Intellectual property is a broad categorical description for the set of intangibles owned and legally protected by a company from outside use or implementation without consent. Intellectual property can consist of patents, trade secrets, copyrights, franchises, and trademarks or simply ideas.
The concept of intellectual property relates to the fact that certain products of human intellect should be afforded the same protective rights that apply to physical property. Mostdeveloped economieshave legal measures in place to protect both forms of property. Intellectual property can represent acompetitive advantage.
Understanding Intellectual Property
Companies are diligent when it comes to identifying and protecting intellectual property because it holds such high value in today’s increasingly knowledge-based economy. Extracting value from intellectual property and preventing others from deriving value from it is an important responsibility for any company. Many forms of intellectual property cannot be listed on thebalance sheetas assets, but the value of such property tends to be reflected in the price of the stock.
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Intellectual Property in the News
In 2017, there was a widely publicized intellectual property case in which a company called Waymo sued Uber over alleged stealing and implementation of technology relating to Waymo’s self-driving car program. The plans for the technology, although not yet completely viable, constituted significant intellectual property for Waymo. When they alleged that Uber had obtained their intellectual property, they were able to take action through the court system to attempt to keep Uber from utilizing the information to enhance their own self-driving car program.
My name is Kendall Prescod, and my business is called Empire Genius. I started up this genius endeavour a few years ago with the sole intention of becoming a great motivational speaker and builder of great minds. I wanted to create a platform where people all around the world can gather from all walks of life and share ideas or touch basis with proven methods to improve a person thought process to ensure a greater life. I’m based in Houston with expansion on the horizon, because I’ve always witnessed the demand for uplifting a person’s mind to elevate beyond their current state and wildest dreams. One reason is that the world hides information and wants you to be the same, following rules that are not meant for you. Thus; with the knowledge I have gathered over the years, I committed myself to betterment of the people; through opening the blinds of their mind. I was raised with limitations set upon my life an I vowed to never let another person be setback by their mind or circumstances that might be detrimental to progress. Being in touch with the Trinity can propel anyone to great heights, once you distinguish the fake from the true all worry a doubt that might plague your life will fade away, then u will soar like never before…
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