Assignment#1

Name: Ali Moeed Butt

Section: A
Course Instructor: Marriam Rao
Course: Entrepreneurial Finance
Q1:
Intellectual property:
It is a category of property that includes intangible creations of human
intellects. Intellectual property examples are:

1. Art and Designs

2. Literary works
3. Music
4. Symbols, images, and names used for businesses

How intellectual property is protected:

Following are the ways through which intellectual property is
protected:

1. Register copyrights, trademarks, and patents

2. Register business, product or domain names
3. Create confidentiality, non-disclosure or licensing contracts for
employees and partners
4. Implement security measures
5. Avoid joint ownership

Types of intellectual property:

1. Patents:
The patent owner may give permission to, or license, other
parties to use the invention on mutually agreed terms.
2. Trade Secrets (formulas, processes, customer lists):
A trade secret: is information that has either actual or potential
independent economic value by virtue of not being generally
known, has value to others who cannot legitimately obtain the
information, and. is subject to reasonable efforts to maintain
its secrecy.
Intellectual property examples of common trade secrets
include:
1. manufacturing processes
2. client lists
3. ingredients
4. systems
5. sales methods
6. launch strategies
7. business plans

3. Trademarks (Service, Collective, Certification):

A trademark is a brand name. A trademark or service mark
includes any word, name, symbol, device, or any combination,
used or intended to be used to identify and distinguish the
goods/services of one seller or provider from those of others,
and to indicate the source of the goods/services.
4. Copyrights:
Copyright is a type of intellectual property that gives its owner
the exclusive right to make copies of a creative work, usually
for a limited time.
 Intellectual property examples of copyrights are:

1. literary works
2. music
3. dramatic works
4. pantomimes and choreographic works
5. sculptural
6. pictorial, and graphic works
7. sound recordings
8. artistic works
9. architectural works
10. computer software

Example of intellectual property saving:

Entrepreneurs and business owners need to understand the
basics of intellectual property (IP) law to best protect hard-
earned creations and ideas from unfair competition.
Intellectual property includes distinctive items that someone
has created and ones that give the owner an economic benefit.

An owner may seek professional experience from an

intellectual property attorney to help the company plan for
success and avoid theft of ideas, designs, and other concepts.
Owners should also investigate international patents as well as
those registered in the United States.

Since filing and refiling IP applications can get expensive, and

waste time if done incorrectly, the owner must determine what
to protect when it comes to IP. The owner must also decide
which ideas fall under which specific protection option and file
as quickly as possible to reduce chances of losing out on
protection.