Intellectual Property Is Intangible Property - 963 Words

Intellectual property is intangible property that can be owned by law. The Law protects the four following areas. 1) Copyright- grants the creator of an original work exclusive rights for its use and distribution. 2) Trademark- a symbol, word, or words legally registered or established by use as representing a company or product. 3) Patent- is the protections of an individual’s invention and the way its use. 4) Trade Secrets- A trade secret is a formula, practice, process, design, instrument, pattern, commercial method, or compilation of information not generally known or reasonably ascertainable by others by which a business can obtain an economic advantage over competitors or customers. Broadly speaking, any confidential business information which provides an enterprise a competitive edge may be considered a trade secret. The Crime Intellectual property theft involves taking a person’s idea, invention or their creative expression and claiming it to be your own. This can include software, movies, trade secrets, and more. Stealing intellectual property can be done with little to no effort for relatively no cost. By just copying the other persons ideas or their product. From the other persons idea the thief gets a large profit. By doing that the person commits Intellectual Property Theft and can cost the owner of that property jobs, tainted reputation, government tax revenue, and incite the continuation of gangs and organized activities. Destroying people along the wayShow MoreRelatedEthics And Intellectual Property : Personal Property984 Words   |  4 PagesETHICS AND INTELLECTUAL PROPERTY Introduction In this week’s assignment, we will look at the subject of ethics and intellectual property. First, start off by looking at the basics of what intellectual property, and take a closer look at case that has involved these issues. Then we will discuss why it is important to protect intellectual property. Next we will look at how can intellectual property be protected? Then we will discuss if intellectual protections ever go â€Å"too far†? Finally what isRead MoreWhat Is Intellectual Property?1338 Words   |  5 PagesWhat is Intellectual Property? â€Å"Intellectual Property (IP) is a term that describes the application of the mind to develop something new or original. It can exist in various forms such as a new invention, brand, design or artistic creation†. (Ipaustralia, 2014) Therefore, as expressed in the week three lecture, IP signifies the ownership of ones intangible and non-physical goods. This could include ideas, names, designs, symbols, artwork, writings, and other creations. It also refers to digital mediaRead MoreIntellectual Property Protection and Enforcement Essay1365 Words   |  6 PagesIntellectual property (IP) is defined as property that is developed through an intellectual and creative processes. Intellectual property falls under the category of property known as intangible rights, which includes patents (inventions of processes, machines, manufactures, and compositions of matter), copyrights (original artistic and literary works of), trademarks (commercial symbols), and trade secrets ((product fo rmulas, patterns, designs). Intellectual property rights has a significant valueRead MoreJean Reinhard Essay1668 Words   |  7 Pagescorporation by transferring the Tricometer intellectual property and more than $10,000 of cash so that corporation can acquire the patent, trade name and trademark? 2-. What are the tax consequences if Jean Joseph jointly acquire the patent, trade name and trademark; create the corporation with more than $10,000 cash; and license the patent, trade name and trademark to the corporation in return for royalties? 3-. Add another step to#2, i.e. giving the intangibles to children under 16 or over 15? FactsRead More Copyrights: Intellectual Property and Technology Essay1535 Words   |  7 PagesCopyrights: Intellectual Property and Technology The Government and many other agencies around the world are continuously at work to improve protections for intellectual property rights and the enforcement of intellectual property laws. In today’s age of digital madness, passing legislation and actually enforcing of those laws becomes a very daunting task. However, the protection of intellectual property has both individual and social benefits. It protects the right of the creator of something ofRead MoreIntellectual Capital Comparison Paper1077 Words   |  5 PagesIntellectual Capital Comparison Paper Intellectual capital is the combined knowledge of employees within an organization (Intellectual, 2013). This knowledge is to add value to the organization in ways such as increase profits, provide products or services to customers, gain competitive advantage, improve processes, or other types of capital. This paper will show five different types of intellectual capital that adds value to an organization. It will provide examples of each intellectual capitalRead MoreIntellectual Capital Essay859 Words   |  4 PagesIntellectual Capital The term intellectual capital (IC) is synonymous with Intangible capital. IC collectively refers to all the resources and assets that defy conventional accounting measures, but which still determine the value and the competitiveness of an enterprise. IC is commonly divided into the areas of Human Capital, Structural Capital, Relationship/Relational Capital, and the Business Model. In our modern Information and Knowledge Economy, intangibles have progressively become the drivingRead MoreCompanies : Profit And Nonprofit Organizations1088 Words   |  5 PagesAssets are classified in one of three different categories; tangible assets, intangible assets, and intellectual property. Tangible assets refers to buildings, vehicles and office equipment that is not consumed during the length of doing business (Francis, n.d.). Tangible assets are used in the process of doing business and can depreciate over time (Francis, n.d.). On the balance sheet, tangible assets reside under Plant, Property and Equipment. Tangible assets can also be referred to as high liquidityRead MoreLegal And Ethical Aspects Of Intellectual Property1238 Words   |  5 PagesEthical Aspects of Intellectual Property According to Cross and Miller (2012), â€Å"Intellectual Property is any property that results from intellectual, creative processes that are products of an Individual’s mind† (p. 320). There are several rights that are used to help protect ownership of creative processes. Despite only benefiting the greater good in the long term, the utilitarian approach is the best option when it comes to ethical decision making and protecting intellectual property, because the longRead MoreThe Idea Of Intellectual Property864 Words   |  4 PagesThe idea of intellectual property has many correlations with the concept of the marketplace of idea. According to a common argument, intellectual property rights spark innovation, creating positive economic growth and benefits for all. Because the marketplace comparison is an economic one, there is a tendency to tie intellectual property with the marketplace of ideas. The key argument arises whether ideas- intangible resources, can be pr otected as property using the same concepts and social processes