mark (shell) Suggestive mark (Halo Shampoo) Descriptive mark (Rubberoid)

10 Benefits of Trademark Provides notice of exclusive use of mark Entitles one to sue over trademark infringement Establishes the rights concerning use of mark Prevent importation of goods with similar mark Basis for trademark application in foreign countries

11 Registering Trademark Complete written application form A drawing of the mark Five specimens showing actual use of mark Pay the fee Trademark Official Gazette publishes mark to allow a party 30 days to contest

12 Copyrights Copyright protects original works of authorship Registered with Library of Congress Individual Life of the author + 50 years Institutional 75 year protection

13 Trade Secrets No federal registration / guarantee Train employees to refer sensitive questions to individual Provide escorts for all office visitors Avoid discussing business in public Keep important travel plans secret Employees sign non-disclosure agreements Avoid faxing sensitive information Mark documents confidential when necessary

14 Licensing Licensing may be defined as the arrangement between two parties where one party has proprietary rights over a patent, trademark, or copyright Patent license specifies how licensee will have access to patent Trademark license usually involves a franchise agreement Teenage Mutant Ninja Turtles accounted for over $2 billion in licensing

15 Intellectual Property Most Common Question with Intellectual Property: Who Owns It?

16 Intellectual Property Employment Contract IP Clause Non-disclosure Clause Non-compete Clause

17 IP Clauses Used to determine the ownership rights of a new product, idea, or process that is developed while in an employment relationship Default in SD: owner has right to manufacture new item for self but not to distribute commercially

18 IP Clause Consult your employment constract If no IP clause, then it is most likely your IP If IP clause, then you have to look at development Engineering notebook can give evidence of origin of the idea and the resources that went into it

19 Non-disclosure Clause Terms within the contract that limits the communications about specific products, ideas, or processes Generally binding on both parties Used to protect IP from premature disclosure in the marketplace

20 Non-compete clause Terms refraining an individual from engaging in similar business within x miles for y number of years Purpose is to prevent people from leaving a business and taking all clients with them or from engaging in a similar product venture

21 Product Safety / Liability Consumer Product Safety Act (1972) 5 member commission that has power to prescribe safety standards for more than 10,000 products

22 Product Liability Claims Negligence Deficient labels, false advertising,... Warranty Product does not perform as claimed Strict Liability Product was defective prior to receipt Misrepresentation Misrepresentation of material facts concerning quality

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