Further Discussion about IP as a Strategic Business Asset

Hello, in this post, I will be continuing my discussion about Intellectual Property as a strategic business asset.  In particular, I will be discussing 5 aspects of IP that give us a good idea of the components of its marketplace.  Let me know what you think!

1. Intellectual Property is marked by the connections between its legal, social, and economic aspects.  It is regulated through corrections of biases and through a variety of solutions to keep the marketplace balanced. 
2. Even if proper organization is in place, IP markets hold several limitations.  It is important to recognize that systems do not solve all complications in the IP sector.
3. Self-organization of the IP market is very important but challenging, and is accomplished through the careful development of secondary institutions and resources to make limitations sustainable. 
4. Intellectual goods should have a transparent owner, participants that act with integrity, an IP value in an open market, and flexibility to support differing forms of innovation. 
5. Community Patent Review is revolutionary in the way that it allows for many experts to examine patent applications rather than a single examiner.  This can be achieved in a cost-efficient way.   

Lecture about IP as a Strategic Business Asset

Hello, today I will be posting about our lecture presentation on April 20^th, 2015 titled: The Role of Intellectual Property as a Strategic Business Asset

I will be listing the 10 aspects that are most important from this lecture, let me know what you guys think! 

1. Consumer Products are assigned intellectual property through copyrights, trade secrets, patents, and trademarks. 
2. A copyright can be defined as an original work of authorship in literary, dramatic, musical, or artistic form.  The protection lasts until the author’s life plus 70 years expires.
3. A trademark is a word, name, symbol, or device that is used in trade to distinguish a good or company.  Protection of a trademark is limited to “first use” of the entity or registering it with the USPTO, and does not expire as long as it is used commercially.
4. A trade secret is information about a business item that is kept confidential due to its economic value.  Protection of a trade secret comes with taking measures to keep the secret confidential, as ownership can be sustained indefinitely as long as it is not publicly disclosed.
5. A patent is a right to exclude others from making, using, or selling products covered by an invention in a defined territory.  A patent must be novel, non-obvious, reduced to practice, and granted validity by the USPTO.  A patent stays valid for 20 years after the filing date.
6. The patent marketplace of course consists of IP creators and IP users; however, the introduction of intermediaries such as non-practicing entities, patent aggregators, market makers, and financial services have flooded the market creating cross licensing complications and patent trolling. 
7. There are four types of Intellectual Property Transactions including licensing IP, selling IP, spinning off an IP, and enforcement or litigation of an IP. 
8. As a strategic business asset, IP can be split up into 3 lifecycles including: Developing IP position, Portfolio commercialization and Monetization, and Portfolio Liquidation. 
9. Failure to properly address IP issues can cause companies or products to lose market share, to endure margin erosion, and to lose market competitiveness. IP strategy determines how successful and profitable the invention will be. 
10. Many entrepreneurs often make the mistake of overprotecting their idea when they would be best served by sharing it with relevant and qualified people who could greatly help with feedback and execution.  

TED Talk Discussion #2

In this post I will be discussing another TED Talk titled “Kirby Ferguson: Embrace the remix.”

I will be discussing the 5 main points that Charles places emphasis on, so I would love to hear your comments!

1. Infringement can be mistaken for a Remix: Copy, Transform, and Combine are the basic elements
2. Ferguson believes that everything is a remix, and uses multiple examples of similar sounding songs to depict this phenomenon.  He uses the example of Bob Dylan, who was said to have very similar music to previous works. 
3. Patent Law often times goes against what it was originally intended for as stated by the Patent Act of 1790: “An Act to promote the progress of useful Arts”
4. “Great Artists Steal, But not From Me”- He gives an example of Steve Jobs publicly saying in 1996 that stealing ideas was shameless, but later condemns Android in 2010 for using a “stolen product.”
5. Ferguson concludes with the final thought that creativity comes does not come from within, but is dependent on one another.  

TED Talk Discussion #1

Hello! Today I will be discussing the TED Talk titled “Drew Curtis: How I beat a patent troll.”

I will be discussing the 5 main points to take from this video, so let me know what you think!

1. One of the major problems with Patent Law is that the defendant must prove that they did not infringe on the patent.
2. When getting sued by a patent troll, you are likely to spend about $2 million dollars, and will have a settlement in an average time of 18 months.
3. Don’t Fight the Patent, Fight the Infringement- You should then decide what you want to pursue. i.e. (settlement, lawsuit, scare tactics) **DON’T NEGOTIATE WITH Patent trolls.
4. Patent Trolls place $25 Billion dollars more damage to overall wealth than Terrorist acts since 9/11.
5. A decent amount of the time, patent trolls with settle out of the case to gain funds to pursue other patents to troll.