Protecting Business Ideas

AS Business Studies

Methods of protecting ideas

• Copyright• Patent• Trademark

Copyright• Creation of literary, drama, music, or other

artistic work by entrepreneur or their employee

• Protection lasts until 70 yrs after death of copyright holder

• Exception is music recording for which the performing artists get copyright for 50yrs from date of recording

• Why has this been in the news in the Why has this been in the news in the past week?past week?

Patent

• Protects an invention/process/technology from use by others– Allows the idea to be developed and brought to market, knowing

it can’t be copied– Register at the UK Intellectual Property Office– The inventor has an asset by having the patent, which he/she

can use as a bargaining tool to obtain investment– Bigger businesses may buy small ones that have useful patents– Taking a patent application through the whole process is

expensive, running in to tens of £’000s– If anyone copies the patent, the patent owner has to bring court

action as there is no enforcement agency

Trademark

• Covers brand names, colours, logos and slogans

• Registered at the UK Intellectual Property Office

• Firms will enter in to legal action if rivals infringe their trademarks

In your ‘unmanned’ lesson and own study time over the next two weeks• Use the past paper case study ‘Tom’s Hairdressing Salon’ to

answer the question ‘To what extent do you agree with To what extent do you agree with Tom’s decision to take a ‘Joshua’ franchise?’ Tom’s decision to take a ‘Joshua’ franchise?’ & hand it in to me Day 2 period 5. The best answer will explore the arguments for and against, making reference to specific points in the case study.

• Go over the ‘Generating Business Ideas’ chapter in the textbook

• Find your own your own example of a trademark infringement row between two companies to discuss next lesson

• Watch this video http://www.smarta.com/advice/general/trevor-baylis-baylis-brands