Innovation Management Chapter 6 Quiz: Managing Intellectual Property

Not properly identifying all of their IP, not fully recognizing the value of their IP, not legally protecting the IP that needs protecting, not using their IP as part of their overall plan for success

Patents, trademarks, copyrights, trade secrets

A contract between the government and an inventor that grants protection and prevents others from making, using, or selling the same idea/technology

<p>20 years</p> Signup and view all the answers

<p>Novelty, non-obviousness, industrial application (usefulness)</p> Signup and view all the answers

<p>Patent and Trademark Offices (USPTO)</p> Signup and view all the answers

<p>Intellectual Property (IP) is any product of human intellect that is intangible but has value in the marketplace.</p> Signup and view all the answers

<p>A company's intellectual assets are more important these days because they provide core competency, competitive advantage, and financial returns.</p> Signup and view all the answers

<p>The main idea behind protecting IP is to prevent assets and innovations from being used by others without permission.</p> Signup and view all the answers

<p>It is recommended to seek legal advice from a specialized lawyer because legal protection for IP is complex and mistakes could lead to serious financial losses.</p> Signup and view all the answers

<p>Firms can generate significant financial returns by licensing their IP to others.</p> Signup and view all the answers

<p>Types of IPs mentioned include Patent, Design Patent, Trademark, Copyrights, and Trade Secret.</p> Signup and view all the answers

<p>To grant inventors or discoverers rights over novel devices, products, processes, or materials.</p> Signup and view all the answers

<p>Evidence of being first to market, establishment of the invention's start date, complete history and description of the invention, and claims for the product's usefulness.</p> Signup and view all the answers

<p>Access to new knowledge, opening new markets, establishing technological leadership, enhancing reputation, setting standards, blocking similar developments, and converting competitors into defenders.</p> Signup and view all the answers

<p>To protect the visual appearance of a product, not its features, and prevent others from using the same design.</p> Signup and view all the answers

<p>A word, name, symbol, or device used to identify the source or origin of products or services and distinguish them from others.</p> Signup and view all the answers

<p>It ensures the same rights and protection for all contracting states, offers national treatment, standardization, common rules, and right of priority.</p> Signup and view all the answers

<p>selecting, searching, applying</p> Signup and view all the answers

<p>It constitutes an attempt to mislead customers.</p> Signup and view all the answers

<p>Rebranding, modernization, mergers and acquisitions, international expansion, repositioning, crisis management, legal reasons</p> Signup and view all the answers

<p>Approximately 70 years</p> Signup and view all the answers

<p>Original work, unpublished, recorded on a published physical tool, has creativity compared to previous work</p> Signup and view all the answers

<p>To prevent others from printing, copying, or publishing original works of authorship</p> Signup and view all the answers

<p>Literary works, musical compositions, computer software, dramatic works, pantomimes, choreographic works, and pictorial, graphic, and sculptural works</p> Signup and view all the answers

<p>Examples of trade secrets include Coca-Cola recipe, KFC spices, and search engine algorithms. Measures to protect trade secrets include restricting access, labeling documents, password protecting files, maintaining logbooks for visitors, and ensuring overall security measures.</p> Signup and view all the answers

<p>Firms need to protect their IPs to preserve core competences and maintain competitive advantages. Intellectual assets are often more important than physical assets.</p> Signup and view all the answers

<p>As long as the idea or process remains a secret and has economic value.</p> Signup and view all the answers

<p>To ensure existing IPs are protected and to identify works in progress for systematic documentation and protection.</p> Signup and view all the answers

<p>Restricting access, labeling documents, password protecting files, maintaining logbooks for visitors, maintaining logbooks for access to sensitive material, and maintaining overall security measures.</p> Signup and view all the answers