Intellectual Property

Intellectual Property
Intellectual property is the property that results from mental labor.  Intellectual property refers to the ideas that are "owned" by a person or company therefore they are protected by law.  Rights for owners of intellectual property are based on federal patent, trademark and copyright laws along with state trade secret laws.  Intellectual property law allows creators to profit from their ideas promoting innovation and enabling individuals to recuperate their development costs.

The basic forms of intellectual property protection are as follows:

Patent
A patent is a document from the federal government.  It grants an owner a right to exclude others from practicing the invention claimed in the document.  Patents protect inventions that are "novel" which means new and original.  These creations must also be nonobvious to an individual in the field of the invention.

Copyright
A copyright is defined as an exclusive legal right, given to an originator or an assignee to print, publish, perform, film, or record literary, artistic, or musical material, and to authorize others to do the same.  Copyright infringement occurs when work is reproduced, distributed, displayed or performed, or derivative works are made without permission from the copyright holder which is typically a publisher or other business representing or assigned by the work's creator.

Trademark
A trademark is defined as a symbol, word or words legally registered or established by use as representing a company or product.  Trademark infringement occurs when one party uses a trademark that is owned by another party, in relation to products or services which are identical or similar to the products or services of the other party.

Trade Secret

The Uniform Trade Secrets Act defines a trade secret as: Information, including a formula, pattern, compilation, program, device, method, technique, or process, that derives independent economic value, actual or potential, from not being generally known to or readily ascertainable through appropriate means by other persons who might obtain economic value from its disclosure or use; and is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.

5 Intellectual Property Tips

1. Keep the agreement files, along with additional records incase a license dispute arises.

2. Getting a patent is only half of the battle, enforcing the patent is the important part.  Be diligent.

3. Be prepared to negotiate on price.

4. Decide if it is your best interest to act.

5. Pursue options: Contact the violator directly; Pursue legal action; File a DMCA Infringement Notice.



Top Intellectual Property Lawyers

1. Mayer Brown LLP
http://www.mayerbrown.com/

2. Alston & Bird LLP
http://www.alston.com/

3. Baker & Hostetler LLP
http://www.bakerlaw.com/