ENTREPRENEURSHIP Lecture No: 19 BY CH. SHAHZAD ANSAR

LEGAL ISSUES FOR THE ENTREPRENEUR

Trade Mark A distinguished word, name or symbol used to identify a product The trademark is given a 20-year registration with 20-year renewable terms Today the law allows filing a trademark solely on the intent to use the trademark in interstate commerce There are benefits to registering a mark that has already been in use. 4

Categories of Trademark Coined marks Arbitrary mark Suggestive mark Descriptive mark

Registering the Trademark Completion of the written form A drawing of the mark. Five specimens showing actual use of the mark. The fee

Copyrights A copyright protects original works of authorship. The protection does not protect the idea itself. It allows someone else to use the idea in a different manner. The PTO issues registration for software source codes and object codes programs.

Trade Secrets Protection against others revealing or disclosing information that could be damaging to business Trade secret has life as long as the idea or process remains a secret It is not covered by federal law The holder of trade secret has the right to use any signee who breaches such an agreement

Licensing Contractual agreement giving rights to others to use intellectual property in return for a royalty or fee Licensing has significant value as a marketing strategy to holders of patents. The agreement must be carefully worded and should involve a lawyer. Licensing a trademark Licensing can be valuable for a firm that lacks resources to conduct R&D to develop a product.

The Patent Application Introduction: Background and advantage of invention Description of invention: It consists of description of drawings according to PTO requirement Claims: The criteria through which any infringements is determined