BLaw 210 1nd Edition Lecture 14 Outline of Last Lecture I Two definitions of property II Classification of property III Incidents of ownership IV Intangible personal property Outline of Current Lecture I Trade secrets II Patents III NUN IV V Trademarks Business use 4 marks to identify their products VI Copyrights VII Bailment VIII Elements of Bailment Current Lecture I II Trade secrets a Commercially valuable information i Are protected to encourage the growth of business by preventing employees and others from disclosing business owner s confidential information Patents a An invention is a new creation that is novel and useful Inventions are protected by patents b A patent is a statutory right granted by the government to inventors and is others deriving that right from the inventor for a fixed period of years to exclude others These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute from manufacturing using selling a potential product or from utilizing a patented method or process III IV V VI VII VIII NUN a Novel b Useful c Non obvious Trademarks a Protected by the law since they allow an owner of the trademark to identify a product or service and to distinguish it from imitations b This would benefit the owner of the trademark and the public Business use 4 marks to identify their products a Trademarks b Service marks c Collective marks d Certification marks Copyrights a Works created by authors and other artists protected by copyrights b A statutory right granted by the government to authors to exclude other persons from reproducing distributing or performing their works Bailment a A bailment is formed by the delivery of personal property without transfer of title by one person to another On completion of the purpose the Bailee is obligated to return the bailed property in the same or better condition to the bailer or to dispose of it as directed Element of Bailment a Personal property b Delivery of possessions without title c Agreement that the property will be returned to the bailor or otherwise disposed of according to its owners direction i Level of care