Complete the below:
1. Objective of assignment: Intellectual Property (I.P) is the key to commercializing a product/service. Without patent/IP protection someone is likely to copy your work. In fact, the better your innovation, the more likely it will be copied. IP is also the key to obtaining venture capital funding, without which your product/service would most likely not reach the market. Thus evaluation of your intellectual property is a vital part of the success of your project.
2. Introduction to Intellectual Property:
The primary body that regulates I.P. in the United States is the United States Patent and Trademark Office. The United States Patent and Trademark Office (USPTO or Office) is an agency of the U.S. Department of Commerce. The role of the USPTO is to grant patents for the protection of inventions and to register trademarks. It serves the interest of inventors and businesses with respect to their inventions and corporate products, and service identifications. It also advises and assists the President of the United States, the Secretary of Commerce, the bureaus and offices of the Department of Commerce and other agencies of the government in matters involving all domestic and global aspects of "intellectual property." Through the preservation, classification, and dissemination of patent information, the Office promotes the industrial and technological progress of the nation and strengthens the economy.
The USPTO examines applications and grants patents on inventions when applicants are entitled to them; it publishes and disseminates patent information, records assignments of patents, maintains search files of U.S. and foreign patents, and maintains a search room for public use in examining issued patents and records. The Office supplies copies of patents and official records to the public and provides training to practitioners and a-ts as to requirements of the patent statutes and regulations, and it publishes the Manual of Patent Examining Procedure. Similar functions are performed relating to trademarks.
By protecting intellectual endeavors and encouraging technological progress, the USPTO seeks to preserve the United States' technological edge, which is key to our current and future competitiveness. The USPTO also disseminates patent and trademark information that promotes an understanding of intellectual property protection and facilitates the development and sharing of new technologies worldwide.
3. Emphasis of the Intellectual Property HW assignment:
A major aim of this HW assignment is to enable the student(s) to realize that I.P. is an important part of putting a business plan together.
To develop a successful business plan the student (s) should know how to evaluate their intellectual property. The primary objective of this assignment is to make student(s) aware of existing and similar technology as well as discover whether their IP is patentable.
To start the process of evaluating intellectual property student(s) should start by visiting the website of the United States Patent and
Trademark Office. (https://www.uspto.gov) and also refer to the other sources provided to you in your notes
Once you are on this website, browse through it and then try and answer the following questions which will help you evaluate the intellectual property of your project. Please provide references to prove the validity of your answers.
Q 1. What is the "class" of intellectual property that apply to your project? List up to 3 in priority order. 1 = most important and explain the relevance of each to your product
Q 2. Are there any existing patents similar to the kind of technology that you are planning to commercialize? If, yes, state the name, owner and the number of the patent. : IF none say so.
Q 3. List any aspects of your venture that you believe may be unique enough to warrant patent or copyright protection in the future. Give at least three claims in priority order
Q.4. Evaluate the overall intellectual property of your project and classify it as: Poor, Fair or Good. Give three reasons to explain why you picked that particular classification.
Attachment:- Entrepreneurship.rar