Chances are that you have heard the terms "patent," "copyright" and "trademark" thrown around, but you might not understand what each one means and how they are different. Each one can offer protection to small businesses but they are used for different reasons.
People with a new idea or invention generally want to protect their ownership of it. Companies in Colorado and nationwide will go to great lengths to hire people to develop products or solutions that give them an edge in the marketplace. When and if these ideas are realized, many of them are considered to be quite valuable and can be classified as intellectual property.
Business owners across Colorado understand the importance of protecting the interests of the company. In an increasingly competitive and technologically-savvy market, maintaining control over patented products, copyrights, trade secrets and other types of intellectual property is often a top priority. If ownership of these vital assets is ever threatened or challenged, it can be crucial to take legal action to protect the future of a business.
No doubt anyone in Colorado or elsewhere has heard about the numerous patent infringement lawsuits currently being litigated around the globe. Just recently, Samsung was handed more than a $1 billion defeat in the patent infringement case against Apple and now it wants a new trial because the jury foreman did not disclose some rather interesting litigation he was involved in back in 1993. The jury foreman was sued by his former employer, Seagate, after he filed for bankruptcy. Samsung has a strategic relationship with Seagate and because of that substantial connection the jury foreman may have been biased in the case, claims Samsung.
Historically speaking, we do not see a large number of intellectual property lawsuits involving fashion designers. Everyone in Denver and around the world knows that designers copy each other's creations daily, but there is a new trend in the fashion industry where designers are obtaining patents on their designs and then choosing to enforce those patents when they feel another company or designer is infringing on their patent rights. Such is the case with a yoga-apparel company called Lululemon Athletica Inc., which is accusing Calvin Klein Inc. in a lawsuit of infringing on some of its design patents pertaining to its popular "Astro Pant" yoga pants that retail for $98.
Innovation is often achieved by expanding on prior innovations. As many Denver business owners know, once a new technology hits the market other companies will try and improve upon that technology, innovation breeds innovation just like necessity is the mother of invention, as the saying goes. And now a company's ability to build on the innovations of others just got easier. Introducing the IPXI - a new intellectual property exchange, which provides a one-stop place to sell, buy or trade intellectual property and patent rights.