Intellectual Property Flashcards
Intellectual property
a work or invention that is the result of creativity, such as a manuscript or a design, to which one has rights and for which one may apply for a patent, copyright, trademark, etc.
patent
A document granting an inventor sole rights to an invention.
copyright
An exclusive right granted by the federal government allowing the owner to reproduce and sell an artistic or published work.
trademark
A brand that has exclusive legal protection for both its brand name and its design.
trade secret
Info that a business or individual keeps confidential to gain advantage over competitors.
invention
A new product, system, or process that has never existed before, created by study and experimentation.
infringement
the action of breaking the terms of a law, agreement, etc.; violation.
piracy
unauthorized and illegal duplication of copyrighted material.
royalty
Generally a percentage of annual sales paid by the franchisee to the franchisor.
plagiarism
the practice of taking someone else's work or ideas and passing them off as one's own.
black market
a market in which goods are sold illegally.
public domain
Public ownership of writings, documents, or publications that are not protected by copyright (e.g. expired)