1. Chapter 10 Intellectual Property Rights Twomey, Business Law and the Regulatory Environment (14th Ed.)

2. (c) 2000 West Legal Studies Chapter 102 Summary Comparison of Intellectual Property Rights [10-1] Type of Intellectual Property TrademarksCopyrightsPatentsTrade Secrets Protection Words, names, symbols, or devices used to identify a product or service Original creative works of authorship such as writings, movies, records, and computer software Utility, design, and plant patents Advantageous formulas, devices, or compilation of information Applicable Standard Identifies and distinguishes a product or service Original creative works in writing or in another format New and not obvious advances in the art Not readily ascertainable, not disclosed to the public Where to Apply Patent and Trademark Office Register of Copyrights Patent and Trademark Office No public registration necessary Duration Indefinite so long as it continues to be used Life of author plus 50 years from publication for “works for hire” Utility and plant patents 20 years from date of application; design patents 14 years Indefinite so long as secret is not disclosedto public

3. (c) 2000 West Legal Studies Chapter 103 Marks: Names, Symbols, and Designs [10-2] Trademarks identify products Service marks identify services Protection by registration grants registrant exclusive rights Mark distinguishes applicant’s goods or services from those of others Marks that are coined, completely fanciful, or arbitrary Kodak Suggestive terms Penguin refrigerators Acquired secondary meaning—surname, descriptive, or geographic Philadelphia cream cheese

4. (c) 2000 West Legal Studies Chapter 104 Remedies for Violation of Property Rights [10-3] Property negligently or willfully harmed, taken, or destroyed by the act of another Property taken under circumstances that constitute larceny When person taking property is innocent (unaware) wrongdoer Sue for damages for conversion Monetary damages Copyrights infringed Patents infringed Marks infringed Injunction ordering stoppage of such practices Recovery of profits if intentional infringement

5. (c) 2000 West Legal Studies Chapter 105 View Taken on Theft of Software [10-4] Program on paper, disk, or tape Petty larceny Traditional law Grand larceny New law of computers Theft of substance on which program is written Trade secrets protection statute Theft of valuable program itself In some states

6. (c) 2000 West Legal Studies Chapter 106 Chapter 10 Summary Property rights in trademarks, copyrights, and patents are acquired as provided primarily in federal statutes. A trademark or service mark is any word, symbol, design, or combination of these used to identify a product (in the case of a trademark) or a service (in the case of a service mark).

7. (c) 2000 West Legal Studies Chapter 107 Terms will fall into one of four categories: (1) generic, (2) descriptive, (3) suggestive, or (4) arbitrary or fanciful. Generic terms are never registrable. However, if a descriptive term has acquired a secondary meaning, it is registrable. Suggestive and arbitrary marks are registrable as well. If there is likelihood of confusion, a court will enjoin the second user from using a particular registered mark. Chapter 10 Summary [2]

8. (c) 2000 West Legal Studies Chapter 108 A copyright is the exclusive right given by federal statute to the creator of a literary or an artistic work to use, reproduce, or display the work for the life of the creator and 50 years after the creator’s death. Chapter 10 Summary [3]

9. (c) 2000 West Legal Studies Chapter 109 A patent gives the inventor the exclusive right for 20 years from the date of application to make, use, and sell an invention that is new and useful buy not obvious to those in the business to which the invention is related. Trade secrets that give an owner an advantage over competitors are protected under state law for an unlimited period so long as they are not made public. Chapter 10 Summary [4]

10. (c) 2000 West Legal Studies Chapter 1010 Protection of computer programs and the design of computer chips and mask works is commonly obtained, subject to certain limitations, by complying with federal statutes, using the law of trade secrets, and by requiring restrictive licensing agreements. Many software developers pursue all of these means to protect their proprietary interests in their programs. Chapter 10 Summary [5]