intellectual property. edwin land harvard dropout used to sneak into columbia u. to conduct research...
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Intellectual Property Intellectual Property
Edwin Land Harvard dropout used to sneak into
Columbia U. to conduct research 22 years old, obtained $375,000 from
investors to start Polaroid WWII, optic lens dried up and Polaroid near
bankruptcy 1948 – Polaroid unveiled first instant print
camera
Edwin Land
1980 – Polaroid a $1.4 billion business 1976 – Polaroid filed suit against Kodak over
patent infringement 1985 – after 9 years, Kodak found guilty of 7 of
10 patent infringements 1990 – Boston court ruled Kodak would have to
pay Polaroid $985 million Largest damage awarded in patent infringement
Edwin Land Patents important to Polaroid
Polaroid holds over 2,000 patents Land holds 537 US patents 2nd to Edison who holds 1,093 patents
Patents Patent is a contract between govt. & inventor
Inventor discloses the invention Govt. grants inventor exclusivity regarding the invention for a
specified period of time Utility Patent
Protection of new useful processes or products 17 yr. protection
Design Patent Reflects the appearance of the product 14 yr. protection
Patents Plant Patent Genomic / Genetics Process Business Method Industrial Design
Filing for Patent Disclosure document
Establish a date of conception for invention Patent application
Introduction Description of invention Claims
Vague to prevent others from getting around patent Specific to point out invention’s uniqueness &
advantages
Patent InfringementDoes Patent Exist? File for Patent
Will other expired patents work?
Develop product witholder design
Is Patent nearly expired?
Plan for introductionupon expiration
Develop new modified product
Can product be Modified to avoid
Infringement?
Seek License
yes
yes
no yes
yes
no
no
Trademarks A trademark is a word, symbol, or design that
identifies the source of goods or services Initial 20 year registration with indefinite renewal
every 20 years Categories
Coined marks (polaroid) Abitrary mark (shell) Suggestive mark (Halo Shampoo) Descriptive mark (Rubberoid)
Benefits of Trademark Provides notice of exclusive use of mark Entitles one to sue over trademark infringement Establishes the rights concerning use of mark Prevent importation of goods with similar mark Basis for trademark application in foreign
countries
Registering Trademark Complete written application form A drawing of the mark Five specimens showing actual use of mark Pay the fee
Trademark Official Gazette publishes mark to allow a party 30 days to contest
Copyrights Copyright protects original works of
authorship Registered with Library of Congress Individual
Life of the author + 50 years Institutional
75 year protection
Trade Secrets No federal registration / guarantee Train employees to refer sensitive questions to
individual Provide escorts for all office visitors Avoid discussing business in public Keep important travel plans secret Employees sign non-disclosure agreements Avoid faxing sensitive information Mark documents confidential when necessary
Licensing Licensing may be defined as the arrangement
between two parties where one party has proprietary rights over a patent, trademark, or copyright
Patent license specifies how licensee will have access to patent
Trademark license usually involves a franchise agreement
Teenage Mutant Ninja Turtles accounted for over $2 billion in licensing
Intellectual Property
Most Common Question with Intellectual Property:
Who Owns It?
Intellectual Property Employment Contract
IP Clause Non-disclosure Clause Non-compete Clause
IP Clauses Used to determine the ownership rights of a
new product, idea, or process that is developed while in an employment relationship
Default in SD: owner has right to manufacture new item for self but not to distribute commercially
IP Clause Consult your employment constract If no IP clause, then it is most likely your IP If IP clause, then you have to look at
development Engineering notebook can give evidence of
origin of the idea and the resources that went into it
Non-disclosure Clause Terms within the contract that limits the
communications about specific products, ideas, or processes
Generally binding on both parties Used to protect IP from premature
disclosure in the marketplace
Non-compete clause Terms refraining an individual from
engaging in similar business within x miles for y number of years
Purpose is to prevent people from leaving a business and taking all clients with them or from engaging in a similar product venture
Product Safety / Liability Consumer Product Safety Act (1972)
5 member commission that has power to prescribe safety standards for more than 10,000 products
Product Liability Claims Negligence
Deficient labels, false advertising, . . . Warranty
Product does not perform as claimed Strict Liability
Product was defective prior to receipt Misrepresentation
Misrepresentation of material facts concerning quality