Choose an invention or other protectable intellectual property ("IP") for a small or start-up business. This may be IP you are familiar with, or it may be described in a website or other source. Examples include new products, new technology, or new software.
Prepare a 1,050- to 1,400-word paper that addresses the following:
- Describe the invention or other type of intellectual property.
- Identify the types of intellectual property law that apply.
- In the event you intend to contract with a third party to produce your invention, what are the elements of a bilateral contract you would need to be familiar with?
- Explore how the business should protect this intellectual property.
- Analyze how you might advise the business owner to protect its future IP. The owner expects a substantive answer, not simply a recommendation to refer matters to an attorney. The majority of businesses in the United States do not have staff counsel, and no owner wants to spend money getting legal advice until they know why (i.e., after you provide an assessment). In your analysis, identify what IP principles support your recommendations.
Include a title page, introduction, headings, sub-headings, in-text citations, a conclusion, and a reference page. Use 3 to 5 references from sources other than the text, 2 to 3 of which should be peer-reviewed sources.
Format your paper consistent with APA guidelines.
Explanation & Answer
Hi, find the paper attached.
Running Head: INTELLECTUAL PROPERTY PROTECTION
Intellectual Property Protection: “ImpactVision Non-invasive Technology”
INTELLECTUAL PROPERTY PROTECTION
Description of the Invention
ImpactVision Non-invasive Technology is an invention developed by the San Francisco
startup ImpactVision. The invention uses non-invasive technology to provide real-time food
quality information in the processes reducing the risk that comes with the consumption of
contaminated or expired food (ImpactVision, 2019). The invention promises to be a game
changer in the food industry where billions of dollars are lost in purchases of contaminated or
expired food items. Using image recognition and predicting technology, the invention provides
information about the quality and characteristics of different foods. Some of the characteristics of
the typical foods that can be tested using the ImpactVision Non-invasive technology include
freshness, shelf-life and whether the food is contaminated (ImpactVision, 2019). In this sense,
the technology enhances the capability of producers, and distributors in a supply chain to deliver
high-quality food in the process of enhancing revenue, brand, and image growth potential. From
the brief description of the non-invasive technology, ImpactVision and other startups should
prioritize on protecting the invention through patent rights. Besides this, other aspects of the
invention and business the company should protect through intellectual property laws include;
the name of the company, design, symbol, phrases associated with the product and services, and
software code used in the detection of contamination.
Intellectual Property “IP” Rights ImpactVision Should Consider
In a world driven by information, protecting new inventions through patent rights is a
priority. Besides differentiating one product from another, patent rights offer holders an
INTELLECTUAL PROPERTY PROTECTION
opportunity to protect their invention from infringement from other parties who might steal part
of or the whole idea (Candelin-Palmqvist, Sandberg, & Mylly, 2012). Applying for patent rights,
that protect an invention from infringement or unauthorized use by other companies, therefore, is
the only option for startups and small companies like ImpactVision from building and profiting
from their inventions. A patent right granted the ImpactVision invention will allow the company
an exclusive right of making, selling or using the invention. The company should seek to have all
the three types of patents; uti...