Describe the nature of and types of intellectual property protection.

Describe the nature of and types of intellectual property protection.

For each assignment, you should define or describe each of the Key Words and Phrases and answer each of the Review and Application Questions.
Educational Objective 1
Describe the nature of and types of intellectual property protection.

Key Words and Phrases
Intellectual property


Review Questions
1-1. Identify the source of intellectual property’s value.

1-2. Identify the method intellectual property owners historically have used to enforce their rights.

1-3. Explain the significance of the Paris Convention to intellectual property rights.

1-4. Identify the intent of a trademark.

1-5. Define trade secret.

Educational Objective 2
Describe the features of copyrights and risk control measures for copyright loss exposures.

Key Words and Phrases
Work for hire


Review Questions
2-1. Identify the three important features of copyright.

2-2. Identify the three criteria a work must meet to be considered copyrighted.

2-3. Explain the importance of determining whether an organization or an organization’s employee owns the copyright on a work the employee creates.

2-4. Identify examples of risk control measures that can be used for copyright loss exposures.

2-5. Identify two benefits associated with registering a copyright.

2-6. Define restrictive covenant.

Educational Objective 3
Describe the features of trademarks and risk control measures for trademark loss exposures.

Key Words and Phrases


Trade dress

Review Questions
3-1. Identify the purpose of a trademark.

3-2. Identify three important features shared by trademarks, servicemarks, and trade dress.

3-3. Identify the characteristic of an arbitrary mark that makes it memorable.

3-4. Define fanciful mark.

3-5. Identify risk control measures that may be used for trademark and servicemark loss exposures.

Educational Objective 4
Describe the features of patents and risk control measures for patent loss exposures.

Review Questions
4-1. Identify the three types of patents.

4-2. Identify the three characteristics that an invention must have to be eligible for a patent in the United States.

4-3. Explain the role of monitoring firms in the patent application process.

4-4. Identify the risk control measures that can be used for patent loss exposures.

Application Question
4-5. An organization’s management determines that its intellectual property may be vulnerable to theft in the absence of an employment contract that addresses the topic. Describe the elements the contract should include to insure that the organization’s employees cannot infringe on its intellectual property.

Educational Objective 5
Describe the features of trade secrets and risk control methods for trade secret loss exposures.

Key Word or Phrase
Reverse engineering

Review Questions
5-1. Identify the most obvious loss exposure associated with trade secrets.

5-2. Identify the starting point courts use to determine whether an invention, idea, or process qualifies as a trade secret.

5-3. Identify the questions courts answer to determine trade secret status.

5-4. Identify the risk control measures that can be used to ensure information confidentiality.

Educational Objective 6
Describe the importance of and methods for valuing intellectual property.

Review Questions
6-1. Identify examples of methods organizations can use to safeguard some of their intellectual property.

6-2. Identify why protecting all of an organization’s intellectual property is challenging.

6-3. Explain the importance of accurately valued intellectual property in a situation in which an organization is faced with unauthorized use of its intellectual property.

6-4. Describe the most frequently used intellectual property valuation methodologies.

Educational Objective 7
Describe each of the following with regard to reputation risk:
• Reputation as a key asset

• Key risk sources

• Systemic approach to managing reputation risk

• Implementation of risk management for reputation risk

Key Word or Phrase

Review Questions
7-1. Define reputation in the context of reputation risk.

7-2. Identify why reputation is a key asset to an organization.

7-3. Identify examples of external stakeholders.

7-4. Identify examples of organizational risks that can threaten reputation as a key asset.

7-5. Summarize the systemic approach to managing reputation risk.

7-6. Identify the three risk management principles that an organization must follow to implement risk management for risk to reputation.


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Describe the nature of and types of intellectual property protection.


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