May 14-2-15-ip-portfolio-final

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  • 1. Top Ten Things You Should Know  About Intellectual Property Rights and Strategy 10. “Intellectual Property” or “IP” refers to a set of legal rights that protect “creations of the  mind.” 9. There are four main types of IP:  patents, trademarks, copyrights and trade secrets.  IP can  be bought, sold, and licensed. 8. Patents and trade secrets are opposites.  Patents are given in exchange for sharing  information with the world; trade secrets are only as good as the secrecy in which they are  shrouded. 7. There are three types of patents:  utility (covering functionality); design (covering the look)  and plant. 6. Trademarks are generally used for brands and tag lines.
  • 2. Top Ten Things You Should Know  About Intellectual Property Rights and Strategy cont.… 5. To have full rights in patents, trademarks, and copyrights, there are affirmative application steps.   Application is made to the US Patent and Trademark Office or the US Copyright Office. 4. To have full rights on trade secrets, measures must be taken to ensure secrecy, including:  telling  employees of the trade secret nature of the information, limiting access to the trade secret  information, and, if possible, marking materials “Trade Secret.” 3. There is not a “one size fits all” strategy for protection of intellectual property.  Instead, view  each innovation/product independently to determination the best IP strategy in the context of  your industry. 2. IP strategies include all facets of intellectual property.  To have a full range of options,  CONFIDENTIALITY must be maintained. 1. Carefully and thoughtfully executed IP strategies require early engagement!