Young Inventors - The Value of Intellectual Property

Patents provide exclusive rights to make, use, import, sell and offer for sale the invention for up to 20 years.

• Utility patents protect useful processes, machines, articles of manufacture, and compositions of matter. Examples: fiber optics, computer hardware, medications.
• Design patents guard the unauthorized use of new, original, and ornamental designs for articles of manufacture. The look of an athletic shoe, a bicycle helmet, and the Star Wars characters are all protected by design patents.
• Plant patents are the way we protect invented or discovered, asexually reproduced plant varieties. Hybrid tea roses, Silver Queen corn, Better Boy tomatoes are all types of plant patents.

Trademarks are words, names, symbols, sounds, or colors that distinguish goods and services. Trademarks, unlike patents, can be renewed forever as long as they are being used in business. The roar of the MGM lion, the pink of the insulation made by Owens-Corning (who uses the Pink Panther in advertising by permission from its owner!), and the shape of a Coca-Cola bottle are familiar trademarks.

Copyrights protect works of authorship, such as writings, music, and works of art that have been tangibly expressed. The Library of Congress registers copyrights which last for the life of the author plus 70 years. Gone With The Wind (the book and film), Back Street Boys' recordings, and video games are all works that are copyrighted.

Trade Secrets are information that companies keep secret to give them an advantage over their competitors. The formula for Coca-Cola is the most famous trade secret.

Previous

• 1
• 2

Next