You are an entrepreneur and just started a new business in the restaurant or entertainment industry. The business must be hypothetical (made-up) for this assignment.
Please propose a plan for protecting your hypothetical intellectual property (IP). Your plan should consist of the following information. Please keep in mind that you may find that some categories are more applicable than others. This is perfectly acceptable as long as you analyze each category.
- Trademark Protection: Start by demonstrating your understanding of what subject matter trademark protects. Survey the subject matter that would receive trademark protection in your hypothetical business.
- Patent Protection: Explain what types of inventions are patent eligible. In your business, explain whether you would have any items that would have patent protection. You may also comment on whether you need to apply for a patent. Feel free to use your imagination in thinking about potential inventions that may be applicable in a restaurant or to a business in the entertainment industry.
- Copyright Protection: Generally, list the types of works that may receive copyright protection. Survey the types of items in your business that may receive this protection, if any.
- Trade Secret Protection: Demonstrate your understanding of trade secret protection. Would this type of protection be applicable to your business? Why or why not? If applicable, describe what steps your business might take to keep this protection.
- Distinguish between the types of protections: Give a brief overview of your understanding of how the above protections are different. Then discuss which type of protection is most applicable to your business.
- Infringement Concerns: Identify any concerns that you have about infringing on a competitor’s intellectual property rights. Describe what steps you might take to avoid this problem.
- Relevance and Significance of Intellectual Property: Is it important to understand these different types of intellectual property protections before starting a business? Why or why not? Please explain any benefits that students receive from studying this information.
The essay should be a minimum of 1 page and a maximum of 2 pages in length, single spaced. It must be typed in 12 pt. Times New Roman. The assignments will be reviewed using Turnitin, a software program which checks the originality of an assignment.