Guide to Intellectual Property: What it is, how to protect it, how to exploit it

Guide to Intellectual Property: What it is, how to protect it, how to exploit it

by Stephen Johnson


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Guide to Intellectual Property: What it is, how to protect it, how to exploit it by Stephen Johnson

Intellectual Property (IP) is often a company's single most valuable asset. And yet IP is hard to value, widely misunderstood and frequently under-exploited.

IP accounts for an estimated 5trn of GDP in the US alone. It covers patents, trademarks, domain names, copyrights, designs and trade secrets. Unsurprisingly, companies zealously guard their own ideas and challenge the IP of others. Damages arising from infringements have fostered a sizeable claims industry. But IP law is complex, and the business, financial and legal issues around it are difficult to navigate. Court decisions and interpretation of IP laws can be unpredictable, and can dramatically change the fortunes of businesses that rely on their IP – as demonstrated in the pharmaceutical industry's battle with generic drugs.

This comprehensive guide to intellectual property will help companies, investors, and creative thinkers understand the scope and nature of IP issues, pose the right questions to their advisers and maximize the value from this crucial intangible asset.

Product Details

ISBN-13: 9781610394611
Publisher: PublicAffairs
Publication date: 07/14/2015
Series: Economist Books Series
Pages: 352
Sales rank: 785,766
Product dimensions: 5.30(w) x 8.50(h) x 1.00(d)

About the Author

Stephen Johnson studied genetics at Cambridge University before qualifying as a solicitor in 1982. He subsequently also qualified as an attorney and worked in the US for Kirkland & Ellis LLP for over thirty years, most recently in San Francisco. He now focuses on intellectual property (IP) from a business perspective and also consults for the US charity One Mind on IP and other policy issues affecting neuroscience research.

In 2015 he was named as one of the world's leading IP strategists by Intellectual Asset Management in its IAM Strategy 300 survey.

Table of Contents

List of figures and tables xi

Preface xii

1 An introduction to intellectual property 1

What is intellectual property? 8

Forms of protection 12

Building IP into a business strategy 15

2 Patents 17

What kinds of invention can be patented? 20

When should a patent be obtained? 26

The rights granted by a patent 32

Remedies for patent infringement 36

Validity and value 59

3 Trademarks 62

How is a trademark obtained? 63

The registration process 69

The rights of a trademark owner 70

Remedies for trademark infringement 71

Value and strength 74

Trade dress and passing off 79

Using other people's trademarks 80

4 Copyright 81

How is copyright obtained? 85

The rights of the copyright owner 89

Remedies for copyright infringement 91

Value and strength 96

Open-source and copyleft software 97

Authors' moral and other rights 99

Clearing rights 99

5 Design rights 101

How are design rights obtained? 102

International protection 104

Other forms of protection 104

Value and strength 104

6 Trade secrets 106

What is a trade secret? 107

How are trade secrets created? 108

How are trade secrets protected? 109

Trade secret versus patent 112

Unauthorised use or disclosure 113

Value and strength 116

7 IP and the internet 120

Trademark and domain name strategies 120

Websites, e-commerce and privacy 123

Cybercrime, trade secrets and hacking 129

Copyright and piracy 130

An internet infringement strategy 134

8 Who owns IP? 136

Patents 137

Trademarks 142

Copyright 144

Design rights 148

Trade secrets 148

Corporate structure and taxation 149

9 What IP costs to obtain, maintain and enforce 152

Patents 152

Trademarks 157

Copyright 159

Design protection 159

Trade secrets 160

10 IP's role in protecting product sales 161

Patents as a barrier to entry 161

Trademarks as a barrier to entry 168

Copyright as a barrier to entry 169

Design rights as a barrier to entry 171

Trade secrets as a barrier to entry 171

11 IP as a revenue generator 173

Strategic management of patents 174

The value of a patent as a litigation asset 177

Patent assertion entities 178

Deciding a strategy 185

Trademark licensing 189

Copyright and revenue generation 190

12 Licensing transactions 192

Crucial terms 193

Issues specific to particular types of licence 204

Liability 209

Bankruptcy 211

Legal limitations on licence terms 215

13 The market for IP: how IP rights are bought and sold 223

Patents 223

Trademarks 227

Copyright 228

Transferring IP rights 228

Acquiring IP rights 233

14 Valuing IP 239

Accounting treatment of intellectual property 241

Valuation methodologies 242

Valuing early-stage technologies 246

Valuing brands 247

15 Using IP to raise finance 248

Legal process and technicalities 250

Where IP is used as collateral 255

International developments 260

IP and raising equity 260

16 Developing an IP strategy 261

IP audit and establishing ownership 263

Risk mitigation 266

Protecting a company's products 272

Strategic IP management 274

Governance 277

Executive summary 280

Glossary 310

Notes 317

Useful resources 321

Index 325

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