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BM050-3.5.

3 Innovation Management and New


Product Development (IMNPD)

An Introduction to New Product


Development (NPD)

New products Development:


Managing Intellectual Property
New Product Development- Open
Innovation and Technology Transfer

Learning Objectives
1. Examine the different forms of protection available for a
firm’s intellectual property
2. Identify the limitations of the patent system
3. Explain why other firms’ patents can be a valuable
resource
4. Identify the link between brand name and trademark
5. Identify when and where the areas of copyright and
registered design may be useful
6. Explain how the patent system is supposed to balance
the interests of the individual and society
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Intellectual Property
Overview of the main types of intellectual property
Type of intellectual Key features of this type of protection
property
1 Patents Offers a 20 year monopoly

2 Copyright Provides exclusive rights to creative


individuals for the protection of their literary or
artistic productions
3 Registered Designs As protected by registration, is for the
outward appearance of an article and
provides exclusive rights for up to 15 years
4 Registered Is a distinctive name, mark or symbol that is
Trademarks identified with a company’s products

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Trade Secrets

 Business activities and processes that are not


patented, copyrighted or trademarked
 Special ways of working, price costing or
business strategies
 E.g. Recipe for Coca-Cola

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Introduction to Patents
 A contract between an individual or organization and the
state
 The granting of a temporary monopoly by the state to
encourage creativity and innovation within an economy
 The state has no obligation to prevent others benefiting
from it
 Responsibility of the individual or organization that is
granted the patent
 Monopoly for 20 years
 Annual fees required
 Patent Agents
 Article
Pfizer sues rivals to protect Viagra patent.docx
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Introduction to Patents
For a patent to benefit from legal protection it must:
Novelty
An invention shall be taken to be new if it does not form part of
the state of the art. - A state of the art is defined as all matter
including publications, written or oral or even anticipation that
render a patent invalid
Inventive Step
‘an invention shall be taken to involve an inventive step if it is not
obvious to a person skilled in the art’
Industrial Application
Capable of industrial application if it can be a machine, product or
process. E.g. Penicillin was a discovery therefore not patentable.
But process of isolating and storing a penicillin is clearly industrial
applications, thus patentable.
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Reasons Why Firms Patent

 Prevent copying
 Prevent Blocking
 Prevent suits
 Use in negotiations
 Enhance Reputation
 Licensing Revenue
 Measure Performance

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Patents Deter Innovation

 Denying follow-on innovators access to


necessary technologies
 Increasing entry barriers
 The expense required to avoid patent
infringement
 The issuance of questionable patents

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Trademarks Act (1994, section 1(1)
Trademarks Act (1994, section 1(1))
“being any sign capable of being represented
graphically which is capable of distinguishing
goods or services of one undertaking from those
of other understanding”
Trade Marks Should:
 Satisfy the requirements of section 1(1)
 Be distinctive
 Not be deceptive
 Not Cause confusion with previous trademarks
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Link between brand name and trademark: brands
in the sphere of marketing and trademarks within
the sphere of law.
Brand names and trademarks both serve to
facilitate identity and origin, it indicates a certain
level of quality reflected in the goods. Many brands
have been registered as trademarks.
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3 main categories of Copyright

 Original literary, dramatic, musical and


artistic works, including computer
software.
 Sound recordings, films, broadcasts and
cable programmers
 Typographical arrangement or layout of a
published edition

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 For author to obtain copyright protection it
must be in tangible form so that it can be
communicated or reproduced.
 It must also be the author’s own work, the
product of his/her skill or judgement.
 Concepts, principles, process or
discoveries are not valid for copyright
protection until they are put in tangible
form: written or drawn.
 Copyright protection is automatic.
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Remedy Against Infringement

 Damages – Civil case to request for


damages, which can be expected to be
calculated on the basis of compensation
for actual loss suffered
 Injunction – Prohibits a person making
infringing copies of a work of copy right
 Account – Enables access to the profits
made from infringement of copyright.

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Tutorial

1. Explain the importance of tacit knowledge


to the technology transfer process
2. Explain how a firm’s internal activities
affect its ability to acquire external
technology

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