Intellectual property protection and innovation [New Info]

Last updated : Sept 7, 2022
Written by : Bettie Truby
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Intellectual property protection and innovation

What is innovation and intellectual property?

Innovation means doing something new that improves a product, process or service. Many innovations can be protected through intellectual property (IP) rights.

How is IPR used to protect innovation?

In research and innovation, the most used form of IPR are patents. To qualify for patent protection, an invention must be of some practical use and must offer something new which is not part of the existing body of knowledge in the relevant technical field (what lawyers call the prior art).

Why is IP important to innovation?

IP protection is critical to fostering innovation. A company that owns IP rights will have a higher competitive advantage and legal protection against counterfeiting. Such legal protection is critical, in particular, for those companies wishing to export to new markets.

What are 4 types of intellectual property protection?

Patents, trademarks, copyrights, and trade secrets are valuable assets of the company and understanding how they work and how they are created is critical to knowing how to protect them.

How can we protect innovation?

Innovation is intellectual property and can be protected with patents, designs, trade secrets and copyrights. However, an untimely evaluation could result in unintentional termination of rights through, for example, public use or disclosure.

What are the types of innovation?

  • Disruptive Innovation.
  • Incremental Innovation.
  • Sustaining Innovation.
  • Radical Innovation.

Is intellectual property protection needed to promote innovation?

Why is IPR Important? Intellectual property protection is critical to fostering innovation. Without protection of ideas, businesses and individuals would not reap the full benefits of their inventions and would focus less on research and development.

Why is it important to protect innovations?

Obtaining trademark protection may help you bolster your brand value and goodwill with customers and investors. Patent and industrial design protection can help you maintain market exclusivity and build a barrier to entry against your competitors. A lot of entrepreneurs may worry about safeguarding their innovations.

Why are property rights being important to innovation?

Intellectual property rights (IPRs), such as patents and copyrights, are an important means used by firms to help protect their investments in innovation. They are legal instruments that have been used by governments for centuries to encourage industrial development and economic growth.

How can IP laws facilitate innovations and inventions?

Intellectual property laws encourage innovation by allowing individuals and firms to stake out IP rights thereby protecting their investments in research and development.

Do stronger intellectual property rights increase innovation?

Across a world sample, we show that the higher the intellectual property laws, the more positive impact they have on a country's level of innovation, as measured through export sophistication.

What is the role of IPR in creative world?

Intellectual property rights allow creative freedom and encourage innovators and creators to be responsive to consumer needs. The dissemination of ideas, knowledge and information necessary to stimulate creation and innovation is encouraged by intellectual property rights, especially patents and copyrights.

What are the 7 intellectual property rights?

Rights. Intellectual property rights include patents, copyright, industrial design rights, trademarks, plant variety rights, trade dress, geographical indications, and in some jurisdictions trade secrets.

What are examples of intellectual property?

  • Patents.
  • Domain names.
  • Industrial design.
  • Confidential information.
  • Inventions.
  • Moral rights.
  • Database rights.
  • Works of authorship.

What is the most important type of intellectual property?

Patent. A patent is used to prevent an invention from being created, sold, or used by another party without permission. Patents are the most common type of intellectual property rights that come to people's minds when they think of intellectual property rights protection.

How do patents promote innovation?

A patent may be a powerful business tool allowing innovators to gain exclusivity over a new product or process, develop a strong market position and earn additional revenue through licensing. Patent protection is usually sought at the research and development (R&D) stage of the technology life cycle.

What are the sources of innovation?

  • Unexpected Occurrences. Consider, first, the easiest and simplest source of innovation opportunity: the unexpected.
  • Incongruities.
  • Process Needs.
  • Industry and Market Changes.
  • Demographic Changes.
  • Changes in Perception.
  • New Knowledge.

What are the four main ways of protecting business innovation?

Four Ways to Protect Your Business Ideas: Patents, Trademarks, Copyright, and Trade Secrets.

What is innovation example?

Lego has been changing the materials of its famous bricks to biodegradable oil-based plastics. The first electric vehicles introduced in the car's market were also an innovation, and new batteries with longer ranges that keep coming out are also an example of innovation.

What is the concept of innovation?

The definition or meaning of innovation can be defined as a process that involves multiple activities to uncover new ways to do things. It should not be confused with creation since this can be defined as the act of making, inventing, or producing something. However, new innovations can be realized with creativity.

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Intellectual property protection and innovation

