legal: competition regulation

patents and intellectual property

intellectual property definition

• a right that is granted

• to any device, substance method or process

• that is new, innovative or useful

why is intellectual property important?

• helps to maintain a competitive advantage

• competitors cannot compete directly

• by taking sales or market shares

types of competition regulation

1. patent

2. copyright

3. trademark

patent definition

• legal protection for innovations such as methods, substances or devices

• to gain a competitive advantage

• registered through the patent office of individual countries

• or the patent cooperation treaty for MNCs

characteristics to be eligible for patents

1. new

2. not obvious

3. industrial applications

4. not excluded by regulations

patent length

• 20 years

• non renewable

copyright definition

• legal protection for any original creative work of authorship

• in a tangible medium

• no registration needed in aus

• through publishing or performing in public

copyright length

usually the life of the author or around 70 years

trademark definition

• legal protection for any symbols or words that represent the identity of a company

• registered through the trade marks office for individual countries

• or the Madrid Protocol for multiple countries

trademark length

• 10 years

• can be renewed every 10 years

examples of trademark-able things x6

• name

• brand

• logo

• colour

• packaging

• font