Patents
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45 Terms
patent
an official document, issued by the US Patent and Trademark Office, granting property rights to the inventor or assignee
how long does a utility patent last
20 years from filing
how long does a design patent last
14 years from issue
how long does a plant patent last
20 years from filing
Most US patents are
utility patents
A patent that covers the unique, ornamental or visible shape or surface ornamentation of an article or object
design patent
A patent that covers asexually reproducible plants
plant patent
A patent that covers inventions that function in a unique manner to produce a utilitarian result
utility patent
What types of inventions can be patented
process, machine, articles of manufacture, coposition of matter, improvements to other listed items
what things cannot be patented
laws of nature, abstract ideas, physical phenomena, literary, dramatic or artistic work
T/F Inventions must serve a useful purpose
True
In the US, there is a ___ year grace period after public disclosure if the disclosure came from you or was derived from you
1
What are the 3 types of novelty
physical difference
new combinations
new use
A patent examiner does a thorough _____ _______ ______ to rule out reasons for rejection of the application
prior art search
trademark
a work, phrase, symbol or design, or a combination of words, phrases, symbols or designs that identifies and distinguishes the source of the goods of one party from those of others
copyright
protects authors of original artistic, musical, or literary work, both published and unpublished
claims
carefully worded statement that stake out the boundaries of the invention
T/F There are such things as "world patents"
False
intellectual property includes
patents, copyrights, trademarks
Under the current copyright laws, copyrights are protected for how long?
the term of life of the author plus 70 years after the author's death
What are the 6 categories for works that may be copyrighted?
1 - literary works
2 - performing arts
3 - visual arts
4 - motion pictures
5 - photographs
6 - other digital content such as computer programs, apps, and databases
T/F A trademark can refer to both trademarks and service marks
True
This patent is also called a "patent for inventing"
utility patent
What is a provisional patent?
A legal document filed in the USPTO that establishes an early filing date.
What must an applicant do for a provisional patent to mature into an issued patent?
File a regular non-provisional patent application within one year.
average cose of a utility patent
$5-10k
average cose of a provisional patent
$200-400
How long of coverage does a provisional patent allow
1 year
what are the 3 types of claims
independent, dependent, and claims mapping
3 requirements for obtaining a patent
1 - must be new/novel
2 - useful
3 - non-obvious to one skilled in the art
T/F Having an issued patent will prevent others from copying your invention
False
T/F Money has a time value
true
NPV
net present value
IRR
internal rate of return
MARR
Minimum Attractive Rate of Return
What is MRR?
an interest rate set by your company at which your company can always earn money