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ECU FINA 2244 - Chapter 9 Outline

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CHAPTER 9Intellectual PropertyI. Definition and Sources of Protection Pg. 220A. Definition: Property created my mental effort, intangible, ideas are propertyB. The Constitution: Article 1, section 8, congress promotes inventors the right to their discoveries, copyright and patentC. Common law suits for infringement: Wrongful, unauthorized use of intellectual property in violation of owners rights, seeking monetary damages equitable reliefII. Trademarks Pg. 221A. Definition: Commercial symbols that a manufactures prints on their goods so they can be identified, can be a design, logo, phrase, mark, or wordB. Traditional creation –priority of use: First person to use a symbol C. Federal law – the Lanham Act: Law of federal trademark protection, D. Five advantages of trademark registration: Nationwide notice of ownership, legal presumption that it is yours, federal court jurisdiction, basis for obtaining registration in other countries, prevents import of foreign goods.E. The registration process: Less than $500, submit a copy of the mark and description of goods using the mark, submit a statement the mark does not conflict with other marks and that is it true. Trademark Electronic Search System—TES. Good for 10 years until renewed F. Classifications of trademarks Pg. 2231. Arbitrary and fanciful: Not related to the product (Apple), Inherently distinctive2. Suggestive marks: Nature of the product (Chicken of the sea)3. Descriptive marks: Describes what the product is or does, must show customer recognition (Raison Brand)4. Generic marks: Common words (Thermos, Zipper, Asperin, Escalator) EX: Google G. Extent of trademark protection and potential claims Pg. 223-2241. Roll Tide/The Strange Case of Arrrgh. ECU trademarked Paint it Purple, 2. Infringement: Improperly misused the trademark3. Dilution: Blurred or tarnished the trademark4. Cybersquatting: Improperly used in the domain name5. Audi AG Pg. 225H. Trade dress Pg. 2281. Definition: The look and feel of a product, the color shape texture or graphics I. Counterfeiting: Somebody copying or imitating your product Pg. 227J. Goodwill Pg. 2291. Definition: Businesses reputation2. Importance as an asset: Gives value to your trademarks, if damaged your goodwill may be damagedIII. Copyright Pg. 230A. Definition: Rights of literary property as recognized by law, books, music, art, choreography, from the moment the book is printed or song is createdB. Copyright Act of 1976 Pg. 230-2311. Material protected: Gain protection2. Term of protection: Life of the author plus 70 years or 95 years of publication for a business. “Mickey Mouse Protection Act Extended” 3. Five exclusive rights to copyright owner: Reproction, publish and distribute, display in public, perform in public, prepare derivative works based on original work. 4. Moral right amendment: Rights to have proper attribution of authorship. Prevent changes of work 5. Requirement of originality: Otherwise must purchase copyrightC. Registration: Form from copyright office, 2 pieces of work, $35 fee, legal presumption, cannot mail it to yourself D. Infringement and fair use Pg. 231-2321. Definition of fair use: Use of somebody’s material for criticism, teaching, commentary, news reporting, scholarship, research 2. Four factors: Purpose and character of copying, nature, extent, and effect on public3. Latin American Music Co. Work must be registered by certificate, not of recordation Pg. 232IV. Patents Pg. 233A. Definitions: Grant from the government to the inventor to exclude others from making using or selling an invention for 20 years1. patent – three types2. utility: Industrial process, manufacturing, chemical, composition of matter3. design: New original design for manufacturing4. plant: Invent or discover a new type of plantB. Conditions for patent – two: Original and new, novelty C. Advantages and disadvantages of patents: Protecting rights and protection,20 years. Expensive, technical, time consuming, 50/50, public application,slower than before Pg. 234D. Reviewing patent cases1. Federal Circuit Court of Appeals: Can strike a patent 2. Bowman: Patent exhaustion, may use it or resell, cant use the patent to reproduce Pg. 235V. Trade Secrets Pg. 236A. Definition1. Restatement: Formula, pattern, or device used in business to obtain an advantage over competitors 2. Three factors in determining whether information is a trade secret: Known by competition, will the business lose the advantage if secret is out, has the owner taken the steps to hide the secret from disclosureB. Theft of trade secrets Pg. 2361. Remedy: Damages and injunction against further use or dissemination, employees may steal2. Bohnsack Pg. 237C. The Economic Espionage Act of 1996: 10 years in prison or $10 million fine Pg. 237-2381. Coke vs. Pepsi2. Yang: Women tried to sell out the secret formula. Pg.


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