Blanco, Harley David R.Mandap, Chrisdan A.

Product Management

Research the following:TrademarkDistinctivedesign,graphics,logo,symbols,words, or anycombinationthereof that uniquely identifies a firm and/or itsgoodsorservices,guaranteestheitem'sgenuineness, and gives itownerthelegal rightsto prevent the trademark's unauthorized use. A trademark must be (1) distinctive instead of descriptive, (2) affixed to the item sold, and (3) registered with the appropriateauthoritytoobtainlegalownershipandprotectionrights. Trademark rights are grantedusually for 7 to 20 years and, unlike in case ofpatents, are renewable indefinitely. These rights are protectedworldwideby internationalintellectual propertytreatiesand may beassignedby their owner to otherparties. Although a trademark has nolimitedterm of existence, the rights to use it may be lostduetomisuseor lack of use. Trademarks are divided into 42 international classes, eachclassrepresenting similar goods or services. Whereas a trademark may be registered under multiple classes, it is protected only in the class(es)relevantto thebusinessortrade areaof the item. And, whereas the use of symbol 'TM' does notprovideany legalbenefit, it precludes the infringer's defense of lack ofknowledgeof a trademarkclaim.Costsincurredin design andregistrationof, and in defending, a trademark are usuallyamortizedover the life the trademark or 40 years, whichever is shorter. Imbalance, trademarks are identified asintangible assetsand, in somecasessuch asCocaColaCo., are far more valuable than the firm's allother assets. The term trademark includes theassociatedtermservice mark (SM).

Trade Name Atrade nameis anynameused in the course of business that doesn't include the full legalnameof all the owners of the business. In the case of a limited partnership, corporation, or LLC, it's anynamethat differs in any respect from thenameregistered with the Secretary of State.PatentLimitedlegal monopolygrantedto anindividualor firm to make, use, andsellits invention, and to exclude others from doing so. An invention is patentable if it isnovel, useful, and non-obvious. Toreceivea patent, apatent applicationmustdiscloseall details of the invention so that others can use it to furtheradvancethetechnologywith new inventions. Patentableitemsfall under four classes (1)Machine: apparatus ordevicewith interrelatedpartsthat worktogether to perform theinvention'sdesignedor intendedfunctions, (2)Manufacture: all manufactured or fabricated items, (3)Process: chemical,mechanical, electrical or other process thatproducesa chemical or physicalchangein theconditionorcharacterof an item, and (4)Compositionof matter: chemicalcompoundsor mixtures havingpropertiesdifferent from theirconstituentingredients. In most of the world, patents are granted on the 'first to apply' basis, with aprotectionperiodof 7 years (India) to 20 years (European Union). In the US, they are granted for 17 years on the 'first to invent' basis.Responsibilityof identifying, locating, and suing the patent violators, however, rests solely with the patentholder; patentlawprovidesonlymeansofprosecutionand determination of just compensation.

Copyright

Legal monopolythat protectspublishedor unpublishedoriginalwork (for thedurationof itsauthor'slifeplus50 years) from unauthorized duplication withoutduecreditand compensation. Copyrightcoversnot onlybooksbut alsoadvertisements,articles,graphic designs,labels,letters(including emails), lyrics,maps, musicalcompositions,product designs, etc. According to the major internationalintellectual-propertyprotectiontreaties(Berne Convention, Universal CopyrightConvention, andWIPOCopyright Treaty) fiverightsareassociatedwith a copyright: the right to: (1) Reproduce the work in anyform, language, or medium. (2) Adapt or derive moreworksfrom it. (3) Make and distribute itscopies. (4) Perform it in public. (5) Display orexhibitit in public. Toacquireavalidcopyright, a work must have originality and some modicum ofcreativity. However, what is protected under copyright is the 'expression' or 'embodiment' of an idea, and not the idea itself. A copyright is notequivalentof legal-prohibition ofplagiarism(which is an unethical and unprofessionalconduct, but not anoffense), and does notapplyto factualinformation.