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Intellectual Property Essay

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Running Head: INTELLECTUAL PROPERTY 1
Intellectual Property
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INTELLECTUAL PROPERTY 2
Unique and valuable pieces of intellectual properties are of great importance
concerning their finance to organizations. The intellectual properties are the major factors
that distinguish an organization from its competitors, and they determine the prosperity of a
firm regarding economic perspectives. Among the most significant IP for companies include
the trademark, the trade secret, and the patents. To ensure your firm or the inventor of an
intelligent property benefits from their work, it is essential to put in place both ethical and
legal laws that will enhance protection of the idea.
To achieve a unique and valuable ideal is costly since it is likely to have a lot of
research on that project. To ensure that an individual or an organization has benefits for their
project or invention, it is essential to patent the idea from other competitors. Once a design is
patented, the owner of the concept will enjoy monopoly and maximize on the profits against
their competitors. Additionally, the patented project cannot be used by another firm, and the
owner has the right to take legal actions against anyone who presumes to use their ideas.
However, patenting of the intellectual property is as well demanding. For instance, in the
United States, a patented project must be paid for the maintenance fee of due 3 1/2, 7 1/2 and
11 1/2 years after the patent. For small entities, the fee cost is $4, 430 while others are $8,860
(Means, 2017). This implies that only an invention that is productive can be patented as it is
capable of paying for maintenance.
Conclusively, other intellectual properties may not be patented. In this case, the
employer must enact laws that govern the protection of confidential processes and formulas.
Besides, the management must be keen on the information going out to the public. In another
case, the employees must sign a post-employment agreement to keep the secrets of the
organization. The ethical and the legal actions allow the inventor of the idea to enjoy the
economic benefits of their work.

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Running Head: INTELLECTUAL PROPERTY Intellectual Property Name of student Course Date 1 INTELLECTUAL PROPERTY 2 Unique and valuable pieces of intellectual properties are of great importance concerning their finance to organizations. The intellectual properties are the major factors that distinguish an organization from its competitors, and they determine the prosperity of a firm regarding economic perspectives. Among the most significant IP for companies include the trademark, the trade secret, and the patents. To ensure your firm or the inventor of an intelligent property benefits from their work, it is essential to put in place both ethical and legal laws that will enhance protection of the idea. To achieve a unique and valuable ideal is costly since it is likely to have a lot of research on that project. To ensure that an individual or an organization has benefits for their proj ...
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