Intellectual Property for Entrepreneurial Business Venture Essay

Intellectual Property for entrepreneurial Business Venture - Essay ExampleThe related rights of copyright consist of the rights of performing artists for their performances, producers of phonograms, and those of broadcasters programmes in each radio or television. The rights granted in all types of intellectual property are essentially negative.A patent refers to the exclusive right granted for an finesse that either provides a novel means of doing, or a new technical solution to a problem. patent of inventions provides protection for a limited finale, generally 20 years. The protection granted to patent owners includes that another person cannot make commercial reproduction, use, distribution and sale of the invention without the consent of the patent owner. To enforce these rights, patent owners have to enforce it in court to prevent or enjoin patent infringement. Corollary to this, a court may declare a patent invalid when challenged. A patent owner is given the right to decid e who can use the patented invention for the period granted in the patent and ahs the right to permit or license third parties to use, sell, distribute or market the invention. Upon expiration of a patent, the protection consequently ends, with the invention becoming a part of the commonplace domain. The patent owner does not anymore have exclusive rights to the patented invention and now procurable for commercial exploitation. To secure a patent, the first step is to blame the application for patent that should contain the induce or title of the invention and an indication of the technical field. The application must also state the background signal and description of the invention specific enough for an individual of average understanding in the field could after use to reproduce the invention. The application must be accompanied by visual representations of the invention give care diagrams, plans or drawings describe the invention better and must contain various claims or t he necessary tuition that determines the extent of protection applied. To be patentable, the invention must satisfy the following conditions (1) it must be of virtual(a) use (2) it must be novel, that is, new characteristic in the field not yet know in the body of existing knowledge called prior art (3) shows an inventive step not cognizable by someone in the field with average knowledge and (4) the invention must be pass judgment as patentable law. Hence, mathematical methods, scientific theories, discoveries of natural substances, commercial methods, plant or animal varieties, or methods for medical exam treatment are not patentable. A patent is usually granted by a depicted object patent office or by a regional office for several countries. Under a regional application, applicant requests protection in several countries but each country decides on the application. The Patent Cooperation Treaty (PCT) provides for the formation of filing a single international patent applicat ion with similar notion as national applications. An applicant files one application only.Thus, the joint business venture may file for patent application for the technology that combines the Osyter cards radio frequency identification (RFID) technology and the debit cards EFTPOS system together.A