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ladies and gentlemen hello to all I
Thanks for your comment Everette Bibee, have a nice day.
- Wava Stockett, Staff Member
hello everyone and welcome my name is tony ditzak and i'm the executive director of the luxembourg american chamber of commerce we are honored to co-host this event with amcham the american chamber of commerce in luxembourg um unfortunately our president michelle frank and paul schoenenberg are not here but we have the executive directors there so daniel is here and jane and janet my co-workers here with me we're excited this is an interesting topic it is really interesting to us because we had experience on ipe so stefan which we're really happy he will be talking and telling you what is into intellectual property okay so welcome a couple housekeeping please mute yourself as you know this is being recorded that then we could also utilize it on our website for people that are unable to attend here today and i think let's introduce stefan soyanov if i say that correctly so stefan first of all thank you for doing this for lacc and am gem we really appreciate your expertise and he does have lots of expertise he has 15 years in ip law litigation and disputes patent trademark copyright trade secrets license breaches contract disputes other commercial disputes business transaction emailing main startups ip strategy and monetization licensing technology transfers and ip portfolio also seven years of engineering which that is amazing you know and five years of software programming so that is you're talking about an amazing experience especially someone as a lawyer in the ip in this intellectual property all right so stefan we're looking forward to hearing from you and learning how not to make mistakes thank you tony uh thank you very much and thank you everyone for being here and thank you for giving me the opportunity to join you um how this all came about it's interesting because uh tony as she mentioned got a little bit of trouble the organization and through a friend of mine i learned about it and i tried to help a little bit and why we're doing this today why i'm here is because every business every one of you likely or client or somebody you're affiliated with will be accused of intellectual property infringement over the next several years that's a promise at the same time why we're here today is that every business has a substantial amount of intellectual property that they don't know about and identifying and finding out that ip can help the business a lot can help them succeed can increase the value of the business and i hope today with the limited time we have that i'll give you enough information to help you at least reduce the risk of doing something improper and being accused of infringing ip can't eliminate that risk unfortunately and at the same time uh provide you enough information to be able to start thinking at least about what intellectual property you may have that could help make your yourself or your clients or your business more successful and uh with that let's um start with what is intellectual property everybody has some preconceived notion of what it is but in a very broad sense the world intellectual property organization wipo says that intellectual property are creations of the mind it's intangible property that usually pre-seeds or is the foundation of the conventional one otherwise tangible property when you have a building or chair or a toaster or car there is a lot of creations of the mine a lot of intellectual process going on before that car came into existence and that intellectual property uh can be first in the marketing identification area meaning how do you identify yourself that you're a tesla car or an ev1 or your uh i forgot the ninja toasters that's branding that's intellectual property that's the look and feel of things how you make that the process during that you go through it takes a long long long long thought process of many engineers and and thinkers and business people to go through it and figure out how to make it how to sell it how to make profit from it how to make a particular currently i'm working with a nut brittle manufacturer the recipe for how to make cashew and walnut nut brittle and then you have the the end product not just how to make it in the process that you go through it but what it looks like how how it functions so this is all the processes that anyone goes through to get into the physical world is the creations of the mind intellectual property the value of it it comes from the exclusivity the owner of the intellectual property is the only one who is allowed under the law to use that intellectual property or allow someone else to use it there's no requirement that the owner uses the intellectual property but they're the only one that may do so and at the same time the owner may prevent others from infringing on it from taking it from stealing it from copying it and and prevent unfair competitions if you wish uh if we can move to the next slide why did i say that it i'm certain that almost everyone will receive uh you're infringing my intellectual property ladder in the near future if they haven't already and becomes more more likely as time goes by because the economy is transitioning to a lot more away from physical assets these numbers that i have on the screen they're somewhat old this from a presentation several years ago but you can see that the value of ip intangible asset in market value of the businesses the companies is exponentially growing over the 40 last 40 years has grown from under 15 to over 80 percent and just this is another thing annual private investment intellectual property exceeds 10 percent of 22 trillion dollars which is the us gdp for this year that's 2.2 trillion dollars this is more than that infrastructure build just passed which is 1.5 over 10 10 years so it's just something to think about how valuable it is and when money is involved people tend to try to extract it whether legitimately whether sometimes not so legitimate obviously for small business individuals we're not talking trillions we're talking ip your trademarks your patents your copyrighted materials even your trade secrets they have value they can attract investment they can help you obtain loans credit lines at the same time they can protect you when some somebody else starts competing in your field if they are infringing what you're doing if they're taking away your ideas you can protect yourself and it's a deterrent value too in the sense that if you advertise i have a patent i have a copyright on this i have a trademark a brand people are deterred especially the more legitimate companies are deterred from jumping in sometimes for moral sometimes for just purely uh fear out of pure fear that they'll get sued but ip has great value you can go the next slide please now what are the risks that get people in hot water and businesses with intellectual property and i have the little the golden rule don't deal on others that you don't want done to you what that means is if you have a picture if you have an invention and a patent if you've registered a logo you don't want people to start using it without at least without permission you may not necessarily want payment so the same
Thanks Jenell your participation is very much appreciated
- Wava Stockett
About the author
I've studied peace education at Kalamazoo College in Kalamazoo and I am an expert in composition studies. I usually feel frustrated. My previous job was landscape architect I held this position for 30 years, I love talking about vacation and fencing. Huge fan of Rick Ross I practice rhythmic and collect bobbleheads.