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The flashcards below were created by user
lohikansun
on FreezingBlue Flashcards.
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Real
- Land and houses.
- Legally indicated by a deed
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Personal
- Tangible and movable.
- Legally indicated by a sales receipt
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Intellectual
- Intangible
- Indicated via trade secrets, trademarks, copy-rights, or patents
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Trade Secrets
- Coca-Cola formula
- No time limit
- Legal protection against others attempting to learn secret
- May be legally "reverse engineered"
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Trademarks
- Relates to any word, name, symbol, or device which is used to indicate source of goods
- Xerox
- Opportunity to renew every 5 years
- Can be lost if owner cannot demonstrate reasonable effort made to prevent public from using trademark in generic sense.
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Copyrights
- Intellectual forms of expressions
- Artwork, books, music
- Renewable
- Very long-lasting
- Finite Time limit
- Only protects expression of idea, not the idea itself
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Patents
- Utility Patents
- Plant Patents
- Design Patents
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Utility Patents
- protect functional products or concepts.
- 20 years of protects
- nonrenewable
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Design Patents
Protect asexually produced plants
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Design Patents
- Protect the form or shape of an object
- Only protect the appearance, not the functional capabilities
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