Business Law: Chapter 8

Exam 1, Covering Chapters 1-9\n\nCHAPTER 8: INTELLECTUAL PROPERTY
Created Sep 30, 2012
by elizabethbrown45
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Side ASide B
U.S. Constitution
Article 1, "To promote the Progress of Science and useful Arts, by securing for limited...
Why has intellectual property become so important?
The value of many corporations is based primarily on I.P.
Original, Inc. sells its product under the name "Phido." Quik Corporation begins...
D. trademark infringement
Trademark
Any distinctive word, name, symbol, or device (image or appearance), or combination that an...
Trademark: How acquired
-At common law, ownership created by use of the mark -Registration with the appropriate federal...
Trademark: Duration
-Unlimited as long as product is still in use -To continue, renew registration between the...
Trademark: Remedy for Infringement
-Injunction prohibiting the future use of the mark -Actual damages plus profits received by...
Trademark: Remedy for Infringement
-Injunction prohibiting the future use of the mark -Actual damages plus profits received by...
Trademarks and Related Property: Goal
-Distinguish product/service from goods of other manufacturers and merchants -Avoid consumer...
Statutory Protection of Trademarks: Lanham Trademark Act (1946)
-Enacted to protect companies from losing business to rival companies that use confusingly...
True/False A dilution cause of action requires proof that consumers are likely to be confused...
False: keyword, requires
Statutory Protection of Trademarks: Federal Trademark Dilution Act (1995)
-Creates cause of action regardless of competition or confusion based on a "similar"...
Distinctiveness of Mark
-Trademark must be sufficiently distinct -'Strong' Marks: fanciful, arbitrary, suggestive  ...
Aspirin, thermos, escalator, and nylon are all examples of: A. imported products not subject...
B. words that originated as trademarks, but that are now generic names
Trade Dress
-Refers to the image and overall appearance of the product or service -Same protection as a...
Service Marks 
-Similar to trademark but used to distinguish services of one person/company from another  ...
Trade Name 
A name of a business or one of its products which, by use of the name and public reputation,...
USA Transport Company uses a mark associated with its name to distinguish its services from...
B. a service mark
Counterfeit Goods
-Stop Counterfeitin in Manufactured Goods Act   -Makes it a crime to: traffic intentionally...
Cyber Marks: Cybersquatting
When someone registers a domain name that is the same as or is confusingly similar to the trademark...
Cyber Marks: Anti-Cybersquatting Cosumer Protection Act (1999)
-Amended the Lanham Act to make illegal to register or use a domain name that is confusingly...
Problems of cybersquatting
-More top level domain names available -More domain name registrars -More companies registering -Typosquatting
Cyber Marks: Licensing
-Allows Use of trademark -And other intellectual property -Often result of dispute
"Obama Signs Patent Overhaul Bill," npr.org, Sept. 16, 2011
-Changes our system to a first to file   -first to file, gets patent   -not the person...
Patent
A grant from the government that gives an inventor exclusive rights to an invention
Patent: How to acquire
By filing a patent application with the U.S. Patent and Trademark Office and receiving its...
Patent: Duration
Twenty years from the date of the application; for design patents, 14 years
Patent: Remedy for Infringement
Monetary damages, including royalties and lost profits, plus attorneys' fees. Damages may...
Patents: Public Policy
-The patent system is a deal between the US and inventors -Inventors agree to disclose their...
Patents: In order to be considered
Must prove that the invention, discovery, process, or design is: -novel -useful -not obvious
Examples of Patents for Business Processes
-Priceline.com: auction system -About.com: data mining system -Amazon.com: one-click ordering...
Patent Infringement
-Litigation expensive -Often results in licensing/royalties
-Max plots a new Batman adventure and carefully and skillfully imitates the art of DC Comics...
Probably not Can't copy another's expression
What if Max had been raised on a largely deserted island and independently came up with the...
Probably Can only copyright the expression of an idea, not the idea itself
Copyright protection is not available for...
any "idea, procedure, process, system, method of operation, concept, principle, or discovery."
Copyright
The right of an author or originator of a literary or artistic work, or other production that...
Copyright: How acquired
Automatic (once the work or creation is put in tangible form). Only the expression of an idea...
Copyright: Duration
For authors: the life of the author plus 70 years
Copyright: Remedy for Infringement
Actual damages plus profits received by the party who infringed or statutory damages under...
Copyright of 1976, as amended
-Works can be protected by registration at U.S. Copyright Office
Copyright: "Works Made for Hire"
Unless agreed otherwise, the rights to copyrighted works created by an employee within the...
Copyright Symbol: Required?
-It used to be required, but it is now optional -It's use may be important, however, because...
Copyright: Law Grants
The right to: -reproduce the work -create derivative works based on the original -perform the...
Copyright: Compilations
Compilations of facts are copyrightable but the compilation must be "original"
George Harrison copies the song He's So Fie and sells it to Phil Spector, who publishes...
C. both George and Phil commit copyright infringement
True/False Under the "Fair Use" exception, a person can reproduce copyrighted material...
True
Copyright Infringement: "Fair Use"
-Provides for exception to liability from reproduction of copyright under the "fair use"...
Copyright: Computer Software Copyright Act (1980)
-classifies computer software as a "literary work" 
True/False Intentionally distributing pirated, copyrighted works to others is a crime only...
False
Digital Copyrights: No Electronic Theft Act (1997)
Extends criminal liability for piracy of copyrighted materials-even if no profit
Digital Copyrights: Digital Millennium Copyright Act (1998)
-Provides civil and criminal penalties to circumvent encryption software (like DVD) -Limits...
Trade Secret
Any information that a business possesses and that gives the business an advantage over competitors...
Trade Secret: How Acquired
Through the originality and development of the information and processes that constitute the...
Trade Secret: Duration
Unlimited, so long as not revealed to others. 
Trade Secret: Remedy for Infringement
Monetary damages for misappropriation; punitive damages if willful; plus costs and attorneys'...
Examples of Business Trade Secrets
-customer lists -business plans -research and development -formulae -pricing information -marketing...
Uniform Trade Secrets Act (1979)
state uniform law that codifies common law
Economic Espionage Act (1996)
theft of trade secrets is a federal crime
International Protection for Intellectual Property: Berne Conventon
-Every country who signed the agreement must recognize copyright -World Intellectual Property...
International Protection for Intellectual Property: TRIPS Agreement of 1994
-created the World Trade Organization -Each member country must include in its domestic laws...
International Protection for Intellectual Property: Madrid Protocol
-signed by 61 countries, including U.S. -allows a single application for simultaneous trademark...
Ellen publishes a book titled First Place, which incldes a chapter from Frank's copyrighted...
D. regardless of whether consumers are confused or Ellen and Frank are competitors
Jill develops a new expresso machine, which she names "Quik Shot." She also writes...
B. the name
Jill develops a new expresso machine, which she names "Quik Shot." She also writes...
C. the operating manual
Jill develops a new expresso machine, which she names "Quik Shot." She also writes...
A. the espresso machine
Peak Corporation hacks into Quality Data Company's computers and downloads confidential...
A. theft of trade secrets


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