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Lecture 27 Intellectual Property Introduction Intellectual Property simply defined is any form of knowledge or expression created with one's intellect. It includes such things as inventions; computer software; trademarks; literary, artistic, musical, or visual works; and even simply know-how. There are various forms of statutory protection for Intellectual Property, but the two that are most likely to be relevant in the University environment are copyright and patents. Copyright The exclusive right of the holder to copy a creative work or allow someone else to do so, including the sole right to publish, produce or reproduce, to perform in public, to communicate a work to the public by telecommunication, to translate a work, and in some cases, to rent the work. Does not protect ideas, but rather the expression of such ideas. Protects original literary, musical, dramatic, or artistic works in a variety of forms, including written materials and computer software. Comes into existence automatically when the work is created and lasts for the author’s lifetime plus 50 years. the author of a work is the first owner of copyright, however where a work is created by an employee in the course of his or her employment, in the absence of an agreement to the contrary, the employer is the first owner of the copyright. Patents  Protects inventions, which are defined as “any new and useful art, process, machine, manufacture, or composition of matter, or any new and useful improvement in any art, process, machine, manufacture, or composition of matter”  A Patent prevents anyone else from using the invention without permission for approximately 20 years. After the patent expires, anyone is able to use the invention.  In order to be patentable, an invention must be novel, and it must have utility and must not be obvious to a person skilled in the field of the invention.  What makes an invention "new" is that it has not been disclosed publicly prior to the filing of a patent application. If, before that filing, it has been disclosed in an article, a seminar or even in a conversation not covered by a confidentiality agreement, or in confidential circumstances, it will not qualify for a patent in most countries. Know How/Trade Secrets • • • • • Is special knowledge of how to do something; skill in a particular field. Can often have considerable value. Can be licensed independently and the license need not be restricted to the term of the related patent. To protect its commercial value, the owner may wish to keep know-how a trade secret. Unlike other forms of intellectual property trade secrecy is basically a doit-yourself form of protection. The owner doesn't register with the government to secure a trade secret; he or she simply keeps the information confidential. Protection ends when a trade secret is made available to the public. The Clause…… Intellectual Property. The University shall own all intellectual property, including technical information, knowhow, copyrights, models, drawings, specifications, prototypes, inventions and software developed by University personnel in performance of the Project (“Intellectual Property”). The Company shall have the first option on an exclusive or non-exclusive licence to commercially exploit the Intellectual Property on terms (including compensation to the University) that generally reflect the industry norm. The option period shall begin with disclosure of the Intellectual Property to the Company and shall terminate 6 months thereafter. In any event, the University shall have the right to use Intellectual Property for research, teaching and administrative purposes. What does it cover? Intellectual Property. The University shall own all intellectual property, including technical information, knowhow, copyrights, models, drawings, specifications, prototypes, inventions and software developed by University personnel in performance of the Project (“Intellectual Property”). The Company shall have the first option on an exclusive or non-exclusive licence to commercially exploit the Intellectual Property on terms (including compensation to the University) that generally reflect the industry norm. The option period shall begin with disclosure of the Intellectual Property to the Company and shall terminate 6 months thereafter. In any event, the University shall have the right to use Intellectual Property for research, teaching and administrative purposes. Who Owns It? Intellectual Property. The University shall own all intellectual property, including technical information, knowhow, copyrights, models, drawings, specifications, prototypes, inventions and software developed by University personnel in performance of the Project (“Intellectual Property”). The Company shall have the first option on an exclusive or non-exclusive licence to commercially exploit the Intellectual Property on terms (including compensation to the University) that generally reflect the industry norm. The option period shall begin with disclosure of the Intellectual Property to the Company and shall terminate 6 months thereafter. In any event, the University shall have the right to use Intellectual Property for research, teaching and administrative purposes. Grant of Rights Intellectual Property. The University shall own all intellectual property, including technical information, knowhow, copyrights, models, drawings, specifications, prototypes, inventions and software developed by University personnel in performance of the Project (“Intellectual Property”). The Company shall have the first option on an exclusive or non-exclusive licence to commercially exploit the Intellectual Property on terms (including compensation to the University) that generally reflect the industry norm. The option period shall begin with disclosure of the Intellectual Property to the Company and shall terminate 6 months thereafter. In any event, the University shall have the right to use Intellectual Property for research, teaching and administrative purposes. Retained Rights Intellectual Property. The University shall own all intellectual property, including technical information, knowhow, copyrights, models, drawings, specifications, prototypes, inventions and software developed by University personnel in performance of the Project (“Intellectual Property”). The Company shall have the first option on an exclusive or non-exclusive licence to commercially exploit the Intellectual Property on terms (including compensation to the University) that generally reflect the industry norm. The option period shall begin with disclosure of the Intellectual Property to the Company and shall terminate 6 months thereafter. In any event, the University shall have the right to use Intellectual Property for research, teaching and administrative purposes.