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About Intellectual PropertyThe creation of new inventions and improvement of earlier technologies are the primary driving force of our economy today. In order to expand and run more efficiently, our economy relies on the sharing and transfer of technology. By the same token, the wellbeing of our society is heavily affected by the growth and efficiency of our economy. Clearly, technology transfer is an essential element to a growing society. Technology transfer will be achieved only if the creators benefits from sharing their original work and ideas with the public. The public compensates creators for their work by granting them Intellectual Property (IP) protection in the form of patents, copyrights, trademarks, and trade secrets. These forms of IP protection provide inventors and authors with exclusive rights to the benefits of their creation. A patent permits the inventors to hold a legalized monopoly over the product that they develop and patent. The copyright and trademark provide this same benefit for authors and designers. A trade secret allows a technology to be licensed without a patent. These IP claims allow the creator to license or sell these exclusive rights for a profit. University based research is one of the major contributors to the development of new technologies. According to a survey by the Association for Technology Transfer Managers, in 1996 sales of products based on university research and development totaled $20.6 billion. A Permanent Standing Committee has been specifically designated to provide assistance on copyright and trademark issues. For assistance with IP issues, contact the Chairs of those Permanent Standing Committees. |
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