Unit 10

 Every year millions of new business ideas are developed worldwide. In the past successful business ideas developed by small startup business have included businesses like Coca Cola, Dyson vacuum cleaners, and Nintendo who launched a new product called the Wii in 2006

 Appreciate how new business ideas come about,  Understand the difference between invention and innovation,  Understand that innovation means bringing a new product to the market,  Explain the ways an entrepreneur can protect their ideas through patents and copyright.

 Invention – the discovery of a new or potentially new product, typically after a period of research.  Innovation – the process of transferring the invention into an actual product,  Patent – the right of ownership of a invention (product or service) when it is registered with the Government.  Copyright – legal ownership of material (books, music, films), prevents copying  Trademark – the symbol, sign or other feature of a business that can be protected in Law

 New business ideas can be developed by people who use a product. James Dyson developed the bagless vacuum cleaner after using an ordinary cleaner to clean his house.  Some products are developed by people who have a good understanding of their product already.  Many business ideas are developed by research and development departments in big companies.

 Invention is the discovery of potential new products and new ways of making them.  Over the past 100 years there have been a number of important inventions, like TV, and mobile phones. There have also been smaller less significant inventions, like the game of Monopoly or Scrabble.

 The process of transforming an invention into a product customers will buy is called innovation.  It is the commercial exploitation of an invention, the actual putting of the idea into a product or service

 Invention and innovation are very risky. Many inventions never get to the point where they are actually made and sold.  For Example in 1990's 'virtual reality seemed to be an exciting technology, however, this technology never took off because of problems with the headsets!  Forbes Article Forbes Article 

 The risk with inventing new products is always that people will try to copy it. There is no point in a business spending money and time developing new products if someone else can just steal the idea and copy them.  To prevent this from happening business can apply for patents and use copyright to protect their inventions and new products.

 Put together a fact sheet covering the main point of the Copyright, Designs and Patents Act  When was the Act introduced/updated?  What does it cover?  Who does it apply to?  What are the main points of the Act.

 ct/legal/2copyrightrev1.shtml ct/legal/2copyrightrev1.shtml  Use this link to help you and note it down for revision.

 Register a trademark. A trademark is a symbol or phrase that a company can register with the government to make their company distinctive.  A patent, copyright or trademark grants legal ownership and is only given for original work. usiness/aims/publicsectorrev3.shtml

 Patents must be registered with the Intellectual Property Office, last for 20 years and protect the product or production processes. 

 What is invention and innovation?  What Laws cover newly designed products and services?  What is copyright?  What is Patent?  What is a trademark?  Why is it different from a logo?  How do you patents a process/design?  Answer in full sentences, with detail!!

 Complete overtu Invention and Innovation