Module 2: Intellectual Property

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5 Terms

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Types of IP (hint: 5 types)

  1. Design

  2. Trade Mark

  3. Patent

  4. Trade Secret

  5. Copyright


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Requirements for a patent

  1. NEW to the world

  2. INVENTIVE

  3. SUSCEPTIBLE of industrial application


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Patent Timeline

Month 0: Filing of application

Month 12: PCT (Patent Cooperation Treaty)

Month 18: International Publication

Month 30: Individual Country Applications

Year 3++: Grants

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Best practice for IP licensing

  1. Execute an NDA

  2. Involve legal counsel as early as possible

  3. Agree on detailed non-binding Head of Terms

  4. Ensure that the draft agreement fairly reflects Head of Terms

  5. Negotiate any issues in the draft and prepare a final form with a sign offs for approvals


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What is a patent

A patent is an official right granted by a government that gives an inventor the exclusive authority to their invention for a limited time