What I have learned?
For the last two topics in the course of The Entrepreneurial Mind or GEE 16, I have learned that Intellectual property (IP) refers to mind innovations, such as inventions; works of literature and art; designs; and symbols, names, and pictures used in trade. In law, IP is covered by, for instance, patents, copyrights and trademarks that allow individuals to obtain recognition or financial profit from what they invent or make. The IP framework seeks to promote an atmosphere where creativity and innovation will thrive by finding the right balance between the needs of innovators and the broader public interest. There are many types of IP, and one of those were are the Patent, Trademarks, Copyright, Trade secrets, Geographical Indications, and Industrial designs.
A patent is an exclusive right granted for an invention. Generally speaking, a patent grants the owner of the patent the ability to determine how - or when - anyone will use the invention. In return for this right, the patent proprietor shall make publicly accessible, in the published patent application, technical details relating to the invention.
A trademark is a symbol that can differentiate between the products or services of one undertaking and those of other undertakings. Trademarks date back to ancient times when artisans used to place on their goods their signature or "mark".
Copyright is a legal term used to describe the rights of authors over their works of literature and art. Books, music, paintings, sculptures and films, computer programs, databases, advertising, maps and technical drawings vary from works protected by copyright.
IP rights on sensitive information which may be sold or licensed are trade secrets. Unauthorized possession, use or disclosure by others of such classified knowledge in a manner contrary to honest market practices is considered to be an unfair activity and a breach of the protection of trade secrets.
Geographical indications and appellations of origin are signs used in the case of products having a particular geographical origin and possessing attributes, reputations or features which are basically due to that place of origin. A geographical indication most generally involves the name of the place of origin of the products.
The ornamental or artistic feature of an article constitutes an industrial design. A design can consist of three-dimensional characteristics, such as an article's shape or surface, or two-dimensional characteristics, such as patterns, lines or colour.
In my understanding of Intellectual Property, when it comes to recognizing and defending intellectual property, businesses are vigilant because it holds such high importance in the increasingly knowledge-based economy of today. A significant duty for any business is to derive value from intellectual property and prevent others from deriving value from it. Intellectual property can take several forms, and while it is an intangible asset, it can be much more valuable than the physical assets of a business. Intellectual property can be a strategic advantage, and as a result, the businesses holding the property are fiercely guarded and secured.
For Intellectual Property Rights, these are the rights given to persons over the creations of their minds. They usually give the creator an exclusive right over the use of his/her creation for a certain period. Intellectual property rights are customarily divided into two main areas: Copyright and rights related to copyright and Industrial property.
Copyright is protected by the rights of writers of literary and artistic works such as books and other texts, musical compositions, drawings, sculptures, computer programs and films for a minimum period of 50 years after the author's death. The interests of performers such as actors, singers and musicians, creators of phonograms, sound recordings and broadcasting organizations are also protected by copyright and associated rights, often referred to as 'neighbouring' rights. Encouraging and rewarding artistic work is the primary social aim of preserving copyright and associated rights.
Industrial property can be divided into two and these are: First is the aim of protecting these distinctive signs is to promote and ensure fair competition and to protect customers by encouraging them to make informed choices between different products and services. The defence can last forever, provided that the sign at issue remains distinctive. Second, the social goal is to preserve the benefits of investment in new technology growth, while offering incentives and means to fund research and development activities. The operating intellectual property regime should also promote technology transfer in the form of foreign direct investment, joint ventures and licensing operations. In the case of patents, protection is usually granted for a limited duration, generally 20 years.
For this week's update on our start-up idea, we are preparing for our Pitching presentation. Our group divided some works like making the ppt and also the most difficult one was choosing who will be presenting. It was the most difficult and time-consuming because there are lots of considerations for each of the members, especially with the internet connection for not all of us have a strong internet connection. This will be our last activity in this course that's why we are doing our very best to pull this off.