Question

Benjamin Franklin created many useful inventions without any desire to receive financial reward. Is intellectual property protection needed in order to promote innovation? Is it hopeless to try to protect intellectual property in digital media? Post a thoughtful response and explain why you agree or disagree.

Answer 1

Intellectual property is said to be foundation of innovation in our economy. Intellectual properties which also known as IPs can be protected in four ways:

1.Copyrights

2.Patents

3.Trademarks

4.Trade secrets

Copyrights:

Copyrights the protects the original works in any format such as computer softwares,artists,movies and etc..Copyrights exists from the moment the work is created.So we must register for it.The most recommended one is U.S.copyright office.We can register copyrights through online too.The duration of copyrights depend on many factors.

Patents:

Patents gives property rights on any kind of inventions.It helps them to prevent others from making the invention.We get patents from U.S. Patent and Trademark Office (USPTO).

There are three types of patents:

1.Utility 2.Design and 3.Plant

A design patent covers any new, original, and ornamental design for an article of manufacture, while a plant patent covers any new variety of asexually-produced plant. A design patent lasts 14 years, and a utility or plant patent lasts 20 years.

Trademarks:

Trademarks differentiates source of goods of one business from it's competitors.Although rights in trademarks are acquired by use, registration with the USPTO makes it easier to enforce those rights. Before registering your trademark, you should conduct a search of federal and state databases to ensure a similar trademark doesn't already exist.

Trade secrets:

Trade secrets is a formula used by business people to have an advantage over their competitors.Examples of trade secrets are: soda formulas, customer lists, survey results, and computer algorithms. Unlike the other types of intellectual property, you can't obtain protection by registering your trade secret. Instead, protection lasts only as long as you take the necessary steps to control disclosure and use of the information.