Trade Secret & Intellectual Property Rights BUSINESS ETHICS Group No: 8 14 Nilesh Dodani 17 Mehul Goswamy 29 Amit Maisheri 34 Sye Nihalani 41 Dhaval Prajapati

Intellectual Property Rights are legal rights, which result from intellectual activity in industrial, scientific, literary & artistic fields. IPR safeguards creators & producers of intellectual goods & services IPR grants time limited rights to control their use. INTELLECTUAL PROPERTY

Intellectual property is divided into two categories:  Industrial Property  Copyright Industrial Property – Patents for inventions Trademarks Industrial designs Geographical indications Copyright – Literary works (such as novels, poems and plays) Films & music Artistic works (e.g., drawings, paintings, photographs and sculptures) Architectural design. INTELLECTUAL PROPERTY

Types of Intellectual Property 1.Patents 2.Copyrights 3.Trademarks 4.Industrial Design 5.Trade Secrets 6.Geographical Indications 7.Trade Dress

PATENTS  A patent is an exclusive right granted for an invention.  The word patent originates from the Latin patere, which means "to lay open" (i.e., to make available for public inspection).  A patent provides the patent owner with the right to decide how or whether - the invention can be used by others.  In exchange for this right, the patent owner makes technical information about the invention publicly available in the published patent document.  Like any other property right, it may be sold, licensed, mortgaged, assigned or transferred, given away, or simply abandoned.

PATENTS – MIRCOMAX & ERICSSON CASE Ericsson, the world's largest mobile network infrastructure player, has sued homegrown handset major Micromax for patent infringement, marking the arrival of bigticket technology patent litigation to Indian shore. Ericsson sued Micromax claiming about Rs 100 crore in damages stating that it had to take legal recourse after three years of negotiations failed to yield a license agreement on standard-essential patents, or patents on technologies that are standards for certain equipment such as mobile phones.

COPYRIGHTS Copyright is a legal term used to describe the rights that creators have over their literary and artistic works. Works covered by copyright range from books, music, paintings, sculpture and films, to computer programs, databases, advertisements, maps and technical drawings.

COPYRIGHTS Example.. Photograph: Mannie Garcia – 2006 (via The New York Times); Poster: Shephard Fairey – 2008 (via Wikipedia)

COPYRIGHTS Example.. Famous street artist Shephard Fairey created the Hope poster during President Obama’s first run for presidential election in The design rapidly became a symbol for Obama’s campaign, technically independent of the campaign but with its approval. In January 2009, the photograph on which Fairey allegedly based the design was revealed by the Associated Press as one shot by AP freelancer Mannie Garcia — with the AP demanding compensation for its use in Fairey’s work. Though there wasn’t a court case and an actual verdict, this case created a lot of discourse around the value of work in these copyright battles. It’s unlikely that Garcia’s work could have ever reached the level of fame it did, if not for Fairey’s poster Outcome The artist and the AP press came to a private settlement in January 2011, part of which included a split in the profits for the work.

TRADE SECRET A trade secret is a formula, practice, process, design, legal instrument, pattern or compilation of information which is not generally known, by which a business can obtain an economic advantage over competitors or customers. Trade secrets are aspects of your company that, if discovered by a competitor, could significantly impact your bottom line or your ability to compete in marketplace. In some jurisdictions, such secrets are referred to as "confidential information" or "classified information".

Why Trade Secret Protection is Important ? Patents, trademarks and copyrights are obtained through application to government agencies and defended by lawsuits against infringers. Trade secrets are neglected sibling, and yet may represent largest single contribution to intangible assets. Today, value of a company's intangible assets exceed those of its tangible assets.

TRADE SECRET Example year-old secret formula of Coca-Cola is at World of Coca-Cola in Atlanta Mrs. Fields Chocolate Chip Cookies Twinkie Cake Recipe Listerine Dr. J.J. Lawrence invented the antiseptic liquid compound Listerine, then licensed its secret formula

TRADE SECRET Example.. Procter & Gamble Co unit Gillette filed a lawsuit against four former employees for disclosing trade secrets to ShaveLogic Inc, their current employer. Breached their contracts with Gillette by disclosing highly confidential information and trade secrets Employees shared information related to technical innovations for enhancing shaving technology Defendants were working in an R&D capacity during their tenure at Gillette Shavelogic has adopted the practice of hiring former Gillette employees and advisors to gain trade secrets Gillette, which is more than a century old, said in the filing that monetary compensation would be determined at the trial

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