A Garage is for More Than Parking a Car Lesson 10 Slide 10A

What Does That Mean? TermDefinition startupthe early stages of a business enterprise. entrepreneursomeone who organizes, manages, and assumes the financial risks of a business or enterprise in order to make a profit. business incubatororganization that nurtures the success of startups by providing expertise, advice, mentorship, networking and sometimes financial assistance. profitwhat remains after total costs are deducted from total revenue; the measure of success of a business. Slide 10B

What Does That Mean? TermDefinition patent grant from a government giving the creator of an invention the sole right to make, use, and sell that invention for a set period of time. intellectual property IP; the product of human intelligence and creation, such as property created by inventors, musicians, authors, and artists. prior art the design has previously been invented or disclosed to the public. Slide 10C

What Does That Mean? Slide 10D TermDefinition copyrighta form of IP protection of literary, dramatic, musical, and artistic works, giving the author exclusive rights to its use and distribution. trademarkword, phrase, symbol or design, that identifies and distinguishes the source of the products of one company from those of others. United States Patent and Trademark Office USPTO; an agency under the U.S. Department of Commerce that issues patents to inventors for their inventions and IP identification.

What Does That Mean? Slide 10E TermDefinition infringementuse or copy of the product or product design without written permission from the patent, trademark, or copyright owner. prototypeearly sample or test model of a product. licensea grant by the patent owner of the right to commercially use or develop an invention for a period of time. World Intellectual Property Organization WIPO; UN-related forum for fostering a balanced and effective global IP policy.

Lesson 10 Objectives  Name the countries that currently out- innovate the U.S.  Define a business startup.  List 10 powerful American companies started by young entrepreneurs.  Explain the basic methods of patent, trademark and copyright for protecting intellectual property.  Tell five ways business ethics can be unintentionally violated. Slide 10F

Slide 10G  Google  Disney  Facebook  Apple  Amazon  Harley Davidson  Napster  Microsoft...

Slide 10H And The Award For The Most Innovative Countries Goes To...  Sweden  South Korea

Startups and Entrepreneurs  Startup is a new business of any kind but often referring to tech.  An entrepreneur manages and assumes financial risks (innovator/entrepreneur often has dual role)  Incubators and accelerators offer expertise, advice, networking, mentorship, and sometimes money…  NBIA  a lot of incubators around the country in all fields Slide 10 I

Famous Garage and Dorm Room Startups  Amazon  Apple  Disney  Dell  Google  Nike  Dropbox  Facebook  Harley Davidson  Mattel Toys  Hewlett Packard  Wordpress  Yahoo  Yankee Candle  Napster  Microsoft Slide 10J

Protecting IP  Like any other form of property, IP has laws for protection from theft  Patent  Copyright  Trademark  Oversees protections = Patent Cooperation Treaty and The Madrid Protocol  WIPO= UN IP forum Slide 10K

The Big Picture Slide 10L If businesses don’t stay up-to-date with products and processes, their competitors will takeover their share of the market. A startup is a fledgling business, often tech-related. Startups often consist of just a few innovators collaborating on an idea to develop a new product or process. Many innovators also take on the role of entrepreneur, organizing, managing the R&D team, and assuming the financial risks of a startup. Through business incubators and accelerators an entrepreneur with a startup can tap into industry expertise for advice, mentorship, networking and sometimes funding. Innovation can happen anywhere – even in a garage or dorm room. Patents, trademarks, and copyrights protect IP from theft. The World Intellectual Property Organization is a UN-related forum for IP policy, information, and cooperation.

Ponder and Predict  For a product, it’s a long journey from an innovator’s brain to a consumer’s hands. How does an idea develop into a marketable product? What are the stages of innovation? Slide 10M