TAMU MGMT 209 Hailey Chapter 8 Intellectual Property Rights || with 100% Error-free Solutions.
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intellectual property rights correct answers the work of the human mind which consists of the products that result from intellectual and creative processes
-US Constitution, Article 1, Section 8 gives congress this power
1) trademarks
2) trade secrets
3) copyrights
4) patents
licensing ...
TAMU MGMT 209 Hailey Chapter 8 Intellectual Property
Rights || with 100% Error-free Solutions.
intellectual property rights correct answers the work of the human mind which consists of the
products that result from intellectual and creative processes
-US Constitution, Article 1, Section 8 gives congress this power
licensing agreements correct answers to avoid a lawsuit for infringement on an intellectual
property a user of another's property can enter into a contract to receive rights to use the property
and in exchange pay a *royalty*
patent correct answers a grant from the government that gives an inventor exclusive rights to an
invention
first to file has right to ownership:
invention- 20 y from date of file
design- 14 " " " " "
Pro/Con:
-20 y right to exclude others (relatively short)
-expensive ($5,000-$100,000+)
copyright correct answers the right of an author or originator of a literary or artistic work, or
other production that falls w/in a specified category, to have the exclusive use of that work for a
given period of time
trademark correct answers any distinctive word, name, symbol, or device (image or appearance),
or combination thereof , that an entity uses to distinguish its goods or services from those of
others. the owner has the exclusive right to use that mark or trade dress
Pro/Con:
-inexpensive
-longest lasting
, trade secret correct answers any information that a business possesses and that gives the business
an advantage over competitors (including formulas, lists, patterns, plans, processes and
programs)
-extends both to ideas and their expression
-no registration or filing requiremnets
Pro/Con:
-can be longest lived form of IP- as long as the secret
-can be inexpensive or expensive
-doesn't always work
statutory protection of trademarks correct answers trademark infringement
-can sue across business lines, not just competitors
-The Lanham Trademark Act of 1946
-Federal Trademark Dilution Act of 1995
trademark registration correct answers trademarks may be registered with the state or federal
government
a trademark can be registered if:
1) it is currently in commerce or
2) the applicant intends to put it into commerce w/in 6 months
-have to look for any similarities across all areas
-fed > state
trademark infringement correct answers whenever a trademark is copied to a substantial degree
or used in its entirety by another, intentionally or unintentionally
distinctiveness of mark correct answers a trademark must be sufficiently distinctive to enable
consumers to identify the manufacturer of the goods easily and to distinguish between those
goods and competing products
strong marks correct answers 1) fanciful trademarks
2) arbitrary trademarks
3) suggestive trademarks
fanciful trademarks correct answers include invented words
-sometimes replaces the word
EX: "Google it", "Xerox this paper"
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