Paper Topic:

Use of Other`s Intellectual Property

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Intellectual property is a legal term that is used to describe property rights that are

granted to an individual for their ideas , information , or other intangibles . The individual is

granted exclusive rights based on the subject matter of those ideas information or

intangibles . Intellectual property may be protected by patents and copyrights . Technology

has increased the possibility of infringement on these rights with the advent of

the internet

and the world wide web . Proper protection of intellectual property can give a business a

significant advantage in the marketplace . As well as improving trading revenues , a business

which maximizes the value of its intellectual property portfolio will represent a more

attractive investment (Whitehead , 2006

Intellectual capital is the sum organization . It is the knows . It can be understood in terms of trade secrets . Intellectual capital includes the knowledge and skills of employees the processes ideas , designs , inventions , and technologies utilized by the firm and the relationships it has developed with both customers and suppliers . It includes software , business methods , manuals , reports , publications , and databases . It includes not only knowledge and information , but also the intangible infrastructure that facilitates its use , exchange , and retention (Lerner Polterak , 2002

Intellectual capital is a major component of any business , with most of it being confined to the minds of employees . When an employee leaves the organization , so does the intellectual capital that resides in the employee , the employee 's knowledge , experience , skills , creativity , and relations with others . Even while an employee is working for an organization , his or her knowledge cannot be most effectively utilized unless it is identified , documented , and shared with others . Thus , the principal objectives of intellectual capital management are to identify capture , and document it and to make it accessible to others in the organization . Clearly an organization cannot control that which exists in the mind of the employee . However , the organization does own the intellectual assets they create while they are a part of the organization . Organizations will be best served if they encourage employees to disclose and record this intellectual capital (Lerner Polterak , 2002

Safeguarding intellectual property has become an increasing responsibility in recent years . The Internet allows the transfer of information at high speeds

Although owners of intellectual property are able to protect their rights by pursuing

civil remedies , the threat of civil sanctions alone is often insufficient to deter

violators who steal trade secrets or infringe on others ' trademarks copyrights , or

patents . Indeed , some intellectual property thieves view civil damage actions as just

another cost of doing business . The theft of intellectual property rights in the United

States cost an estimated 300 billion dollars in 1997 , with high technology

corporations most frequently targeted . A more recent study sponsored by The

American Society for Industrial Security estimates that Fortune 1000 companies

alone lost more than 45 billion from theft of trade secrets in 1999 and in 2000 , American companies lost...

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