BLaw 210 1nd Edition Lecture 14 Outline of Last Lecture I. Two definitions of propertyII. Classification of propertyIII. Incidents of ownershipIV. Intangible personal propertyOutline of Current Lecture I. Trade secretsII. PatentsIII. NUNIV. TrademarksV. Business use 4 marks to identify their productsVI. CopyrightsVII. BailmentVIII. Elements of BailmentCurrent LectureI. Trade secretsa. Commercially valuable informationi. Are protected to encourage the growth of business by preventing employees and others from disclosing business owner’s confidential informationII. Patentsa. 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 othersderiving 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 processIII. NUNa. Novelb. Usefulc. Non-obviousIV. Trademarksa. 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. V. Business use 4 marks to identify their productsa. Trademarksb. Service marksc. Collective marksd. Certification marksVI. Copyrightsa. Works created by authors and other artists protected by copyrightsb. A statutory right granted by the government to authors to exclude other persons from reproducing, distributing, or performing their worksVII. Bailmenta. A bailment is formed by the delivery of personal property without transfer of titleby 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 VIII. Element of Bailmenta. Personal propertyb. Delivery of possessions (without title)c. Agreement that the property will be returned to the bailor or otherwise disposedof according to its owners direction i. Level of