Intellectual Property

These flashcards cover key concepts and definitions relating to intellectual property, its types, legal protections, and enforcement.

What is the purpose of intellectual property in the economy?

It creates incentives for investment and innovation.

What type of information is protected by trade secret law?

Knowledge or information that is kept secret and has economic value.

What are the requirements for a valid patent?

An invention must be new, nonobvious, and useful.

What differentiates trademark dilution from trademark infringement?

Dilution refers to the weakening of a mark's distinctiveness, while infringement involves unauthorized use that causes confusion.

What is the term for copyright protection?

Life of the author plus 70 years.

What does the Economic Espionage Act (EEA) classify as a crime?

Stealing trade secrets.

What are the three types of US patents?

Utility patents, Design patents, and Plant patents.

What is one way to demonstrate misappropriation of trade secrets?

Improperly acquiring or disclosing secret information.

What is a trade dress?

A distinctive appearance of a product or its packaging that signifies the source of the product.

What protects the marks used to identify the origin of goods and services?

Trademark law.

What is a basic requirement for copyright protection?

The work must be original and fixed in a tangible medium.

What is a major criterion for fair use under copyright law?

Purpose and character of the use.

Which international body administers the TRIPS Agreement?

World Trade Organization (WTO).

What is the role of the World Intellectual Property Organization (WIPO)?

To administer international agreements and treaties related to intellectual property rights.

What happens when a trademark becomes generic?

It loses its protected status.

What are the penalties for willful copyright infringement?

Criminal penalties may include fines and imprisonment.

What does 'patent troll' refer to?

Non-producing patent owners who enforce patent rights against others.

What is the consequence of failing to assert rights for certain intellectual properties?

The product may enter the public domain.

What is the exclusive right granted by copyright law?

The right to reproduce, distribute, perform, and display the protected work.

What does the Digital Millennium Copyright Act address?

It prevents circumvention of technological protections for copyrighted works.

What are 'infringement' and 'counterfeiting' in trademark law?

Infringement is unauthorized use causing confusion, while counterfeiting is the manufacturing of fake goods bearing a trademark.