Comment by Doreatha Begeman

how to protect innovation and intellectual property in five different ways what is intellectual property intellectual property covers any original ideas designs discoveries inventions and creative work produced by an individual or group it was not a big deal to protect ip in the past however with information more accessible and easier to distribute today due to technology safeguarding your creations and works from infringers copycats and thieves has become vital to any business intellectual property protection is not just necessary to ensure that your innovations will not be copied or stolen it establishes an incentive so whatever you create can proliferate and benefit more people without violating your rights here are five different ways to protect your intellectual property the first way you can protect your intellectual property is to register copyrights trademarks and patents copyright trademark and patent are three of the most common types of intellectual property protection these grant you the exclusive rights to your creations especially when it comes to the commercial gains of its use copyright copyright applies to the protection of tangible and intangible creative works you own the copyright the moment you create something even if you did not register it however it will be easy to validate your ownership especially in a legal dispute if you take your time to register your work copyrights expire 70 years after the death of the creator but can be longer depending on the nature of the intellectual property trademark businesses use symbols designs logos and catchphrases as part of their marketing strategy and identity it is these images and words that help a company connect to its customers thus these need to be protected from possible commercial saboteurs who might use or copy the designs for their own economic gain you may register your trademark online within your country or region however the agency advice is hiring a trademark lawyer to ensure that you won't miss out any steps or paperwork to this extensive process trademarks do not carry an expiration date since you own the rights to your logos symbols and other branding identities in perpetuity however as an added protection trademark owners are encouraged by law to file for a declaration to confirm that the intellectual property is still actively used patent if you have invented a unique product machine or equipment or chemical composition you can also protect this intellectual property by filing for a patent patents carry legal protection that excludes others from making and distributing your invention unless you have given them the license there are different types of the patent process and the conditions or requirements depend on the product or invention thus you will need to carefully identify which category the intellectual property fits best most intellectual property patents are valid from 15 to 20 years after the filing date after this has lapsed your product will have a patent pending status unless you renew it with the agency in charge take your time to clearly understand the differences between copyrights trademarks and patents so you could make the right choice the second way you can protect your intellectual property is to your business product or domain names if you are planning to start a business with your intellectual property you can further protect your interest and identity by registering the business product or domain name associated with it it will also help to secure these names even if you are just in the planning stages of forming your business before others come up with a similar idea and cause some confusion for instance tech giant apple did not own the domain name until 2012 since it belonged to an illustration company it was alleged that apple paid a substantial amount to the former owners to acquire the domain name your business product and domain names are part of your brand even in cases of a sole proprietorship where you conduct your business under your own name for example john doe photography service it will still help to secure registration you also gain legal protection that makes your business and intellectual property a separate entity from your own person this will prove valuable should you run into legal hitches in court business and product names are usually registered in the country where you operate and the requirements and paperwork may vary domain name registration on the other hand may be quickly done online through your preferred provider the third way you can protect your intellectual property is to create confidentiality non-disclosure or licensing contracts for employees and partners sometimes there is crucial information about your business that you should protect from leaking in public for instance you are developing a video game but you do not want the details to come out before it is ready to launch thus it will be prudent to ask the game developers and other people working for you who have knowledge or access to information or trade secrets to sign a confidentiality agreements with involved parties to ensure the intellectual property is protected confidentiality bound employees and workers to comply with your demands to keep what they know private otherwise they will be legally liable for any leaks confidentiality agreements are also known by other names including a non-disclosure agreement or nda confidential disclosure agreement or cda proprietary information agreement or pia secrecy agreement or sa licensing on the other hand grants a third-party partner with access to your products for their use branding and distribution disney for instance gives licenses to toy makers and distributors for its popular merchandise however the licensor disney in this case defines the parameters of the use of its ip which may include the quality of the products or toys as well as the distribution process since there are plenty of grounds to cover with licensing it's important to consult with lawyers to ensure that all aspects of protecting the ip are established in the licensing agreement the fourth way you can protect your intellectual property is to implement security measures nearly all businesses are conducted today using technology or the internet there is an upside to this because technology may fuel the growth dynamics and success of an operation however there are also downsides to using technology to conduct the business especially when your company's intellectual property is integrally connected online or stored in a system that may be vulnerable to hacking or file corruption thus there is a need to implement robust security measures within the information technology framework of your company these may include setting up password protection for all computer networks encrypting data especially since files are shared within the company's information technology system using virtual private network access also known as vpn establishing wi-fi protected access to invest in reliable software tools to use for storing and distributing files regardless of the size of your business for larger companies however hiring a

Thanks for your comment Doreatha Begeman, have a nice day.
- Bettie Truby, Staff Member

Comment by Hutlas5

a crucial element of formulating a firm's innovation strategy is determining whether and how to protect its intellectual property four the primary methods of protecting intellectual property include patents copyright trademarks and trade secrets the most commonly used form of patents are utility patents utility patents protect new and useful processes machines manufactured items or combinations of materials such as a bagel slicing device or processed from manufacturing bagels there are also plant patents for the discovery and asexual reproduction of a distinct and new variety of plant and design patents for original and ornamental designs for a manufactured item to qualify for patent protection an invention usually has to be useful novel and non-obvious this means in practice that just swapping out a material for something normally used or making an item more portable generally doesn't qualify for patent protection there's no global patent standard but there are treaties that help to harmonize patent laws across countries and make it easier to apply for patent protection in multiple countries at the same time copyright protection protects works of authorship such as books music films or software to qualify for copyright protection a work must be fixed in a tangible form such as being written down or recorded protection begins from the moment that work is fixed you only have to register your copyright if you want to file an infringement suit you cannot use copyrights to protect titles names short phrases slogans or lists of ingredients trademarks are words phrases symbols or other indicators used to distinguish the source of goods they can even be sounds or smells like copyrights trademarks are also usually established from first use but require registration to file suit but suppose you have a recipe or a process that is valuable but not protectable with patents copyrights or trademark that's where trade secrets come in in just a few minutes the formula will be mine to qualify for trade secret protection the information must offer a distinctive advantage that remains valuable only so long as it remains private the information must not be generally known or readily ascertainable through legitimate means and the trade secret holder must exercise reasonable measures to protect the secrecy of the information last but not least it's important to remember that sometimes your best strategy is to not protect your intellectual property for example sometimes firms don't protect their intellectual property when they're trying to build a dominant standard and they want others to adopt it or when they primarily profit from complementary goods sometimes firms publish their intellectual property to prevent competitors from patenting it to read more about this check out the article below thanks thanks for watching if you enjoyed this video please hit like and subscribe so that you get notified when the new videos come out

Thanks Hutlas5 your participation is very much appreciated
- Bettie Truby

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