Management Management Business managers are confronted on a daily basis with decisions regarding the use of real, personal, and intellectual property, and the rights and duties existing with relation to these property rights while at work. Add cybercrime, cyber piracy, and international business operations to this equation, and the manager is left with much to consider when evaluating the legal risks associated with the use of these properties as they engage in their business activities. It is the purpose of this assignment to promote the evaluation of all risks when using company and personal property, particularly intellectual property, both domestically and internationally.
The Importance of Intellectual Property Valuation and Protection A recent spate of initial public offerings, high-profile mergers and acquisitions, and litigation has thrust intellectual property IP into an increasingly critical position in global economics. With limited resources and bottom -ine pressures from stakeholders, companies need a high rate of return on their intellectual property IP investments and appropriate protection for it.
Not taking action could pose a serious threat to the success of the organization. What Is Intellectual Property? Intellectual property is a general term for the set of intangible assets owned and legally protected by a company from outside use or implementation without consent.
Stemming from its ability to provide a firm with competitive advantages, defining IP as an asset aims to provide it the same protective rights as physical property.
Obtaining such protective rights is critical as it prevents replication by potential competitors—a serious threat in a web-based environment or the mobile technology sector, for example.
An organization that owns IP can realize value from it in several ways, namely through utilizing it internally—for its own processes or provision of goods and services to customers—or sharing it externally.
The latter can be achieved through legal mechanisms such as royalty rights. There is an extensive international system for defining, protecting, and enforcing intellectual property rights, comprising both multilateral treaty schemes and international organizations.
Nonetheless, there are variations in the respect for and enforcement of rights at a local level. Types of Intellectual Property IP as an asset category can be divided into four distinct types—copyrights, trademarks, patents, and trade secrets.
Copyrights Copyrights, among the most widely used types of IP, are a form of protection granted to the authors of original works of authorship, both published and unpublished.
A copyright protects a tangible form of expression i.
In the United States, under the original Copyright Act ofpublication was generally the key to obtaining a federal copyright. However, the Copyright Act of changed this requirement, and copyright protection now applies to any original work of authorship immediately from the time that it is created in a tangible form.
Trademarks Trademarks are another common type of IP.
A trademark, as defined by the U. Patents As compared to other types of intellectual property, patents are among the most valuable, costly, and difficult to obtain.
Sufficient documentation from the applicant coupled with verification of originality by the PTO is required before the grant can occur, and is then typically valid for 20 years from the date of application.
Once received, a patent owner may grant licenses to others for use of the invention or its design and may charge a fee for such usage.
Patents are valid only within the United States, including territories and possessions; however, countries have agreed to honor patents across borders through instruments such as the Patent Cooperation Treaty PCT.
Trade Secrets Any idea or fact that is not disclosed by a business comprises the fourth type of intellectual property: A trade secret is a unique form of IP in that it does not have a defined time horizon—an issue could remain secret simply while filing for a patent, or it could remain closely guarded for the lifetime of the firm i.
A trade secret, by definition, is proprietary or business-related information that a company or individual uses or to which they possess exclusive rights.
To be deemed a trade secret, the information must meet several requirements: Examples of trade secrets include the aforementioned recipes, business methods, strategies, tactics, or any other piece of information that gives the business a competitive advantage.
Why Value Intellectual Property?28 data protection experts weigh in with tips on securing intellectual property in its many forms. Intellectual property is often among an organization's most valuable assets, yet it's also vulnerable to threat and compromise, particularly the vast amounts of intellectual property stored electronically today.
Uber's business model merits closer inspection—even though it is a private company and the strength of its value capture remains a subject of conjecture—because it is a leading representative of the new crop of “sharing economy” business models.
Apr 16, · What actions must a manager in the Defense industry take to identify and protect his or her organization's tangible property rights, intellectual property rights and protect from violating others' int 5/5.
There are tons of free term papers and essays on What Actions Must a Manager In The Selected Industry Take To Identify And Protect An Organization's Tangible Property Rights Pharmaceutical on lausannecongress2018.com://lausannecongress2018.com What actions must a manager in the pharmaceutical industry take to identify the organization’s tangible and intellectual property rights?
A manager must take the time to identify, understand, and communicate an organizations intellectual and tangible property rights to each employee of the organization. What Actions Must A Manager In The Selected Industry Take To Identify And Protect An Organization S Tangible Property Rights International Property Rights Intellectual Property Protection is a very important because it protects innovation.