UNDERSTANDING BUSINESS (LL/ACCESS)
13th Edition
ISBN: 9781264671656
Author: Nickels
Publisher: MCG
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Chapter A, Problem 2CT
Summary Introduction
To think critically about: The process of obtaining patent and information related to the time and cost taken to obtain patent and trademarks.
Introduction:
Patent is a legal power which is provided by the sovereign authority to the investor to make and sell its invention and restricted to make others.
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What is patent search? Why is it very important? Who needs to conduct patent search? What are the patent databases available for you? What documents you can find when conducting patent search?
You have been hired by an inventor of a new power cell for cars, trucks and boats, who has some inquiries from prospective investors who would like to know more about the invention before they put their money into the business. He has not yet incorporated his business, but likes the idea.
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Chapter A Solutions
UNDERSTANDING BUSINESS (LL/ACCESS)
Ch. A.1 - Prob. A.1AQCh. A.1 - Prob. 1TPCh. A.1 - Prob. 2TPCh. A.1 - Prob. 3TPCh. A.3 - Prob. 4TPCh. A.3 - Prob. 5TPCh. A.3 - Prob. 6TPCh. A.3 - Prob. 7TPCh. A.4 - Prob. A.4AQCh. A.5 - Prob. 8TP
Ch. A.5 - Prob. 9TPCh. A.5 - Prob. 10TPCh. A.5 - What are the six conditions for a legally binding...Ch. A.8 - Prob. A.8AQCh. A.9 - Prob. 12TPCh. A.9 - Prob. 13TPCh. A.9 - Prob. 14TPCh. A - Prob. 1CECh. A - Prob. 2CECh. A - Prob. 3CECh. A - If you are interested in working in the legal...Ch. A - Prob. 1CTCh. A - Prob. 2CTCh. A - Prob. 3CTCh. A - Prob. 4CTCh. A - Prob. 1DCSCh. A - Prob. 2DCSCh. A - Prob. 5DCSCh. A - Prob. 1PPTCh. A - Prob. 2PPTCh. A - Prob. 3PPTCh. A - Prob. 4PPT
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- What do copyright and patents protect? What are the periods for which ownership of copyrights or patents subsist? In what circumstances can a person use copyright material without the consent of the owner? What are the two types of patents and why would a person apply for one or other of the patent types?arrow_forwardDiscuss the use of a patent by a software manufacturer to protect against the unauthorized use of its software. Is this an effective approach? Which would you recommend –the copyright or patent approach? – to safeguard software? Why? Discuss the conditions under which a company’s customer list can be considered a trade secret. Outline an approach that a university might take to successfully combat plagiarism among its students? Under what conditions are the use of reverse engineering an acceptable business practice?arrow_forwardCan an inventor file a patent infringement case in the absence of letters patent?arrow_forward
- The three key concepts in patent law are: Select one: a. value, copyright, and novelty O b. quality, value, and novelty O c. novelty, invention, and value O d. originality, novelty, and invention O e. supply, demand, and valuearrow_forwardKnowing the Ins and Outs of Filing a Provisional Patent Application I n start-up circles, it’s not uncommon to hear people say that they have a “provisional patent” or that they’re protected from someone stealing their invention because a provisional patent has been filed. neither of these statements can be true, because there is no such thing as a provisional patent. While the people who make those claims are normally well-intentioned, failing to be familiar with the basics of patent law can result in an entrepreneur inadvertently surrendering the patent rights for which he or she has an invention. If this happens, it can cripple a firm that’s planning on achieving a sustainable competitive advantage via its exclusive rights on an invention. Here’s an accurate assessment of what takes place for entrepreneurs working in the United States. What’s filed with the United States Patent and Trademark Office (USPTO) is a “provisional patent…arrow_forwardIs it always good for a unique invention to file a patent? Explainarrow_forward
- How are trademarks and patents different? Should they be?arrow_forwardUsing the Internet, Find three patents that are at least three years old. What are the elements that are common across these patents? What are the differences?arrow_forwardBusinesses frequently own patents on a number of products they Businesses frequently own patents on a number of products they do not produce and sell. This is sometimes cited as evidence that businesses suppress inventions. Is it? Businesses frequently own patents on a number of products theyarrow_forward
- To some people, these are a fruit, a bird and a part of a house. To others, these are a computer, a soap and computer software. Trademarks and brand names are important part of a company’s identity. These emblems and words allow customers to quickly know what they are buying and from whom. The process of registering a trademark o brand name requires an application with the U.S patent and trademark Office. In 1999, the Trademark Law Treaty Implementation Ac (TLTIA) took effect. This law simplifies the process for obtaining a trademark. TLTIA also coordinates U.S trademark laws with those of other countries participating in this agreement. When doing business in other countries, trademarks may not be protected due to lack of enforcement. A local company may use a well-known name to attract customers. In South America, Asia, and other region , smll business owners often use he practice. Some have used names such as “macdonalds” instead of “MCDonald’s”. Or in Ethiopia, the name…arrow_forwardDescribe a real case of a patent infringement. How was the process, the outcome, and what was the amount awarded for a successful defense?arrow_forwardIn your own words, explain the monetary advantages patent rights may offer to individuals or groups, explain how these advantages may be safeguarded, and provide some concrete instances of how they might be realized.arrow_forward
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