Key Terms
Intellectual Property (IP)
Intangible property representing the commercially valuable product of the human mind. Can be abstract (a melody) or conc
Four categories of IP protection
Patents, trade secrets, copyrights, trademarks.
Authority
Article I, Section 8 of the U.S. Constitution — the Copyright Clause.
Copyright Clause
Congress may "promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors th
Public domain
Works whose IP protection has expired; anyone can freely copy, use, perform, or modify them without permission or royalt
Patent
The exclusive right to make, use, or sell an invention for a specified period of time; granted by the federal government
Patent holder
Owns the patent. Patents can be legally sold; once sold, the original inventor's property interest ends.
Business method patent
Seeks to monopolize a new way of conducting a business process. One-click ordering patents are a well-known example.
International protection
A USPTO patent does NOT automatically protect the inventor outside the U.S. International protection depends on whether
Compulsory licensing
A procedure under international treaties allowing governments to declare national health emergencies and force drug comp
Patent infringement
Making, using, selling, or offering to sell a patented invention without permission from the patent holder.
Most common defense
Challenge the validity of the patent.
Patent trolls
Individuals or companies who obtain patent rights not to produce goods, but to profit through licensing or litigation. R
Trade secret
A formula, process, device, or other business information kept confidential to maintain a competitive advantage.
Key distinction from patents
Trade secret protection is NOT tied to novelty. The essence is secrecy.