The CASE Journal IM-Competing for New York’s Best Lobster Roll
Volume 6, Issue 2 (Spring 2010) 10
Exhibit 1
Summary of the types of intellectual property
Trademarks
A trademark is a word, phrase, symbol or design, or a combination of words, phrases,
symbols or designs, that identifies and distinguishes the source of the goods or service of one
party from those of others. Trademarks can be protected by filing representative samples with
the US Patent Trademark Office or by legitimate use of the mark. Protection through filing is
the most secure method of assuring that a trademark holder will be able to protect the mark
through federal infringement suits.
Trademarks are protected by the Lanham Act of 1946. The Act protects names, designs and
logos, and trade dress. Trademarks are best protected by selecting and registering a trademark
through the U.S. Patent and Trademark Office (at some cost to the business owner which is
why many simply do not do it). It is held for a renewable period of 10 years, and can
theoretically be held indefinitely as long as it stays in use.
expression. Examples are literary works, musical works, dramatic works, pantomimes and
the ‘author’ upon creation of the work but protection of the right is easier if federal protection
creator of an original work exclusive rights for a period of time, the creator’s lifetime plus
seventy additional years, after which the work enters the public domain. Written work is
the document. If concerned about infringement, authors should register with the U.S.
Patents
A patent holder gains exclusive rights to the use of their novel idea once the United States
Patent Trademark Office accepts their application and issues a registered patent. Patents are
granted in three categories, utility or function (machines and processes), design (unique
features of a product) and plant (hybrids). This exclusive use is permitted for 20 years if the
patent is utility or plant and 14 years if design. During these patent periods the holder of the
patent has exclusive rights so no one may infringe on the patent without permission. Patents
typically do not apply to the restaurant industry because they refer to rights granted to an
Tradesecret
For use in conjunction with Strategic Management 13E, Pearce & Robinson. Expiry date 2015.