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What is Intellectual Property? It is Imagination Made Real

It is imagination made real. It is the ownership of dream, an idea, an improvement, an emotion that we can touch, see, hear, and feel. It is an asset just like your home, your car, or your bank account.  Just like other kinds of property, intellectual property needs to be protected from unauthorized use. There are four ways to protect different types of intellectual property:

  • PATENTS provide rights for up to 20 years for inventions in three broad categories:
    • Utility patents protect useful processes, machines, articles of manufacture, and compositions of matter. Some examples: fiber optics, computer hardware, medications.
    • Design patents guard the unauthorized use of new, original, and ornamental designs for articles of manufacture. The look of an athletic shoe, a bicycle helmet, the Star Wars characters are all protected by design patents.
    • Plant patents are the way we protect invented or discovered, asexually reproduced plant varieties. Hybrid tea roses, Silver Queen corn, Better Boy tomatoes are all types of plant patents.
  • TRADEMARKS protect words, names, symbols, sounds, or colors that distinguish goods and services. Trademarks, unlike patents, can be renewed forever as long as they are being used in business. The roar of the MGM lion, the pink of the Owens-Corning insulation, and the shape of a Coca-Cola bottle are familiar trademarks.
  • COPYRIGHTS protect works of authorship, such as writings, music, and works of art that have been tangibly expressed. The Library of Congress registers copyrights which last the life of the author plus 70 years. Gone With The Wind (the book and the film), Beatles recordings, and video games are all works that are copyrighted.
  • TRADE SECRETS are information that companies keep secret to give them an advantage over their competitors. The formula for Coca-Cola is the most famous trade secret.
  • If you are an intellectual property owner, you should protect your rights. If you are a user, you should respect them. It is just as wrong to steal intellectual property as it is to break into a home, steal a car, or rob a bank.

Patent & Intelletual Property Auction and Advance Sales Help Inventors Gauge the Price of Technology

Do you ever wonder what your patent is worth?  Or, if it is worthless?  If so, then you might want to check out some of the online patent auction sites to help you compare your invention with others.   One of the more respected online intellectual property auction provider is Ocean Tomo.  And, Ocean Tomo is now hosting its Spring 2010 auction of patents and other intellectual property assets with a live auction March 24 & 25, 2010 as well as private advanced sale options.

Some listings, have buy-it-now options, such as http://icapoceantomo.com/item-for-sale/smart-card-magnetic-recording listing 7,591,426 and 7,591,427 are listed for $200,000 USD.

And other listings do not have buy-it-now pricing, rather these patents will be sold during the auction or through private advanced bidding.  For example, NASA lists several different patent portfolios that include:

http://icapoceantomo.com/item-for-sale/digital-memory-storage-hub listing US Patent No. US11/935,572

http://icapoceantomo.com/item-for-sale/docking-system listing US Patent Nos. 6,778,180, 7,006,203, 7,174,077, 7,375,801, 6,227,495, 6,254,035, 6,658,329, and 6,888,476

http://icapoceantomo.com/item-for-sale/fiber-optic-grating-apparatus listing US Patent No. 6,873,762

http://icapoceantomo.com/item-for-sale/microresonator listing US Patent Nos. 6,028,693 and 6,885,779

Do you want to see other patents and intellectual property are for sale?  If so, then goto http://icapoceantomo.com/forsale/.

Future for Licensing & IP

April 10, 2009 by · Comments Off
Filed under: Inventor & Entrepreneur Updates, Uncategorized 

The Federal Trade Commission is examining that issue through a series of public hearings, the next of which will take place:

When:  Friday, April 17 from 9:30 – 4:30
Who: FTC
Where:601 New Jersey Avenue, NW

http://www.ftc.gov/bc/workshops/ipmarketplace/apr17/agenda.pdf

LES Past President Jim Malackowski, CEO of Ocean Tomo, will offer the keynote address followed by several panel discussions featuring business and academic experts on the emergence of new business models for IP transactions.  These hearings may lead to new regulations or policy recommendations for licensing transactions and IP valuation. Preregistration is not required.  For more information on the FTC hearings, visit http://www.ftc.gov/bc/workshops/ipmarketplace/