BME 5006 Study Guide - Midterm Guide: Humber College, Intangible Asset, Trade Secret
Document Summary
Intangible asset - cannot be secured with lock and key against unwanted transfer. Incentive/reward for people to create useful new inventions i. e. encourage disclosure/dissemination of powerful ideas that are beneficial to society long-term. Unspoken contract between society and the inventors to do what is in the best interest of society. Any intangible asset of the company is a piece of ip. Each asset may require different protections legally. Use" barriers - trademark, domain names, patents, etc. Knowledge" barriers - copyright, trade secrets, confidential information, etc. Adds market value (esp for start-ups/small companies) - sometimes 50%+ of their value comes from the ip they have (patents they hold, copyrights, etc. ) Blocks/hinders your competitors from using your ip. Ip attracts investors, strategic partners, customers and employees - it"s your distinguishing factor unique to you. You need protection so that no one infringes on your ip. Utility patents - must be useful, novel, and non-obvious. Plant patents - new plant type (interesting!)
