a work or invention that is the result of creativity Intellectual Property intellectual property patent a grant by the government permitting the inventor exclusive use of an invention for 20 years from the date of filing or 14 years from the date of issuance in the case of design patents three types mechanical invention electrical chemical process machine composition of matter available to those who invent any of the following only available for a tangible application not an idea protects the appearance not the function of an item last 14 years from the date of issuance to receive a patent the invention must be anyone who creates a new type of plant that is able to reproduce it asexually cannot patent it if it has already been 1 patented 2 described in a printable publication 3 in public use 4 on sale 5 otherwise available to the public anywhere in the world cannot be obvious to an ordinary person application and issuance invention must be useful the first person to file a patent application has priority an inventor must apply for a patent within one year of selling the product commercially Patent Prosecution Highway once a product is approved by one country it goes for patent examination in front of the other country the holder of a copyright owns the particular tangible expression of an idea but not the underlying idea or method of operation a work is copyrighted automatically once it is in tangible form copyrights last 70 years after the creator dies OR for a corporation 95 years after publication or 120 years after creation First Sale Doctrine a person who owns a lawfully made copy of a copyrighted work to sell or otherwise dispose of the copy Fair Use Doctrine permits limited use of copyrighted material without permission of the author for purposes such as criticism comment news reporting scholarship or research Ex quoting a book without the author s permission any combination of words and symbols that a business uses to identify its products or services and distinguish them from others types of trademarks copyright trademark affixed to goods in interstate commerce used to identify services not products trademarks service marks certification marks collective marks trade dress trade secret used to identify members of an organization the image and overall appearance of a business or product size shape color texture a secret device or technique used when a company manufactures its product words or symbols used by a person or organization to attest that products and services produced by others meet certain standards both parties make a promise one party makes a promise that the other party can accept only by actually doing something a contract when it has been made BUT one or more parties have not yet fulfilled their obligations valid unenforceable voidable void agreement a contract when all parties have fulfilled their obligations one that satisfies all of the law s requirements occurs when the parties intend to form a valid bargain but a court declares that some rule of law prevents enforcing it an agreement that may be terminated by one of the parties a contract that neither party can enforce because the bargain is illegal or one of the parties had no legal authority to make it an agreement with all the important terms explicitly stated most contracts are express contracts the words and conduct of the parties indicate that they intended an agreement a possible remedy for an injured plaintiff in a case with no valid contract where the plaintiff can show a promise reasonable reliance and injustice a possible remedy for an injured plaintiff in a case with no valid contract where the plaintiff can show benefit to the defendant reasonable expectation of payment and unjust enrichment Uniform Commercial Code anything movable EXCEPT for money securities and certain legal rights utility patent design patent plant patent novel nonobvious useful Contract Law Formation basics bilateral unilateral contracts Bilateral Unilateral executory executed contract Executory Contract Executed Contract Valid Contract Unenforceable Contract Voidable Contract Void Agreement express implied contracts Express Contract Implied Contract promissory estoppel quasi contract UCC goods merchant offer an act or statement that proposes definite terms and permits the other party to create a contract by accepting those terms when the offerer takes the offer back before the offeree accepts when a party responds to an offer with a new and different proposal is a rejection you only have a reasonable time to accept the offer or else it is terminated firm offer see UCC 2 205 offer made by a merchant to purchase goods and offer can be revoked for up to 3 months an agreement between a buyer and seller that gives the purchaser of the option the right to buy or sell an asset at a later date at an agreed upon price revocation counteroffer option contract acceptance mirror image rule mailbox rule consideration the default rule under contract law for determining the time at which an offer is accepted states that an offer is considered accepted at the time that the acceptance is mailed the offeree must say or do something to accept an offer requires that acceptance be on precisely the same terms as the offer three rules each party must receive something there must be a promise each party must have bargained for something Contract Law Formation legality genuineness of assent writing covenant not to compete aka non compete clause or agreement an employee promises not to work for a competitor for some time after leaving their company NOT ENFORCEABLE IN CALIFORNIA a contract provision that attempts to release a party from liability in the event the other is injured a contract that a court refuses to enforce because of fundamental unfairness exculpatory clause unconscionable adhesion contract take it over leave it contract either you accept it and all the terms no negotiation lack of capacity minority age of majority defendants knew the statement was false the false statement was material the injured party relied on the statement if you are younger than 18 or mentally unstable then all contracts you enter are voidable misrepresentation aka innocent fraud or intentional fraud bilateral mistake unilateral occurs when both parties negotiate based on the same factual error occurs when only one party enters a contract under a mistaken assumption an improper threat made to force another party to enter into a contract mistake duress