Entrepreneurship Delivered in: Islamia University Bahawalpur Presented By: Tasawar Javed

Intellectual Property: Protecting Your Ideas Once you come up with innovative ideas for a product or service that has market potential, their immediate concern should be to protect it from unauthorized use. The Entrepreneur must understand how to put: Patent Trade Marks Copyrights to work for them!

Intellectual Property: protecting your ideas Patents – A grant from the federal government’s Patent and Trade Mark Office to the inventor of a product, giving the exclusive rights to make, use, or sell the invention in this country for 20 years from the date of filing the patent application. The purpose of giving an inventor a 20 years monopoly over a product is to stimulate creativity and innovation. After 20 years it expires and can not be renewed. – First patent law was signed in 1970

Intellectual Property: protecting your ideas The Patent Process To receive a patent, an inventor must follow these steps – Establish the invention’s novelty – Document the device – Search existing patents – Study search results – Submit the patent application – Prosecute the patent application

Intellectual Property: Trademark Any distinctive word, phrase, symbol, design, name, logo, slogan, or trade dress that a company uses to identify the origin of a product or to distinguish it from other goods on the market. (Same for service known as service mark) Trade Dress – The unique combination of elements that a company uses to create a product’s image and to promote it.

Intellectual Property: Copyrights An exclusive rights that protects the creators of original works for authorship such as literary, dramatic, musical, and artistic works. A copyright protects only the form in which an idea is expressed, not the idea itself. A copyright on a creative work comes into existence the moment its creator puts that work into a tangible form. Just as with a trademark, obtaining basic copyright protection doesn’t require registering the creative work with the copyright office.

Intellectual Property: TypeWhat it coversTime requiredcost CopyrightWorks of original authorship such as books or SW 2 weeks30 $ TrademarkLogos, names, phrases 6 months to 1 year900$ to 1500$ Design patentThe look of an original product Up to two years5,000 to 20,000 $ Utility patentHow an original product works 2 to 5 yearsSame Business method patent A business process or procedure 2 to 5 yearssame

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