Managing Intellectual Property in the New Electronic Economy Scott Johnson McKee, Voorhees, & Sease, P.L.C.

Importance of Intellectual Property Assets Internet = rapid spread of information Modern Manufacturing = minimal time to market Software as a product = no marginal costs

Importance of Intellectual Property Assets Recoup Costs of R & D Protect Market Share Increase Profitability

Intellectual Property Protections Patents Trademarks Copyrights Trade Secrets

Patents New, Useful and Nonobvious Machines Products Processes Compositions of Matter Business Methods Improvements upon all of the above Designs

Trademarks Words Symbols Logos and Combinations thereof

Copyrights Literary Video Music Architecture Drama Software Art Other Works of Authorship:

Intellectual Property- The Constitutional Provisions ART 1, SEC. 8, CL. 8. The Congress shall have power...To promote the progress of science and useful arts, by securing for limited times to authors and inventors the exclusive right to their respective writings and discoveries. Purpose: to foster creation and disseminating of works of authorship for the benefit of the public; to reward authors for their contribution to the public.

Intellectual Property Management Know Thy Self

Patents - What Do You Have? What problem is solved? Who solved it? How? –teach one of ordinary skill how to make and use the invention –disclose the best mode of practice When was it conceived? - keep records of conception/reduction to practice

Patents When Was It Filed? Should be filed as soon as possible after the completion date of the invention An invention is "complete" when the inventor can provide a description that would be adequate for one of ordinary skill in the art to make and use the invention Must be filed within one year of the date the invention is known of, used by others, sold or offered for sale

Is It Effective? Duration –Patents = 20 years from filing Area of Enforcement –U.S. –Foreign

Is It Any Good? Is it broad or narrow? Was a patent search done? Were there any sales, offers for sale, public disclosures, or public uses more than one year before filing?

Do You Have What You Need? Business plan / strategy Core focus Anticipated shifts in technology / demand Protecting your R & D

Dont Have it? - Get it Purchase it –get an assignment and record the assignment in the U.S. Patent and Trademark Office Get a license –Exclusive –Non-exclusive

Cant Get It? Cover Yourself Get a legal opinion from outside counsel on infringement and validity of a potential threat Design around - get confirming opinion of outside counsel

What Do You Do With It? Offense - lock out competition Defense - keep your market open Money Maker –assign –license –leverage

Manage Wisely Have Internal Procedures to manage ownership and stay ahead of disclosures Use software to get a 3-D look at where you stand Review competitors intellectual property on-line

Manage Wisely Maintain or increase your market share Block competitors regardless of rush to the market Nullify disclosures effects Supplement the bottom line

Thank You Scott Johnson McKee, Voorhees, & Sease P.L.C. 801 Grand Ave. Suite 3200 Des Moines, IA (515)