First to File: Patents for Today's Scientist and Engineer

Chapter 11Patents and Beyond: The Variety and Scope of Intellectual Property

Utility patents, which are the main focus of this book, can certainly be an important part of any company's assets and a valuable means of establishing a company's position in a competitive industry. Other assets however of a similarly intangible nature can add value as well. Trade secrets, trademarks, copyrights, and patents other than utility patents, when appropriate to a company's business model or product line, are major contributors to the valuation and competitiveness of many types of business. Patents, trade secrets, trademarks, and copyrights are all forms of “intellectual property” (IP), which can be defined as any information, skill, or ability, technology-based or not, that is the product of creative imagination and is in a form that can be recognized as proprietary and used as a means of conferring exclusivity. IP is thus distinguishable from the conventional business structures, models, and platforms that are commonly used in industry, such as management hierarchies, hiring practices, marketing methods and consumer targeting, or the manner in which research and development priorities are set. An understanding of the basics of forms of IP other than utility patents will help place utility patents in their proper context.

11.1 Trade Secrets

Other than patents, trade secrets are the form of IP that is best suited for protecting technology. Unlike patents, however, one does not apply for ...