Intellectual Property Specific factual IP Questions

1.          

What is intellectual property, and why do we protect it?

What does society gain from intellectual property laws’ existence?

What trade-offs are made by the inventors/creators to obtain protection?

 

Intellectual property- a work or invention that is the result of creativity, such as a manuscript or a design, to which one has rights and for which one may apply for a patent, copyright, trademark, etc.

Why protect?

Moral principles of religion, legal system and philosophy. It is protected because stealing is wrong basically. Also, guaranteeing protection encourages creativity, since creations can be very profitable, which is good for society.

Society gains protection over ideas and any financial/ or any other gain from those ideas.

2.           Understand the four types of intellectual property protection, including

(a) how they are obtained; (b) what requirements are necessary; (c) how they are "infringed;"

(d) how long they last; and (e) how they may end or be lost:

1. 1.           Patent (Why is it considered the strongest form of IP protection? What is it designed to do? Understand what happened and the role of patents in Polaroid v. Kodak.)
   1. how they are obtained
      1. Application to the U.S. Patent Office
      2. what requirements are necessary
         1. Useful
         2. Novel
         3. Nonobvious
      3. how they are "infringed;"
      4. how long they last
         1. 20 year exclusive monopoly over expression or implementation
      5. how they may end or be lost:
         1. End of exclusive rights.
         2. Transfer to public domain
         3. Why is it considered the strongest form of IP protection?
            1. Gives the owner of the patent control over who can make, sell, and use the invention outlined in the patent.
            2. Cannot be two patents for the same idea, it will be unique.
            3. What is it designed to do?
               1. Protect utilitarian or functional devices or processes.

viii.Understand what happened and the role of patents in Polaroid v. Kodak.

1. Polaroid accuses Kodak of using their instant photography process.
   1. It was actually different in several ways.
   2. Polaroid claimed Kodak cost them $12 billion
      1. Eventually paid out $909 million which is the second highest settlement ever paid out.
      2. Case took 14 years.
      3. Found Kodak guilty of 7/12 patent infringements
      4. The most important/influential part of this case is that Polaroid was able to secure and injunction.
         1. This was despite the fact that many Americans had bought the product.
         2. Also surprising since at the time Kodak was a huge company and Polaroid was comparatively tiny.
         3. This case marked the beginning of a more patent-friendly court system.
            1. Earlier in the 20th century patents were frequently rejected to encourage competition to create new tech (phones etc.)