This document discusses different forms of intellectual property protection including patents, trademarks, and copyrights. It provides information on the steps to obtain a patent, the benefits of patents such as exclusivity and revenue from licensing, and examples of patentable inventions. Trademarks protect names and logos to identify business sources, while copyright protects original creative works. The key benefits of registration for these forms of intellectual property are also outlined.

1. The Concept of
Entrepreneurship(Inside the
Entrepreneurial Mind)
Lecture-5

2. Objectives
• Patents
• Steps to Patent
• Benefits of Obtaining Patents
• Trademarks
• Copyrights
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3. outcome
• Ability to comprehend the importance of
intellectual property through patents,
trademarks and copyrights

5. Intellectual property: protecting your
ideas
• Protect the innovative idea from unauthorized
use as it has market potential

6. • All the time, effort, and money people invest
in perfecting a product, as well as advertising
and promoting it, may be wasted if imitators
can enter the market easily.
• Moreover, the imitators can cut prices,
because they have not incurred the startup
expenses the company had.
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7. Patents
• a government authority or licence conferring a
right or title for a set period, especially the sole
right to exclude others from making, using, or
selling an invention.
• US patent& trademark office gives license to the
inventor of a product, giving the exclusive right to
make, use or sell the invention in the country for
20 years from the date of filling the patent
application
• 20 years of monopoly stimulates creativity &
innovation

8. Patents
• No rule that patents cover only remarkable
inventions.
• the idea needs to be different in some way
from what came before.
• Idea needs to be Novel and not Obvious
• Example:
• Single blade screw driver
• Double blade Philips Screw Driver

9. The Steps to a Patent
Establish the invention’s novelty
Document the device
Search existing patents
Submit the patent application
Prosecute the patent application
Study search results

10. Cases in which Patent will not be
Granted
• For an invention, the commercial exploitation
of which would be injurious to public order,
morality, environment or the protection of
human, animal and plant life.
• For plants and animals other than micro-
organisms
• For biological processes for the production of
plants and animals.

11. Cases in which Patent will not be
Granted
• For diagnostic, therapeutic and surgical
methods for the treatment of humans and
animals.
• For a new and consequent use of a known
product or process.
• For a change in the physical appearance of a
chemical product where the chemical formula
or process of manufacture remains the same.
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12. Example
• Apple- Automatic software update
• The Volkswagen Beetle Design Patent

13. Benefits of Obtaining Patent
• A patent gives the inventor the right to stop
others from manufacturing, copying, selling or
importing the patented goods without
permission of the patent holder.
• The patent holder has exclusive commercial rights
to use the invention.
• The patent holder can utilize the invention for
his/her own purpose.
• The patent holder can license the patent to
others for use. Licensing provides revenue to
business by collecting royalties from the users.
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14. Trademark
Trademark – any distinctive word, symbol, design,
name, logo, slogan, or trade dress a company
uses to identify the origin of a product or to
distinguish it from other goods on the market.
• Trademarks do not protect products and services
but the names of product
• Service mark is a legally registered name or
designation used in the manner of a trademark to
distinguish an organization's services from those
of its competitors.

17. Benefits of Trade Mark Registration
Entrepreneur can
• Use registered trade mark as a brand name for the goods
and services specified in the registration
• Authorize other people to use registered trade mark for
the goods and services specified in the registration
• have a registered trade mark that is personal property and
can be sold
• may give the a notice objecting to the importation of
goods that infringe your registered trade mark
• can be in a stronger position to stop other people from
using your trade mark as their brand name.
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18. 18
Copyright
• Copyright – an exclusive right that protects the creators
of original works of authorship.
• works covered by the copyright include, but are not
limited to, novels, poems, plays, reference work,
newspapers, computer programs, databases, films,
musical compositions, choreography, paintings,
drawings, photographs, sculpture, architecture,
advertisements, maps, and technical drawings.
• Copyrighted material is denoted by the symbol ©.

19. Benefits of Copyright Registration
• Sell the copyright
• License your copyright for use by others but
retain the ownership.
• Object if your work is distorted or mutilated.

20. Difference between patents &
copyrights
• Copyrights protect the expression of ideas.
Artistic works are generally considered to be
expressions of ideas – books, paintings, songs,
movies, and computer programs are
examples.
• A patent is a right, granted by the
government, to exclude others from making,
using, or selling your invention.