AFM231 Chapter Notes - Chapter 18: Canadian Intellectual Property Office, Patent Attorney, Industrial Design

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM231
• Professor: Valerie B Irie

Document Summary

Intellectual property: the results of the creative process. Ideas, expression of ideas, formulas, schemes, trademarks, etc: protection attached to ideas through patent, copyright, trademark, industrial design, etc. Creation of intellectual property rights: patent: a monopoly to make, use or sell an invention. Some ingenuity or inventive step involved in the invention. Specifications: description of an invention contained in a patent: how the product is made or the best way to perform the process or method, claims: the exclusive rights of the patent holder. Lasts for 10 years: not mandatory to mark the design to indicate it is registered but enhances owner"s rights in a successful infringement action, court may award monetary damages for infringement. If unregistered, they are known as common law trademarks: comes into existence when a business simply adopts and uses it, part of the goodwill of the company, same rights as registered trademarks.