Laws Are Constantly Changing
Throughout history, creative minds have informed, entertained, invented, and made life better for all consumers. Regardless of the creation, creative minds have produced items that other people want. In meeting the demand for those items and products, some creative people have made fortunes.
Unfortunately, other creative people have missed their opportunity for fame and fortune because they did not know how to protect their rights. Knowing how to protect intellectual property rights is more important than creating the property itself. Any inventor, writer or other creator of intellectual properties should seek the advice of intellectual property attorneys like Co-Managing Partner, Morgan Chu. Much of the general public is unfamiliar with this line of legal work, but it’s vital for creative copyright.
In addition, creators of intellectual properties need to stay abreast of current news regarding intellectual properties. Rules and laws are constantly changing, and court decisions play an important role in intellectual property rights.
Intellectual Property Disputes
Intellectual property disputes can be the difference between a profitable enterprise and an enterprise forced into bankruptcy. The recent patent dispute between Apple and Samsung illustrates how significant patent rights are. A federal jury found that Samsung had infringed on six of Apple’s patents. It cost Samsung $1.05 billion.
Technology has brought many opportunities for intellectual property suits. Yahoo began a lawsuit against Facebook claiming that Facebook had infringed on their patent for social media. Facebook countered with their own suit. Finally, the two settled their differences avoiding what could have been a very nasty lawsuit. Yahoo began using Facebook’s tools, and the two companies are working together to develop new products.
Supreme Court Decision Could Change Trademark Practice
Nike sued a small sneaker maker for trademark infringement in a federal district court. Although Nike promised not to sue because the old designs were not selling, the small sneaker company counterclaimed that the Nike trademark was not valid. Since the United States Supreme Court heard arguments, their decision might change the way trademarks are registered.
Since laws are never perfect, congress will always change or modify existing laws. It’s up to the inventors and innovators like yourself to stay on top of the latest changes in law that could dramatically effect your intellectual property. Take the necessary precautions to ensure the safety and tenure of your latest idea.