Assignment: Protect Your IP (CO3)
Recommend the steps you would take to protect the most significant item of intellectual property you currently believe your company possesses. Include a step by step process of what you would provide as documentation, how you would file the necessary documents (including any websites addresses), and associated fees required to file for IP protection in the United States (US).
Minimum 2 pages
Minimum 2 scholarly sources
I will attach all necessary information to complete the assignment.
Some info from our lesson this week:
What is Intellectual Property?
A company having a novel technology in the marketplace can become an industry leader, but can’t sustain its success unless it takes appropriate steps to protect that intellectual property (IP) asset from competitors acquiring and using it. Intellectual property can include concepts, developments, improvements, inventions, data and information, works of authorship, trademarks, regardless of whether it is patentable, copyrightable, or eligible to any other form of protection, in use or practice (Duening, T.N., Hisrich, R.D., & Lechter, M.A. 2015).
A patent is a contract between the US government and an inventor. In exchange for disclosure of the invention, the government grants the inventor exclusivity regarding the invention for a specific period of time. At the end of that period, unless the patent protection is extended, the invention’s intellectual property becomes part of the public domain. A patent gives the inventor a right to legally protect their invention from anyone making, using, or selling the defined invention.
A trademark protects a brand name. A trademark or service mark includes any word, name, symbol, device, or any combination, used or intended to be used to identify and distinguish the goods and/or services of one seller or provider from those of another’s and to indicate the source of the goods and/or services. The terms “trademark” and “mark” refer to both trademarks and service marks. You will see the symbol ® if it has been trademarked with the US PTO office; it is illegal to use that symbol otherwise.
Once you determine you need a trade or service mark, selection must be done with care because not every mark is registrable with the USPTO. Also, before filing a trade or service mark application, one should consider doing research on the USPTO site to (1) determine whether the mark you want to register is registrable, and (2) assess how difficult it will be to protect your mark based on the strength of the mark selected. Many new businesses and individuals registering their trademarks often choose a mark for their product or service that is difficult if not impossible to register for various reasons.
A Copyright is a form of intellectual property (IP) protection provided by U.S. law to the authors of an “original work of authorship” produced in any tangible form or medium of expression. The tangible form and medium of expression are virtually unlimited. Protected creative expressions may be produced in words, numbers, notes, sounds, pictures, or any other graphic or symbolic media.
Protecting Your Business
In order for a start-up venture to have a competitive advantage, Intellectual Property (IP) is particularly important. Now that you have a fair understanding of what IP protection is, you’ll need to decide what you have to protect. This is especially important for a start-up company in an already established market with strong competitors. For such a firm, success requires a competitive advantage, which can be derived from some form of IP. For technology companies, that competitive advantage can come from a patent. When technology is developed to fulfill a need or to solve a problem encountered in the marketplace, an opportunity for IP is created and the rights to that technology should be pursued (Duening, T.N. et. al, 2015).
My business concept:
“DIY K-9 KIT & Training center”- My idea is on having a home dog training course and a kit. The kit will be in such a way to be put together by the customer of the idea. The kit is designed to include cones, ramp, treat bag, tunnel, command platform and shock collar. There will also be a study guide booklet that will teach the customer step by step on how to go about to the training the dog. There will also be an APP where the customers may download in their smart phones and thus allow the customers to link with a professional dog trainer. There will also be a tracker to see the progress of the dog as well as marking goals and timelines all along the way. The first week after the customer will use the app for free and then choose the option of purchasing the subscription monthly. I will also offer dog training services myself. Including multiple packages depending on what type of training you’d like for your dog. To include basic obedience training, search and rescue, show dog training etc…