Protection of Intellectual Property

Protection of intellectual property
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Protection of intellectual property
Trade secrets
Trade secrets are defined as formula, pattern, formula, tools, process, device, or any other business information kept by company owners to enable them acquire competitive advantage over other players in the market. A trade secret ensures protection for some technologies, knowledge and innovations. They should confidentiality be accompanied by signing of agreements with every person who knows the secretes of the product. This confidentiality agreement is to stop employees from revealing your secret or proprietary knowledge during and after their employment or association with your business (Braga, Fink & Sepulveda, 2000). The agreement provides evidence of your agreement and a legal recourse if it is breached. The recipe for Coca-Cola is a good example of long-kept trade secrets.
Copyrights
It is the protection of original works of literary work, sound recordings, authorship films, music, artistic work both published and unpublished. Copyright protects the work of individual and ensures it is not being used without his/her permission. This protection extends to the particular form in which ideas are expressed. Copyright laws are intended to reward the creative and inventive efforts of the "author" of the copyrighted work. The exclusive right to control duplication protects the owner of copyrighted work against the competition that would result from verbatim copying of the content. Copyright protection arises automatically upon the creation of an original work of authorship.
Patent
It involves protecting individual’s invention and enables one take legal action against anyone who makes, uses, sells or imports ...