Risk Arising In Tangible Property And Intellectual Property

573 words - 3 pages

Introduction

Property rights in the automotive industry are of much importance as the livelihood of the companies can be significantly affected if the proper control measures are not implemented in their operations. With respects to intellectual property, “Growth in the trade of illegitimate goods over the past 20 years is astounding, intellectual property
crime is one of the fastest growing criminal enterprises worldwide”. (Donohue, 2004) Below is an outline of the types of property and how managers can mitigate infringements.

Tangible Property

Tangible property in the automotive industry comprises anything that we can see and touch. This includes buildings, land, steel, ...view middle of the document...

Intellectual Property Protection

Trade secrets specifically include product formulas, patterns, designs, compilation of data, customer lists, or other business secrets. Most states have protection under the Uniform Trade Secrets Act where the owner of the trade secret can sue anyone for misappropriation. Patents can be protected under the Federal Patent Statute, which protects patented inventions from infringement. Copyrights can be protected by the Copyright Revision Act of 1976 that protects the work of authors and creative persons. Trademarks can be protected by the Lanham Trademark Act, which establishes the requirements for obtaining a federal mark. It protects marks from infringement that were registered with the United States Patent and Trademark Office (PTO). Domain names can be protected under the Digital Millennium Copyright Act that prohibits unauthorized access to copyrighted digital works by circumventing wrapper or encryption technology.

Protection of Others’ Intellectual Property Rights
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