Intellectual property (IP) protection

My name is Professor Milé Terziovski. I'm a tenured Professor of Entrepreneurship and Innovation at Swinburne University of Technology in Melbourne, Australia. Today's topic is on intellectual property protection.

Protecting innovations is imperative in the commercialisation of technology to ensure intellectual property is retained. The topic explores the basic concepts of intellectual property. Relevance of IP, the patent acquisition process, the importance of non-sisclosure agreements, strategies for managing IP portfolios, and intellectual property rights. Legal battle between Apple and Samsung over the smartphone design, we will look at that case study briefly.

I refer you to the figure on intellectual property strategy which illustrates the three pillars of IP strategy: product market actions, barriers to imitation, collaborative arrangements; continuous innovation, which includes continuous improvement, product platform, and radical innovation, and finally, the legal strategy - what we've been talking about: patents, the copyright, the trade secrets, and trademarks.

Forms of intellectual property. Patents are a valuable source of technological knowledge. Firms also use patents in ways other than protecting profits from innovation. For example, blocking rivals, earning licensing revenue, negotiation over technology rights, internal measures of innovative performance, and enhancing the firm's reputation. Patents grant exclusive rights to inventors for a certain period, usually 20 years, to make, use, and sell their inventions. Patents also protect new inventions, processes or designs preventing others from exploiting the idea without permission. Let's look at trademarks. Trademarks protect symbols, names, and slogans used to identify goods or services. They help establish brand identity and consumer recognition, which is essential for market differentiation and customer loyalty. Trademarks, particularly in less technologically intensive industries, are useful for protecting company's products. Trademarks are closely associated with business image, goodwill, and reputation. The key criteria are capable of being represented graphically, be distinctive, not be deceptive, and not cause confusion with prior trademarks. Trademarks now extend to sounds, smells, and containers. Registration of trademark gives protection for 10 years from date of registration. The trademark can be renewed indefinitely for further 10-years period.